The Certificate iin 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.
This program will be taught by Professor Richard
Bennett, MBA, MA, CPCU, ARM, ARe, AMIM, AAI, API, ARC,
RPLU, and AIM. Professor Bennett was named Outstanding
Professor of the Year, Tobin College of Business, for the academic
year 2002-2003.
Topics Covered
- 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
For Spring 2007, the Business of Insurance will meet on 12
Tuesday evenings from 5:30 - 8:00., beginning January 16.
Tuition for the program is $1795.
For more information and to receive a registration form, call
(212) 277-5161 or email us at cpe@stjohns.edu..