Introduction to Insurance

Course Code :2107TEWFIN
Study domain:Accountancy & Audit
Academic year:2018-2019
Semester:1st semester
Contact hours:30
Study load (hours):84
Contract restrictions: No contract restriction
Language of instruction:Dutch
Exam period:exam in the 1st semester
Lecturer(s)René D'hondt

3. Course contents *

Legal and regulatory framework for insurance (2 sessions)
European directives, WLVO (terrestrial insurance contract), Insurance Companies Supervision Act, Supervisory Regulation, Distribution, Accounting, etc.  Objectives and methods of framework legislation and regulations.
Overview of insurance (2 sessions)
Brief description of current insurance
Compulsory and optional insurance and guarantees
Underwriting policy of an insurance company (1 session)
Measuring risk, risk categories, segmenting, setting premiums using statistical materials
Financial and economic key figures for insurance (1 session)
Turnover and payments, provisions and investments, profitability, solvency
The banking crisis and its impact on the insurance industry
Economic transformations – accounting aspects – the bank-insurance model (“bancassurance”) – trends in supervision
Social insurance versus private insurance (1 session)
Characteristics of Belgian schemes for pensions, health care, unemployment, occupational diseases, child allowance, occupational accidents
Special and current topics in insurance (4 sessions)

Private health insurance (Verwilghen law, Demotte law, Reynders law, competition between insurers and health insurance funds, etc.)
Insuring damage resulting from an act of terrorism
Insuring damage resulting from a natural disaster
Evolution of liability insurance (including class actions, consumer protection, corporate liability, etc.)
Credit insurance