Certificate in the Business of Insurance

The Certificate in the Business of Insurance is a unique program that has numerous benefits for both individuals and corporations. Since the program covers a wide range of topics, students come away with a breadth of knowledge that is substantial and practical and that can be applied in their professional as well as personal lives. For corporations, the course provides a solid foundation in all aspects of this complex industry and can be used to prepare new employees and those who need to broaden their understanding of the field.

The Center is uniquely qualified to offer this program due to its ability to call upon scholars, accomplished executives and specialists in the insurance and financial services fields. In this way, the Center can present the most recent developments in risk and insurance from both academic and pragmatic viewpoints.

The topics covered are:

  • Risk Management - the risk management process, alternative risk management strategies, enterprise risk management
  • Regulation - analysis of leading Supreme Court cases, McCarran-Ferguson, areas that are regulated, current trends
  • Insurance Company Operations - analysis of leading departments in an insurance company, including underwriting, claims, production, reinsurance, investments
  • The Law of Contracts - how the contract is formed, legal provisions that affect contracts, role of the course in contract interpretation
  • Property and Casualty -  types of products offered by both segments, examples of the policies represented by both segments: property - CBPP and business income policies; casualty - CGL and professional liability policies
  • Life and Health -  common products offered: life – term, universal, variable, group; health – PPO, HMO, ASO. Also includes a discussion of employee benefits
  • Ethics  -  focuses on issue-oriented, “real-life” case studies
  • Underwriting and Distribution -  process of underwriting, individual company guidelines as a standard of underwriting, cyclical nature of the business (e.g., hard or soft market), cash for underwriting, considerations during perilous times. Distribution will cover the independent agency system, exclusive agency system, direct marketing, the internet, and mass media
  • Reinsurance  -  treaty vs. facultative reinsurance, proportional vs. non-proportional reinsurance, role of reinsurance in maintaining the financial solidity of the industry
  • Analysis of Insurance Company Financial Statements -  in-depth discussion of the NAIC financial blank
  • Current Trends in Insurance – director & officers insurance, medical malpractice, tort reform, Terrorism Risk Insurance Act (TRIA)
  • Marketing Strategies – theories underlying insurance marketing: segmentation, development, penetration, product development
  • Insurance and the Courts – analysis of leading litigation affecting the insurance industry, Supreme Court ruling on the Family Medical Leave Act

The program meets on four consecutive Thursdays, and yields 15 Continuing Education credits. Tuition for the Certificate in the Business of Insurance is $1,795.

For more information and to receive a schedule and registration form, call (212) 277-5161 or email us at cpe@stjohns.edu..