Principles of Risk Management and Insurance

Catalog description

Principles of Risk Management and Insurance is designed to provide students with a broad introduction to the different kinds of risks faced by individuals and businesses and the conceptual framework for mitigating and managing those risks. This will be explored primarily through the use of insurance products and structures. We will examine the application of these methods with regards to life, health, property, casualty and liability insurance contracts. First, we will explore how to identify risks faced by individuals and businesses and develop a thorough understanding of the risk management process. Next, we will survey the insurance industry from an economic, structural, and regulatory perspective. We will then study property, casualty, and liability contracts both from an individual and a business/corporate perspective. The final section of the course will cover life and health insurance risks and specific insurance contracts, including retirement plans, employee benefits, and annuities. Throughout the semester students will be exposed to current risk related topics and issues and they will be able to demonstrate their understanding of them through presentations, group projects, and a final paper.