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ARA 440 — Reinsurance Administration

Course Type: Course Portal, Traditional Designation Course
Topics: Reinsurance
Designations: ACS, ARA, PFLP
Language: English, Portuguese



Overview

ARA 440 shows how reinsurance strengthens the insurance industry and increases the likelihood that insurance companies will have sufficient funds to pay anticipated claims. This course also discusses reinsurance principles, regulation of reinsurance, typical provisions in a reinsurance agreement, the administration of reinsurance business, and the importance of quality control for reinsurance.

Topics

  • Introduction to Reinsurance
  • Reinsurance Environment
  • Regulation of Reinsurance
  • Forms of Reinsurance
  • Defining the Reinsurance Coverage
  • Reinsurance Administration Procedures
  • Claims, Rescission, and Potential Problems
  • Financial Arrangements for Reinsurance
  • Risk Management and Reinsurance
  • Managing Retention Limits
  • Reinsurance Activities, Staff, and Systems
  • Administering New Business
  • Administering In-Force Business and Terminations of Reinsurance
  • Quality Control in Reinsurance
  • Identify the roles that insurance companies take in a reinsurance transaction and arrangements in which reinsurers combine forces, including reciprocal arrangements and reinsurance pools.
  • Understand the model laws, regulations, and licensing requirements affecting reinsurance in the United States, as well as the regulatory requirements related to reserve credit and risk transfer, privacy, money laundering, and corporate governance in reinsurance transactions.
  • Compare and contrast the automatic, facultative, and facultative-obligatory methods of transferring reinsurance risk.
  • Describe the general characteristics of a reinsurance treaty and explain the provisions that define the scope of the agreement, including the parties to the agreement provision, the entire agreement provision, the duration of the agreement provision, and the recapture provision.
  • Discuss the administration of changes that can affect reinsurance coverage, including recapture of ceded risk, increasing death benefits, continuation of reinsured policies, conversion of reinsured policies, and reinstatement of reinsured policies.
  • Explain the role that departments such as marketing, actuarial, underwriting, law and compliance, accounting, auditing, and claims play in the insurer’s reinsurance business.
  • Understand the steps a reinsurer takes to examine, approve, and settle a claim submitted under a reinsured policy.

Course Format

Course Portals include the following elements:

  • PDFs of the assigned course materials that can be printed or read online
  • The same interactive Practice Questions and Sample Exams currently found in LOMA Test Preparation Guides (TPGs)
  • Recommended study plans to help learners set goals and manage their study schedule
  • A variety of additional media-oriented features designed to enhance the study and review process

Exam Format

The ARA 440 exam has 50 questions and a time limit of 2 hours. The exam is available via I*STAR, Prometric and Paper (November only) formats.

Study Materials

Principles of Reinsurance, Second Edition (LOMA, 2013)
ISBN 978-1-57974-414-4

Test Preparation Guide for ARA 440 (LOMA, 2013)
ISBN 978-1-57974-413-7

Optional printed textbook (not included in bundled fee).

Principles of Reinsurance, Second Edition (LOMA, 2013)
ISBN 978-1-57974-412-0
PBD Order # 440-10-13

Ordering printed study materials

Most Course Portals include online access to the course’s study materials and do not require purchase of additional printed study materials. However, you can order printed study materials for some designation courses (for an additional cost) via LOMA’s learning system, or by using the textbook order form and information below:

For the United States and Canada, you can order study materials for designation courses through PBD by using the form and information below:

2017

PBD Worldwide
P.O. Box 930108
Atlanta, Georgia 31193-0108
Tel: 1-800-887-3723 or 770-280-4178
Fax: 770-280-4150
Email: LNH@pbd.com
Website: www.lomabookstore.com

Additional textbook order forms

Forms include applicable mailing and contact information

2017

How to Enroll

Enrolling in Courses with Proctored Exams

LOMA requires proctored examinations for many of its professional designation courses. Study materials for these courses are delivered via online Course Portal, and enrollment in the Course Portal also includes enrollment in one of our proctored exam options for the course. Proctored exams are administered in LOMA member organizations and in independent testing locations around the globe. LOMA exams vary in length from two–three hours. Consult the Designation Study Materials Roadmap for specific information about the length of your exam.

Proctored examinations can take one of three forms:

Enrollment Step-by-Step

  1. Log in to your LOMA Learning account using your login ID and password.
  2. Browse the Learning Catalog for the course for which you would like to enroll.
  3. Select ADD TO CART next to the items for which you would like to enroll.
  4. Choose Exam Type — you must choose between Prometric, I*STAR, or Paper Exam enrollment.
    • Select Exam Site — your company’s primary exam site (if applicable) will appear on the screen. To see other available exam sites, click “Search.”
    • Note for Independent Students: Click “Include 3rd party exam sites” to find open exam sites offered by other companies. More information on Independent Student enrollment.
    When you have selected an exam site, click “Save.”
  5. Return to the catalog to continue searching for courses and add additional items to your shopping cart, or click the shopping cart to check out.
    • If you have not already done so, you will be prompted to log in to the LOMA learning system at this time. Once you have successfully logged in, click the shopping cart again to begin the checkout process.
     
  6. Review your shopping cart. Click CHECK OUT to proceed.
  7. If you are purchasing a physical product (example: a textbook), complete the SHIPPING information screen.
  8. Enter payment information
    • If your company has set up direct billing with LOMA, an account code will appear next to the “Bill My Company” field.
    • If you are using direct-to-company billing method, ensure that the radio button next to the “Bill My Company” field is selected and then click “Next” to continue.
    • If you are paying for your enrollment by credit card, enter all of the required fields for a credit card transaction. Once you have provided all of the required information, click “Next” to continue.
  9. Review your order, accept LOMA’s Terms and Conditions, and click BUY NOW. An enrollment confirmation will be emailed to you.