IT’S ALL ABOUT RISK

2 hours

• Introduction to Insurance Industry
• Insurance Industry Ecosystem
• It Starts with Risk
• Carrier Fundamentals
• Market Cycles
• Reinsurance
• Insurance Distribution
• Government Regulation of the Industry
• The Insurance Policy
• Commercial Insurance Coverages
• Surplus Lines/Wholesalers/MGAs
• Alternative Risk Transfer Mechanisms
• Claims
• Loss Control/Risk Management
• Introduction to Employer-sponsored Insurance (ESI)
• Healthcare
• Employer-sponsored Benefits
• Employee Benefits – Managing Risk
• Advocacy
• Looking Forward: Industry Trends

• An overview of what insurance is and the industry’s impact

• Explain the different segments of the insurance industry
• Identify who the players are and how they are interconnected
• Highlight the importance of the broker’s role
• Show traditional and non-traditional ways that businesses obtain insurance

• Understand fundamental concepts of risk and how risk is managed
• Understand what makes a risk insurable
• Recognize the role a broker plays in a client’s risk management
• Be introduced to common commercial risks

• Understand the operations of an insurance company (carrier)
• Know the types of carriers
• Understand basic underwriting concepts
• Understand the role of reinsurance

• Understand what hard and soft markets are
• Recognize how market cycles impact the industry and clients
• Insurance Market Cycles
• Current Market Conditions
• COVID-19’s Impact on the Market
• Social Inflation

• What is Reinsurance?
• Types of Reinsurance
• How the Reinsurance Business Operates

• Learn how insurance is distributed
• Recognize the difference between an agent and broker
• Understand the role of a broker
• Understand the process/value chain – how a broker works with clients, carriers,
• Learn the operations and roles in a brokerage
• Understand the importance of ethics

• Understand how the insurance industry is regulated
  • Federal level
  • State level
• Be aware of legislation that regulates the industry
• Learn what insurance programs are provided by
  • Federal government
  • State governments

• Learn the many types of coverages needed by commercial clients
• Recognize the value of specializing

• Policy concepts and structure
• Policy design – anatomy of a policy
• Essential insurance terms

• Understand what surplus lines are, when they are appropriate and how they are accessed
• Be introduced to Lloyd’s and its role in the surplus lines market
• Understand the role of a wholesale broker
• Learn what an MGA is and how/when they are used

• Understand what alternate risk transfer mechanisms are and how/when they are used
• Understand captives and alternate ways to transfer risk

• Understand the claims process and fundamental concepts
• Recognize the roles of the carrier and broker

• Understand what loss control/risk management is
• Understand the impact of mitigating exposures
• Recognize how/who implements loss control measures

• Introduction to employer-sponsored Insurance (ESI)
• Why it’s important for employers to offer benefits coverage

• Healthcare in the United States
• Introduction to employer-sponsored healthcare
• How Americans get health insurance
• Players in the healthcare delivery system
• How employer-sponsored healthcare works
• Types of group healthcare plans
• Prescription drug plans
• Government-sponsored health programs

• Learn the different types of ESI benefits offered by employers
• Differential private vs public programs
• Learn what government-sponsored programs are available
• Understand health savings and spending accounts
• Understand retirement plans

• Healthcare costs
• Cost containment strategies
• Wellness programs
• Self-funded plans
• Role of the employee benefits broker/consultant
• Impact of COVID-19 pandemic

• Learn what advocacy is and the role of The Council
• Understand current key issues facing the industry
• Understand what a Political Action Committee (PAC) is and why it’s important

• Hear from thought leaders about the future of the industry
• Explore current trends and emerging topics

• Sales
• Customer Service support
• IT
• Marketing
• Human Resources
• Legal and Compliance
• Administrative staff

• For Individuals:
  • Council Members – $50 per person
  • Non-Members – $75 per person
• For Organizations:
  Corporate discounts are available for firms interested in offering It’s All About Risk to their employees at scale:
  • 10 Users – $500
  • 30 Users – $1,200
  • 100 Users – $3,500
  • 250 Users – $7.000
  • 500 Users – $10,000
   Corporate registration can be completed here.

There are two ways to register:

• For individual enrollment
• For group registration

Any new hire that may also be new to the insurance industry including roles in:  Sales, Customer Service support, IT, Marketing, Human Resources, Legal and Compliance, Administrative staff, etc.

It’s All About Risk is an online, self-paced course for new-to-the-industry talent, and a detailed overview of all course details can be found here.

Please reach out to our team for questions or more information.