Academic year
2016-17
Is found in:
- International Curriculum, programme stage 3
This is a single course unit.
Study load:
3 credits
Weight:
3,00
Total study time: 75,00 hours
Possible deadlines for learning account: 01.12.2016 () or 15.03.2017 ()
Organisation of education
This course unit is marked out of 20 (rounded to an integer).
Re-sit exam: is possible.
It is not possible to enrol in this course unit under
- exam contract (to obtain a credit).
- exam contract (to obtain a degree).
Special admission is required to enrol in this course unit under credit contract.
Co-ordinator: Chamon Benjamin
Language course: No
Languages: English
Scheduled for: Semester 1 or Semester 2
Objectives
To provide students with an in-depth insight of the European insurance and reinsurance market and the supervision thereof with reference to the relevant European directives, regulations and recommendations.
Contents
1. Introduction:
- Unification of the European insurance market
- Life insurance and Non-Life insurance
- Diversification of risks
2. Supervision of insurance and reinsurance undertakings in the single European market
3. Private International Law on insurance contracts: regulations on solving conflicts of law with regard to insurance
4. Insurance mediation in the single European market
5. Reinsurance
- Quota share systems
- Surplus systems
- Excess of loss systems
- Stop loss systems
6. Technical aspects related to insurance undertakings:
- calculation of premiums
- technical reserves
- equilibrium-theory: general approach and exercises
- case studies and exercises based on life-insurance and non-life insurance policies.
Order of enrolment
There are no prerequisites for this course.
Prerequisites
Knowledge of insurance.
Knowledge of financial calculations.
Final objectives
1. Knowledge of the single European insurance market.
Indicators:
- The students have basic knowledge of European Insurance Law, as it is to be implemented under the Law of the E.U. Member States.
- Students have basic knowledge of the European supervision rules on insurance undertakings
- Students can work with different types of insurances practised on the European insurance market.
- Students have basic knowledge about distribution of insurances in the single European Market.
2. Knowledge of risk diversification and reinsurance.
Indicators:
- The students have basic knowledge of the principles of risk diversification.
- Students can bring risk diversification into practice by means of mathematical calculations.
- Students can work with the proportional re-insurance systems in order to calculate the intervention of the basic insurer and the re-insurer.
- Students can work with the non-proportional re-insurance systems in order to calculate the intervention of the basic insurer and the re-insurer.
3. Knowledge of premium calculations
Indicator:
- Students can calculate the basic premium and additional premium needed to obtain the equilibrium between premium fund and claims & damages.
Organisation of education
Explanation of theory with a practical approach by means of case studies and exercises.
Study guidance
Interactive lectures with questions and answers.
Explanation of theory with a practical approach by means of case studies and exercises.
Evaluation
- First exam oppertunity:
- non-period bound evaluation: 25% Exercises during the course
- period bound evaluation: 75% written exam
- Second exam session:
- 100% written exam (100 %)
Study costs
Costs for the syllabus as determined by HoGent
Key words
European insurance and reinsurance – IWETO-code: S137