This is a beginner's guide to Reinsurance. Most of us are familiar with Twin Tower attack, Floods, Icelandic Volcanic eruptions, Tsunami, Katrina, Gonu and a host of other disasters. Insurers and the personnel working in the Insurance Industry may be familiar with the concepts of Reinsurance. However in general a vast majority of us may not be aware of the basics of Reinsurance. The author with his over 27 years of experience in the Insurance Industry has presented the concept of Reinsurance in simple terminology easily understood by the technical experts as well as a common person. . The topics covered are history of Reinsurance, benefits of reinsurance, basics of Reinsurance, designing reinsurance program, Reinsurance Glossary etc. It will act as an appetizer for those who want to enter into the field of Reinsurance. It is useful for anyone wanting to understand the basics of Reinsurance
About the Author: Sadullah is working as a Senior Faculty Member at Center of Insurance Studies, The Institute of Banking, Saudi Arabian Monetary Agency. He joined IOB in April, 2009. He works on the development of Insurance curriculum and provides training on various Insurance Subjects including IFCE and Non-Financial Risk Management (CPFP Diploma Program). Past Experience: He has over 27 years of experience in Insurance Industry. Prior to joining IOB, Sadullah worked in Business Development for Royal and SunAlliance Insurance in Riyadh and Dammam for 14 years. He has also served as an Assistant Branch Manager (Direct Recruit) for New India Assurance Company based in Mumbai for almost 5 years. Prior to this he worked for India's South Central Railways, Hyderabad. He also worked as a General Manager for the Landmark Marketing Agencies for their food and Office equipment's division. He had an experience of teaching Management Subjects to MBA students and guiding them in their Market Research Projects as a Faculty Member at IIAS. He was also a Consulting Director, CMS, Mumbai, providing advice on insurance, recruitment, market research and preparation of market reports. He has also done numerous Research Projects for Creative Management Services, New India Assurance Company, Royal and SunAlliance and MARG - Market Research Group (currently owned by AC Neilsen). Education: Sadullah received his M.B.A. degree from Berhampur University and was a topper in his University. He is a Fellow of Insurance Institute of India and also a Fellow of Chartered Insurance Institute of U.K. He is a Chartered Insurance Practitioner. Presentations and Publications: He had contributed many letters and articles to various publications. He was the founder and contributor for the Insurance Q & A column started by the Saudi Gazette, English Newspaper of Saudi Arabia. He has contributed articles on Insurance to Saudi Gazette, Saudi Commerce and Economic Review (English magazine published by the Asharqia Chamber). He was one of the Organizers and Speakers at the First Saudi Insurance Symposium. He has reviewed and edited many books, he is also the sole author of the following books, - Savings on Motor Insurance. - Understanding Health Insurance - Who wants to be a millionaire and other episodes - Customer Service - Understanding Health Insurance