Certificate in Reinsurance (CRI)

For Whom

• Executives and Staff in reinsurance companies who support the underwriting, technical accounting and claims functions in their organisations
• Executives and Staff in reinsurance broking firms who support the broking, administrative, technical accounting and claims functions in their organisations
• Executives and Staff in reinsurance departments of direct insurance companies who support the placement, technical accounting and claims functions in their organisations
• Non-operational support staff in reinsurance and reinsurance broking companies
• Staff of regulatory bodies whose job responsibilities require a broad understanding of the principles and practical applications of reinsurance
• Participants should, preferably, have 6 months of working experience in reinsurance companies or direct insurance companies or insurance intermediaries

Objective
To provide certification for those in the insurance and related sectors whose jobs require them to have working knowledge of reinsurance principles and practices, as well as those who wish to gain basic understanding of the reinsurance.

Contents

• Chapter 1 - Introduction to Reinsurance
• Chapter 2 - The Reinsurance Market
• Chapter 3 - Forms of Reinsurance
• Chapter 4 - Facultative Reinsurance
• Chapter 5 - Proportional Treaties
• Chapter 6 - Non-Proportional Treaties
• Chapter 7 - Reinsurance Accounting
• Chapter 8 - Contract Wordings
• Chapter 9 - Life Reassurance
• Chapter 10 - Office Practice Procedure
• Glossary

Structure & Format
100 multiple-choice questions, comprising:
Part I - 80 questions; and
Part II - 20 questions involving calculations

Duration
2 hours.

Entry Requirement
Candidates who register for the CRI programme must pass the Basic Insurance Concepts And Principles (BCP) examination as a prerequisite for CRI examination registration.

Minimum Passing Grade & Result Slip
To obtain the SCI Certification in Reinsurance, the candidate must achieve:
(a) a minimum grade of 40 marks for Part I and 10 marks for Part II; and
(b) an overall passing grade of 70%, that is 70 marks.

One mark will be awarded for each correct answer to a question of each Part.
No mark will be deducted for any wrong or blank answer.
No Certificate will be issued. Only Result Slip will be issued.

Examination & Registration Fees (inclusive of prevailing GST)

For details, please please refer to the Exam Fees section.

Study Materials / Updates
Candidates would use the eBook to prepare for their examinations. Please note that hard copy study texts will no longer be issued. Any updates to the contents of the study text will be incorporated into the eBook. You may refer to the Version Control Record found at the back of the eBook to check the updates.

For details, please refer to Study Texts section.

Examination ModeEnglish Medium - Computer Screen Examination (CSE)
The candidate can self-study for the closed book examination.

Examination Frequency & Schedule
The examination is normally conducted two to four times a year on a weekday.

For details of the examination dates, please refer to the Examination Schedule section.

Examination ResittingThere is no limit on the number of times that a candidate can sit for an examination.

Exemption
No exemption is granted.

RegistrationFor details, please refer to the Examination Registration Policies.

CPD HoursUpon passing the examination for this module, you are entitled to 2 CPD Hours.

Recognition of Prior Learning (RPL) credits awarded by the Chartered Insurance Institute (CII)

All candidates who pass the CRI examination are eligible to apply for 15 Certificate-level non-unit specific credits in the Insurance qualifications framework at the following link: www.cii.co.uk/prior-learning. Candidates are however advised to familiarise themselves with the CII RPL Scheme rules and application process before submitting their applications.

Please take note that the above-mentioned CII RPL Credits are valid until 31 January 2023.

It is the sole responsibility of the candidate concerned to apply directly to the CII for any RPL Credit subject to the terms and conditions as specified by the CII.

Please take note of the following important statement from the CII:

1. At its sole discretion the Chartered Insurance Institute reserves the right to make, amend and or withdraw credit awards for prior learning the subject of this application at any time, on due notice as it sees fit and without monetary compensation. Under no circumstances will the Chartered Insurance Institute accept any liability for consequential indirect or special losses or special damages of any kind arising out of or in any way connected with the awarding or withdrawal of credit awards for prior learning.

2. The award of credits for prior learning in the CII's qualification framework is a privilege and not a right and it is expressly agreed that there is no intent to bring legal relations into being or otherwise establish a contractual relationship between the parties.

Programme Changes
The SCI solely reserves the right whether or not to accept any candidate, or to make any changes (including the fees) owing to any unforeseen circumstances, or when it considers necessary or appropriate to do so.