Global Insurance: An Overview of Multinational Admitted Insurance Programs

Wednesday 27 January 2021, 02:00pm - 03:30pm
     

REGISTER HERE

Remote option only

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 Virtual 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

Important Details 
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 the class to participate in case study session. 


To earn the AIMU Global Admitted Policies Certificate:

1. Register and attend the virtual Case Studies session.    
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 DAlessio
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)

  1. Global Programs - Context
  2. Benefits & Cost
  3. Emerging Trends
  4. Complexities
  5. Multinational Concepts and Insurance Programs Solutions
  6. Business Case
  7. Insurance Solutions for Multinational Companies
  8. Legal Compliance – examples
  9. Consequences of Non-compliance
  10. What to Consider When Insuring International Risks
  11. Tax Compliance – Marine Cargo Taxes

Part 2 - Structures& Implementation Considerations of the Multinational Admitted Insurance Program (1h 18 min)

  1. Structure and Implementation Considerations
  2. What is a Global Program?
  3. Basic of Cover Options
  4. Key Elements of a Global Program
  5. Goal of a Global Program
  6. Global Program Compliance
  7. Differences Between the Basis of Coverage Options
  8. Design of a Global Program
  9. Example of a Global Program
  10. Freedom of Services (FOS) Policy Compliance for Exposure in Europe
  11. Global Program Design Tools
  12. Basic Principles of an International Program
  13. Key Regulatory Compliance & Program Structuring Information
  14. Implementation of a Global Program
  15. Overview of Underwriting Process
  16. Structuring Global Programs
  17. Premium Allocation
  18. Policy Issuance Fees
  19. Taxes
  20. Master Policy Wording
  21. Local Policy Reference Wording
  22. Complex Global Programs & Captives
  23. Possible Structures of Global Programs – Quota Share
  24. 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.

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 

Refunds/Cancellations/Substitutions: Refund requests will be honored if received at least 48 hours prior to the scheduled start date. Cancellations received after the refund deadline and "no shows" are subject to the full registration fees. Substitutions may be made by notifying AIMU via email. Please contact Elvira Rodin at erodin@aimu.org.

Location Virtual

Contact Elvira Rodin at 646-499-0313 or erodin@aimu.org
For CE credits, contact Eileen Monreale at emonreale@aimu.org or 212-233-1287