MPF_ZAJI Reinsurance

Faculty of Economics and Administration
Autumn 2017
Extent and Intensity
2/1/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Svatopluk Nečas, Ph.D. (lecturer)
doc. Ing. Eva Vávrová, Ph.D. (lecturer)
Ing. Svatopluk Nečas, Ph.D. (seminar tutor)
Guaranteed by
Ing. Svatopluk Nečas, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Fri 9:20–11:00 P303
  • Timetable of Seminar Groups:
MPF_ZAJI/01: each even Friday 11:05–12:45 P303, S. Nečas
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
The capacity limit for the course is 40 student(s).
Current registration and enrolment status: enrolled: 0/40, only registered: 0/40, only registered with preference (fields directly associated with the programme): 0/40
fields of study / plans the course is directly associated with
Course objectives
Main objectives of the course can be summarized as follows: to enlarge students' knowledges about reinsurance as a fundamental element od insurance system and comprehend its functions and classification and also its teoretical and legal basics and practical issues.
Learning outcomes
At the end of this course the student will be able:
- to delineate relationships between the insurance and reinsurance, furthermore reainsurance relationships and legal basis of reinsurance;
- to understand the function of reinsurance and problems of retention of an insurance company;
- to understand classification of reinsurance by various criterias;
- to characterize proportional and nonproportional reinsurance and their individual components, including the determination of reinsurance premium;
- to understand the structure and the formation of reinsurance program, as well as alternative risks transfers;
- to understand co-insurance as a method of horizontal division of risks, including its principles.
Syllabus
  • Theme plan and content of lectures
  • 1. Connection between insurance and reinsurance. The history of reinsurance.
  • 2. Reinsurance as a method of vertical division of risk. The functions and tasks of reinsurance.
  • 3. Other reinsurance coherences – reinsurance commission; retention and ways of its determination.
  • 4. Legal basics of reinsurance with accent on public law.
  • 5. Classifiction of reinsurance. Facultative reinsurance. Obligatory reinsurance.
  • 6. Proportional reinsurance. Quota share and surplus reinsurance. Other types of proportional reinsurance. Principles of determining reinsurance premium for proportional reinsurance. Types of surety in proportional reinsurance.
  • 7. Nonproportional reinsurance. Excess of loss and its types. Stop Loss.
  • 8. Other types of nonproportional reinsurance. Principles of determining reinsurance premium for nonproportional reinsurance. Types of surety in nonproportional reinsurance.
  • 9. Contractual Relations in reinsurance. Usages in negotiating of reinsurance and the basic content of the reinsurance contracts.
  • 10. Reinsurance program for the commercial insurance companies, its creation and importance for economy. Analysis of insurance stocks of insurance entering the reinsurance.
  • 11. Alternative risk transfers. Finite reinsurance and its basic principles. Basic principles and types of retrospective types of contracts. Basic principles and types of prospective contracts.
  • 12. Other ART instruments
  • 13. Reinsurance market in international context. The function of the reinsurance broker and his position within reinsurance. Co-insurance as a method of horizontal division of risk. Principles of co-insurance. The role of the leading insurer. Pools of reinsurance and co-insurance.
  • Theme plan and content of seminars (by weeks of instruction):
  • 1. Introductory seminar - the organization of seminars, condition of classification and completion of the course, allocation of seminary works
  • 2. The most significant risks and reinsurance - Floods and hurricanes and their insurability I. Floods - their impact on reinsurance, hurricanes - their impact on reinsurance, the possibility of predictability and insurability of these risks;
  • 3. The most significant risks and reinsurance - Floods and hurricanes and their insurability II. Floods - their impact on reinsurance, hurricanes - their impact on reinsurance, the possibility of predictability and insurability of these risks;
  • 4. The most significant risks and reinsurance - Earthquake and tsunami I. Earthquake and tsunami - their impact on reinsurance, the possibility of predictability and insurability of these risks;
  • 5. The most significant risks and reinsurance - Earthquake and tsunami II. Earthquake and tsunami - their impact on reinsurance, the possibility of predictability and insurability of these risks;
  • 6. The most significant risks and reinsurance - Nuclear risks in property insurance and limit of their insurability I. Nuclear risk - the restriction and possibilities of insurability, the implementation of nuclear risks and their impact on reinsurance, nuclear risks and so-called pools.
  • 7. The most significant risks and reinsurance - Nuclear risks in property insurance and limit of their insurability II. Control test No. 1. Nuclear risk - the restriction and possibilities of insurability, the implementation of nuclear risks and their impact on reinsurance, nuclear risks and so-called pools,
  • 8. Analysis of a reinsurance contract in proportional reinsurance I. General conditions, special conditions, contract clauses and their analysis;
  • 9. Analysis of a reinsurance contract in proportional reinsurance II. General conditions, special conditions, contract clauses and their analysis;
  • 10. Analysis of a reinsurance contract in nonproportional reinsurance I. General conditions, special conditions, contract clauses and their analysis;
  • 11. Analysis of a reinsurance contract in nonproportional reinsurance II. General conditions, special conditions, contract clauses and their analysis;
  • 12. Rating evaluation and its importance in reinsurance. Rating in reinsurance industry, the impact of the rating evaluation on the functioning of reinsurance companies, examples and analysis of specific rating evaluation;
  • 13. Control test (part of the final exam) - the debate on test setting (to eliminate any confusion), a test, a seminar on the subject of a control test.
Literature
    required literature
  • CIPRA, Tomáš. Zajištění a přenos rizik v pojišťovnictví. 1. vyd. Praha: Grada, 2004, 260 s. ISBN 8024708388. info
  • SWISS RE. The essential guide to reinsurance. Swiss Re, 2013. Dostupné z: www.swissre.com
  • Zákon č. 277/2009 Sb., o pojišťovnictví
  • Zákon č. 38/2004, o pojišťovacích zprostředkovatelích a samostatných likvidátorech pojistných událostí
    recommended literature
  • Buchová, J. Zaistenie. 1. vyd. Hronský Beňadik: NETRI, 2004. 152 s. ISBN 80-968904-7-6
  • DUCHÁČKOVÁ, Eva. Pojištění a pojišťovnictví. 1. vydání. Praha: Ekopress, 2015, 305 stran. ISBN 9788087865255. info
  • CARTER, R. L. Reinsurance. Second edition. Dordrecht: Springer Science+Business Media, B.V., 1983, xv, 630. ISBN 9789401574129. info
Teaching methods
lectures and seminars (mostly presentation of seminar projects at given issue and discussion to them)
Assessment methods
Type of teaching: lectures, seminars Requirements for completion of the course:
a) processing, submission (in written and electronic form) and the presentation of a seminar project at given issue (using PowerPoint) with classification as passed. The classification of seminar project passed or failed. In the case of classification failed a student will not be admitted to the exam. In the case of classification passed may the seminar work be reflected in the final classification up to 5 % (1 point), according to an assessment of the directive of the seminar;
b) successful completion (passing) of the control test of seminars Condition (points assessment) for the successful completion (passing) of this test is not strictly defined, because the test is a part of the final exam. The condition is thus set for an overall assessment of the tests, not for its components. This test of seminars can be assessed up to 8 points. Control test of the seminars will be written in the 13th week of the semester. If a student can not physically complete the test (the apology will judge the directive of the seminar), he/she writes a test in the first two weeks of the examination period.
c) participation at least on 5 seminars.
The final exam and final classification
The exam has a written form. Content of the final exam is mostly a matter of the lectures and literature. Condition of the minimum number of points for successful completion of a test of lectures and literature is not strictly defined.
The final mark is made up of: the result of control test (maximum 8 points) and the result of the test of lectures and literature (maximum 12 points), eventually also classification of the seminar work (a bonus of up to 1 point).
Rating scale:
A: 92 - 100% (18,4 - 20, respectively 21 points),
B: 84 - 91% (16.8 - 18.3 points),
C: 75 - 84% (15.2 - 16.7 points),
D: 70 - 74% (13.6 - 15.1 points),
E: 60 - 69% (12 - 13.5 points),
F: less than 60% (less than 12 points).
Student who will have after writing the control test and the test of lectures and literature less than 12 points, will repeat only the test of lectures and literature. Students log on the resit test.
Warning: Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination.
Language of instruction
Czech
Further Comments
Study Materials
The course is taught annually.
The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021.
  • Enrolment Statistics (Autumn 2017, recent)
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