This new blended-learning format consists of three individual parts:
Part 1 - What creates the need for a Multinational Admitted Insurance Program? (pre-recorded webinar - 52 min)
Part 2 - Structures & Implementation Considerations of the Multinational Admitted Insurance Program (pre-recorded webinar - 1h 18 min)
Part 3 - Case Study, Live Session (90 minutes)
Overview:
- Understand a goal of the Multinational Admitted Insurance Program, its key elements, complexity of compliance with local laws internationally and program benefits/costs
- Understand differences in basis of coverage options
- Learn tools aiding in developing and administering a Multinational Admitted Insurance Program, premium allocation
- Acquire knowledge about program implementation structure
REMOTE OPTION IS AVAILABLE
When you register for this live session, you will receive an automated email with an access to two pre-recorded webinars defined below. Please view them on your own prior to January 31, 2019 to participate in case study session. Login instructions will be sent to you three days before live session.
To earn the AIMU Global Admitted Policies Certificate:
1. Register and attend the live Case Studies session (This class can be attended in person at 14 Wall Street in New York City or as a remote attendee.)
2. Complete Parts 1 & 2 prior to the Case Studies session.
3. Electronic test link will be emailed to you later on. This additional learning resource allows you to self-test up to 5 times until you receive a passing grade of 75%
Presenter: Andrew D'Alessio, Head of Ocean Cargo, Americas, AXA XL
WHO SHOULD ATTEND: This education is directed toward mid and senior level insurance professionals interested in learning about admitted insurance programs, structures, and implementation considerations to meet the compliance needs that exist in today’s globalized economy.
Continuing Education Credits:
NAMS - 4 credits; SAMS - 4 credits
State Insurance Departments:
4 credits in NY
This program consists of 3 parts.
Part 1 - What creates the need for a Multinational Admitted Insurance Program? (52 min)
- Global Programs - Context
- Benefits & Cost
- Emerging Trends
- Complexities
- Multinational Concepts and Insurance Programs Solutions
- Business Case
- Insurance Solutions for Multinational Companies
- Legal Compliance – examples
- Consequences of Non-compliance
- What to Consider When Insuring International Risks
- Tax Compliance – Marine Cargo Taxes
Part 2 - Structures& Implementation Considerations of the Multinational Admitted Insurance Program (1h 18 min)
- Structure and Implementation Considerations
- What is a Global Program?
- Basic of Cover Options
- Key Elements of a Global Program
- Goal of a Global Program
- Global Program Compliance
- Differences Between the Basis of Coverage Options
- Design of a Global Program
- Example of a Global Program
- Freedom of Services (FOS) Policy Compliance for Exposure in Europe
- Global Program Design Tools
- Basic Principles of an International Program
- Key Regulatory Compliance & Program Structuring Information
- Implementation of a Global Program
- Overview of Underwriting Process
- Structuring Global Programs
- Premium Allocation
- Policy Issuance Fees
- Taxes
- Master Policy Wording
- Local Policy Reference Wording
- Complex Global Programs & Captives
- Possible Structures of Global Programs – Quota Share
- Possible Structures of Global Programs –Excess of Loss
Part 3 - Case Study – Live Session (90 minutes)
The case study will draw on information covered in Parts 1 and 2 and apply it to a real business case including taking in premium for the (fictional company) Zimmer; identifying the marine cargo exposures throughout the world; determining what basis of coverage options they will need in the countries in where they conduct business; analyzing the necessity of the global insurance policies in some of those jurisdictions, also the title and risk of law; reviewing premium allocation and applying taxes, and finally forming the complete global program process.
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Special Assistance: In Compliance with the American's with Disabilities Act, AIMU will make all reasonable efforts to accommodate persons with disabilities at its meetings. Please call John Miklus at (212) 233-0550
Program Features: Continental Breakfast Lunch Handouts & Lecture Notes Continuing Education Credits
Refunds/Cancellations Refund requests will be honored if received at least 48 hours prior to the scheduled start date. All refunds will be subject to a processing fee of 4%.
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