Mutual Director Certification (MDC) Program - Maintenance

Reinsurance Building Blocks for Board Members

This module will provide an overview of the board's role in the oversight of a company's reinsurance including the fundamental role reinsurance plays in managing company risk exposures, adding capacity for new products and new markets, and ensuring the solvency of the company. This module will also cover the reinsurance market including the roles of brokers, reinsurers, and advisors (catastrophe modelers, analytics providers, etc.).

Investment Fundamentals for Board Members

This module will provide an overview of the board's role in the oversight of investments focusing on the role investments play in company operations, solvency, and profitability. This module will emphasize the board's responsibility for investment philosophy and the investment policy statement, regulatory requirements for investments, and the board governance process focusing on investment committee and board actions.

Measuring Your Company's Performance

This module will provide insights into industry performance metrics to help companies in decision-making. Areas covered include quantitative measures of profitability, leverage, and liquidity; financial ratios and other qualitative measures reflecting spread of risk, reinsurance, reserve adequacy, and surplus management; and overall benchmarking and application of metrics for company governance.

Board Evaluation

This module will provide a focus on the principles underlying board assessment and development and understanding the risks of assessment if not properly done. In addition to the risks, an assessment of the benefits of board evaluation will be done. This session examines approaches to board evaluation and reviews the 360 degree evaluation process and board self-assessments. It also touches on providing feedback of the results to the full board versus to individual directors.