24-Sep-2014

Westin Casuarina Resort

Captive Basics 2014 Education

 

Location Westin Casuarina Resort, Galleon Ballroom A
Date Wednesday September 24, 2014
Duration This will be a full day course from 8:30am till 4:30pm.
Who May Attend No prerequisites, anyone may attend who is interested. Priority will be given to those employed in the captive insurance industry.
Class Size Maximum of # 100
Materials Where possible, course materials will be made available registered attendees to print and bring to each session (click here for course materials). Hardcopy will not be provided.
Cost US$91.46 (CI$ 75.00) per person. Payable by member firm.
Registration Details and a registration form will be distributed to Insurance Managers and local Associate Members.

 

Overview: IMAC's Education Committee invites personnel in our industry to attend a 'captive basics' course. Certificates will be awarded to successful participants. The course will be presented by recognised leaders in Cayman's Financial Services industry and accordingly offers a unique opportunity to all those who attend and serves as a foundation for the Associate in Captive Insurance (ACI) professional designation which is available through ICCIE - (click here for information on continuing education).

Presentations are now available from our Resources / Presentations page. The Agenda below is also available as a PDF (click here)

SESSION 1   8.30-10.00 am RISK AND INSURANCE  

PRESENTERS       Kieran O’ Mahoney        Barbara Austin        Andrew Cater

  • Understanding risk
  • Principles of insurance
  • Underwriting
  • Reinsurance
  • Self insurance vs risk transfer/commercial insurance
  • Captives on the self insurance spectrum
  • Cayman as a captive domicile
  • Types of captives
  • SPC’s
  • Direct writing vs fronting
  • Captives for third party risks

 .................................................................................................................. 

SESSION 2   10.15-11.45 am  RISK MEASUREMENT

PRESENTERS       Ashita Shenoy        Kieran O’ Mahoney                   James Trundle

  • Lines of coverage
  • Tail
  • Types of coverage
  • Premiums, loss ratio, expense load
  • Actuarial science
  • Measuring and valuing exposures for premium funding purposes
  • Claims reserving
  • Measuring and valuing exposures for reserving purposes
  • The purpose of capital
  • Insurance and reinsurance documentation

 ..................................................................................................................  

BUILD A LUNCH   12.00-1.00 pm

 ..................................................................................................................  

SESSION 3   1.15 – 2.45 pm    REGULATION AND MANAGEMENT

PRESENTERS       George Kamau        TC Leshikar        Stefanie Suckoo

  • International regulatory framework
  • Compliance with laws and regulations
  • License classes
  • Investment policy
  • Taxation
  • Governance
  • Record keeping for captives
  • Run-off and liquidation
  • Mergers and acquisitions
  • Captive successes and failures

  .................................................................................................................. 

SESSION 4           UTILIZATION AND DEVELOPMENT

3.00 – 4.30 pm

PRESENTERS       Kevin Poole        Michelle Wouda Lewis        Linda Haddleton

  • Health care and long term care captives
  • Agency captives
  • 831(b) captives
  • Life/Annuity/Investment wrap products
  • Group captives
  • Catastrophe bonds
  • Competing domiciles
  • Industry developments
  • Emerging risks

  .................................................................................................................. 

 



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