ESF:MKF_ZAJI Reinsurance - Course Information

MKF_ZAJI Reinsurance

Extent and Intensity

0/0/0. 6 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Svatopluk Nečas, Ph.D. (lecturer)

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

Sat 3. 11. 12:00–19:50 P303, Fri 23. 11. 16:00–19:50 P303

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

• Finance (programme ESF, N-FU)

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

• 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.
• Tutorials are organised in three four-hour blocks, according to topics in this way:
• 1. Topics No. 1 - 4
• 2. Topics No. 5 - 8
• 2. Topics No. 9 - 13

Literature

required literature
• CIPRA, Tomáš. Zajištění a přenos rizik v pojišťovnictví. 1. vyd. Praha: Grada, 2004, 260 s. ISBN 8024708388. info
• Zákon o pojišťovacích zprostředkovatelích a samostatných likvidátorech pojistných událostí / Zákon o distribuci pojištění a zajištění
• Zákon o pojišťovnictví
• SWISS RE. The essential guide to reinsurance. Swiss Re, 2013. Dostupné z: www.swissre.com

recommended literature
• BUCHOVÁ, J. Zaistenie. 1. vyd. Hronský Beňadik: NETRI, 2004. 152 s. ISBN 80-968904-7-6
• NEČAS, S. Základy zajištění (DSO). 1. vyd. Brno: MU, 2007
• 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

tutorials (discussion to course topics)

Assessment methods

Type of teaching: tutorials Requirements for approaching the exam:
1. Processing and submission of work corrected by tutor (WCT) with classification as passed. In the case of classification failed a student will not be admitted to the exam.
2. Successful completion (passing) of the control test on the last tutorial. Condition (point assessment) for the successful completion (passing) of this test is not strictly defined, because the test is part of the final exam. The condition is thus set for an overall assessment of the tests, not for its components. This control test can be assessed up to 8 points. If a student can not physically complete the test (the apology will judge the teacher), he/she writes this test in the first two weeks of the examination period.
The final exam and final classification
The exam has a written form. Its components are the control test and the exam test. Condition of the minimum number of points for successful completion of an exam test is not strictly defined.
The final mark is made up of: the result of control test written on tutorial (maximum 8 points) and the result of exam test (maximum 12 points).
Rating scale:
A: 92 - 100% (18,4 - 20 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 exam test less than 12 points, will repeat always only the exam 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.

• Enrolment Statistics (Autumn 2018, recent)
  
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