Continuing Education Courses for the Captive Industry

Property and Casualty Reinsurance Fundamentals - $79

Course Description

Property and Casualty Reinsurance Fundamentals provides a "macro" overview of the key themes associated with reinsurance. It is intended as an introduction to reinsurance for CFOs, risk managers, insurance buyers, brokers, insurance underwriters, and insurance executives who would like to better understand the reinsurance mechanism and the industry that supports it without trying to become reinsurance experts. The course highlights some key aspects of reinsurance as well as some of the more vexing issues. The goal is to provide a generic understanding of reinsurance and the reinsurance industry, which is somewhat apart from the general insurance industry.


Captives as Risk Retention Mechanisms - $79

Course Description

The first in a series of courses covering the fundamentals of risk finance and captive insurance, this course discusses the concept of "cost of risk" (COR) and how captive insurance can be used to reduce these costs. After completing this course, you will understand what a captive is, how a captive can be used to reduce the COR, and the different types of captives that are in use today. You’ll also understand the various functions that must be performed by a captive to be effective. Lastly, you will be introduced to the tax and accounting issues that impact the effectiveness of a captive in managing the financial impact of risk. This course is partly based on the best-selling book Captives and the Management of Risk, by Kathryn A. Westover.


Captives as Risk Transfer Mechanisms - $79

Course Description

The second in a series of courses covering the fundamentals of risk finance and captive insurance, Captives as Risk Transfer Mechanisms focuses on how captives are used when risks are transferred between risk takers to improve risk financing efficiency. You will learn about the types of risk that can be placed in a captive, techniques used to quantify risk and develop insurance rates, the underwriting processes, and how reinsurance is used to protect the captive. The flexibility of captive insurance allows captives to finance risk off or on balance sheet, depending on which approach delivers the most financial benefit. The course will also provide an overview of some of the approaches of accomplishing this, such as with finite risk protection, loss portfolio transfers, and special purpose vehicles. This course is based on content included in Captives and the Management of Risk authored by Kathryn A. Westover and published by IRMI.


Forming and Operating a Captive Insurer - $79

Course Description

The third in a series of courses covering risk finance and captive insurance, Forming and Operating a Captive Insurer examines three aspects of captives with emphasis on the legal environment in which captives must operate: the formation of a captive, captive operations, and the issue of unrelated business. Students who successfully complete this intermediate-level course will understand the risk management purposes of using a captive, the differences between various types of captives, the factors affecting the choice of domicile for a captive, the filing procedures involved in forming a captive, and the responsibilities of a captive's board members. This course is based on content included in Captives and the Management of Risk authored by Kathryn A. Westover and published by IRMI.