Course Objectives

This course aims to assist student in identifying and analyzing all types of risk and in managing it through insurance and alternative tools. After taking this course, students will be able to analyze insurance-related cases and understand how the system works.

Course Requirements

Students should be familiar with applications of various risk management, understand principles of insurance and be able to analyze insurance-related cases.

Course Contents

1)Part 1 Risk and the Risk Management Process

i.Objectives and Requirements: explore the nature of risk and lead into a detailed treatment of the risk management process

ii.Key points and Contents:

a)Nature of risk

b)Risk identification and evaluation

c)Risk management techniques

2)Part 2 Commercial Risk Management Applications

i.Objectives and Requirements: continue the risk management orientation with an emphasis on topics important for business entities

ii.Key points and Contents:

a)Various forms of insurance

b)Captive insurers

c)Disaster management and alternative risk financing

3)Part 3 Personal Risk Management Applications

i.Objectives and Requirements: devote to risk exposures involving personal automobiles and home-ownership

ii.Key points and Contents:

a)Insurance policy forms for dealing with the personal risk  

b)automobile safety, loss control

c)A range of risk management topics regarding automobile loss

4)Part 4 Risk Management Applications: Life, Health, and Income Exposures

i.Objectives and Requirements: discuss risk management dealing with the potential loss of life, health, and/or income

ii.Key points and Contents:

a)Social security and other government insurance programs

b)Role of managed health care

c)Qualified retirement plans

5)Part 5 The Risk Management Environment

i.Objectives and Requirements: analyze the risk management environment

ii.Key points and Contents:

a)Nature of the risk management and insurance industry

b)Government regulation and its impact on the insurance industry

c)Increased coverage of international insurance issues

Credits: 3