Reinsurance is often described simply as ‘insurance for insurers’ - a mechanism for transferring risk, protecting capital and stabilising results. In practice, however, it is a highly complex global system, combining underwriting judgement, financial structures, legal frameworks and market practice. It is the key risk management tool for all insurers.
From the structuring of proportional and excess of loss treaties, through to contract wording, claims handling and dispute resolution, reinsurance operates across multiple disciplines and jurisdictions. Small differences in structure, terminology or interpretation can have significant financial and legal consequences.
As the market continues to evolve - through regulatory change, globalisation, alternative risk transfer and increasing scrutiny of contract certainty - professionals are often required to specialise. This can make it challenging to maintain a clear, end-to-end understanding of how the reinsurance chain operates in practice.
This comprehensive and highly practical programme is designed to address that gap. It provides a structured, end-to-end view of the reinsurance lifecycle, covering:
- Core concepts and structures (facultative and treaty reinsurance)
- Underwriting principles and portfolio management
- Contract wordings and key legal concepts, including the latest legal decisions.
- Market practice across major global reinsurance centres
- Regulatory frameworks and developments, including the Insurance Act 2015
- Claims management, reserving and run-off
- Dispute resolution, including arbitration and international considerations
Through a combination of expert-led sessions and practical workshops, delegates will develop both technical understanding and practical application, enabling them to navigate the reinsurance market with greater confidence.
Whether you are new to reinsurance or looking to reconnect with the broader market dynamics, this course offers a clear, integrated and commercially focused understanding of the industry as a whole.
The experienced faculty will demystify all aspects of the reinsurance industry that participants might be new to, unfamiliar with or have lost touch with, including:
- Part 1: The building blocks - understand the need for reinsurance and its relevance to your role
- Part 2: The reinsurance market - get-to-grips with the role of the reinsurance market and how it works
- Part 3: The legal and regulatory framework - build your knowledge of how the industry is controlled and regulated
- Part 4: Practical applications - Demystify the terminology and activities that are specific to the insurance industry
Benefits of attendingBy attending this comprehensive training course, you will:
Gain a clear, end-to-end understanding of the reinsurance lifecycle, from placement and underwriting through to claims and dispute resolution
Build practical knowledge of facultative and treaty reinsurance structures, including how proportional and excess of loss contracts operate in practice
Develop confidence in interpreting reinsurance contract wordings and key clauses, and understand how they perform in real-world scenarios
Understand the legal and regulatory framework, including the Insurance Act 2015, and how it impacts reinsurance contracts and disputes
Explore how the global reinsurance market operates, including the roles of brokers, underwriters and major international centres
Strengthen your understanding of claims management, reserving and long-tail liabilities, including practical challenges and best practice approaches
Gain insight into run-off, insolvency and alternative risk transfer mechanisms, and their impact on recoveries and portfolio management
Learn how reinsurance disputes arise and are resolved, including arbitration, jurisdictional issues and international considerations
CPD Hours: 12
Course Content
- Day 1
- PART 1: THE BUILDING BLOCKS
- What is reinsurance? Its purposes and functions
- Facultative reinsurance - PRACTICAL WORKSHOP (A)
- Treaty reinsurance - PRACTICAL WORKSHOP (B)
- Underwriting reinsurance
- Questions
- Reinsurance agreements
- PART 2: THE REINSURANCE MARKET
- Main world markets
- Market specialists in arranging reinsurance: brokers and underwriter
- The reinsurance captive market
- Alternative risk transfer mechanisms
- Questions
- Day 2
- Introduction and recap of day one
- PART 3: LEGAL AND REGULATORY FRAMEWORK
- The law of reinsurance - introduction
- The regulation of reinsurance
- Developments post Brexit
- Questions
- PART 4: PRACTICAL APPLICATIONS
- Reinsurance claims management
- Claims reserving
- Run-off and commutations
- Dealing with reinsurance disputes
- Final questions and summary
Speakers
Phillippa Rowe
Phillippa Rowe, senior partner of independent reinsurance consultants Phillippa Ross & Co., has over 30 years experience of insurance and reinsurance claims in Lloyd’s and the London market and internationally. She began her reinsurance career with 15 years with the Kiln group at Lloyd’s. She currently acts as arbitrator, mediator, expert witness and technical consultant in a wide range of claims, wordings and market practice matters and writes, lectures and provides training courses on similar subjects.
Simon Cooper
Simon is a consultant in the Global Speciality & Financial Risks team at DWF Law LLP. He has more than 35 years’ experience of advising clients in the London and international insurance and reinsurance markets and has extensive experience of acting in large scale disputes in England and Internationally. Simon also has comprehensive experience of mediation and other forms of Alternative Dispute Resolution.Simon is a member of the IUA Clauses Subcommittee and past secretary of the International Bar Association's insurance committee. He edited the second edition of ‘Reinsurance Practice & the Law’ and writes and lectures frequently on legal issues. He is the current Lloyd's Members Ombudsman
Richard Cook
Richard Cook is
Managing Director of PICC Solutions. He was previously Head of
Technical Adjusting at Charles
Taylor Insurance Services and Head of Reinsurance at Xchanging Claims
Services. He has over 37 years insurance claims experience in the
Lloyd’s and London Insurance Company Market; joining Xchanging from a
specialist Reinsurance Lloyd’s Managing Agency, where
he was the Group Claims Manager. He has served on numerous major London
Market claims committees and has appeared as a Fact Witness in coverage
litigation before various United States Federal and State Courts. He
has acted as an Expert Witness on London Market
Claims Practice in the United States Federal Court in New York and in
the High Court in London.
David Brackenbury
David Brackenbury has been working in the Lloyd’s Market since 1980. A Broker for 26 years, in 2006, David set up David Brackenbury Associates, a consultancy that brings experts in loss adjusting, forensic accounting, audit, compliance and investigative services from around the world to the Lloyd’s, London and European insurance marketplace. David is a Board Member of the Association of Insurance and Reinsurance Service Providers (AIRSP) and is a Practicing Associate of the Academy of Experts. David has been involved throughout his career with the negotiation and settlement of losses in the Lloyd’s, London and international insurance and reinsurance markets.
