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Home All Courses IRCM Insurance Risk and Capital Management
4.8

IRCM Insurance Risk and Capital Management

3 alternative location(s) available

Course Overview

This 5 day program will provide the delegates with the opportunity to obtain knowledge on what are risks and what is capital management in the Insurance market. The course goal is to deliver a 360 degrees of Risk and Capital Management for an Insurance company.

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program at your premise of choice, with lower costs, and schedule that suits you best.

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5 Key Takeaways

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A clear overview of Risk and Capital Management for any Insurance Company.

Confidently understand the bigger picture.

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Increase your value to your organization by understanding enterprise risk management and its role in the changing insurer regulatory landscape.

Gain up-to-date knowledge of insurer regulatory capital requirements and solvency assessment techniques.

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Better serve your organization with your strong understanding of how an insurer can best manage its risks to enhance shareholder value.

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See What’s Inside Our 2020 Catalog

Course Outline

DAY ONE

PART ONE: INTRODUCTION TO RISK MANAGEMENT

The Risk Management Environment

  • A. Risk and Risk Management Defined

  • B. Risk Management Environment - Apply Your Knowledge

Benefits of Risk Management

  • A. Benefits for an Organization 

  • B. Benefits for the Economy 

Risk Classifications 

Enterprise Risk Management

Enterprise Risk Management for Insurance Companies

  • A. Risk Management Framework

  • B. External Risks - Assessing External Risks

  • C. Assessing External Risks: Using An ERM Approach - Managing External Risks

  • D. Internal Risks - Assessing Internal Risks - Managing Internal Risks

PART TWO: INSURER REGULATORY CAPITAL

Introduction to Risk Management Standards and Guidelines

  • A. The Nature of Standards and Guidelines

  • B. Common Elements of Risk Management Standards

  • C. Summary of the Major Standards and Guidelines

ISO 31000 Risk Management—Principles and Guidelines

  • A. Background

  • B. Scope

  • C. Principles

  • D. Framework

  • E. Process
    1. Risk Assessment
    2. Risk Treatment
    3. Risk Monitoring and Review

COSO Enterprise Risk Management—Integrated Framework

  • A. Underlying Concepts

  • B. Real-World Scenario

  • C. Background

  • D. Framework

  • E. Control Activities

Including classroom sessions, group work and case studies and practice

DAY TWO

PART ONE: INSURER WORKING CAPITAL MANAGEMENT

Components of an Insurer’s Working Capital

  • A. Primary Components of Insurer Working Capital

  • B. Current Assets for Insurers

  • C. Current Assets for Insurers: Other Assets

  • D. Current Assets for Insurers: Cash

  • E. Current Liabilities for Insurers

Insurer Credit Management

  • A. Credit Policy 1. Credit Scoring 2. Credit Analysis

  • B. Credit Decisions 1. Policyholders - Producers 2. Reinsurers

Insurer Cash Management

  • A. Reasons for Holding Cash

  • B. Cash and Cash Equivalents

  • C. Cash Management Activities
    1. Collections Float
    2. Disbursement Float

PART TWO: INSURER REGULATORY CAPITAL

Risk-Based Capital Requirements

  • A. Capital Adequacy

  • B. Risk-Based Capital System
    1. The Risk-Based Capital for Insurers Model Act
    2. Nondiscretionary Operation of RBC Requirements

  • C. The RBC Standard

  • D. Risk Types
    1. Asset Risk
    2. Credit Risk
    3. Underwriting Risk

Risk-Based Capital for Life Insurers

  • A. Components of the Life RBC Formula

  • B. Asset Risk 1. Insurance Risk 2. Interest

Rate Risk

A. Business Risk

  • B. Computing the Action Level

  • C. Appropriate Uses of Life RBC

Economic Capital

  • A. Fair Value Accounting

  • B. Fair Value of Insurers

  • C. Economic Capital for Insurers

  • D. Advantages and Disadvantages of Economic Capital Analysis

  • E. Solvency II

Solvency II and Basel II and III Regulatory Standards

  • A. Solvency II

  • B. Basel II and III

NAIC Own Risk and Solvency Assessment (ORSA)

  • A. ORSA Defined

  • B. ORSA Requirements

  • C. How ORSA Supports ERM Including classroom sessions, group work and case studies and practice

DAY THREE

EDUCATIONAL PARTNER

LEORON - Professional Development Institute

Built upon the strong experience in the manufacturing sector, which the founders developed in Sweden during the 90’s global expansion, LEORON evolved into a comprehensive training institute, offering training and development solutions in all strategic corporate functions, including corporate finance, HR, SCM, operations, and engineering.

With strategic distribution of our offices in leading locations, such as Dubai, Riyadh, Jonkoping, Skopje, Accra, and Almaty, our team of experts delivers approximately 500 courses annually, and roughly 10000 professionals are equipped with appropriate education and the latest insights in a wide assortment of industries across the EMEA region.

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Who Should Attend?

This highly practical and interactive course has been specifically designed for:

The target audience is top management, DGMs, Senior Managers and Middle Managers in Insurance and Managers and Senior who have obtained and/or are in the process of obtaining one of the CII qualifications in Insurance.

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FREQUENTLY ASKED QUESTIONS

Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.

LEORON Institute partners with 20+ international bodies and associations.
We also award continuing professional development credits (CPE/PDUs) for:
1. NASBA (National Association of State Boards of Accountancy)
2. Project Management Institute PDUs
3. CISI credits
4. GARP credits
5. HRCI recertification credits
6. SHRM recertification credits

The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +971 4 447 5711 or [email protected].

The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.

Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.

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