| Course ID: | RMIN 4000E. 3 hours. |
| Course Title: | Risk Management and Insurance |
Course
Description: | Risk identification, risk evaluation, and risk treatment
methods. Consideration is given to both business and personal
risks, with an emphasis on insurance as a risk management
tool. Designed for non-majors as well as a basis for more
advanced major courses. |
| Oasis Title: | Risk Management and Insurance |
| Duplicate Credit: | Not open to students with credit in RMIN 4000, RMIN 4000H |
| Nontraditional Format: | This course will be taught 95% or more online. |
Semester Course
Offered: | Offered every year. |
| Grading System: | A-F (Traditional) |
|
| Course Objectives: | Upon successful completion of the course, students will have
achieved competence and understanding in the area of general
risk management and its importance to both person and business
endeavors. The successful student will have knowledge of the
risk management process and the ability to identify and analyze
various types of risk, including property, liability, life,
health and income risks. Students will be evaluated primarily
through the use of multiple-choice examinations and will be
scored additionally based on assignments. |
| Topical Outline: | 1. Basic Concepts in Risk Management. This section introduces
the concept of risk in our society and the process used by both
corporations and individuals to identify, analyze, and manage
that risk.
2. Secondary Risk Management/Legal Principles in Risk and
Insurance. From a contractual perspective, this section
assesses the legal environment, introduces the fundamental
provision in the insurance contract, and follows with a study
of choosing and implementing risk management techniques.
3. Property and Liability Risks. From a personal risk
perspective, this section addresses the common exposures of
auto and home risks and analyzes the impact on the individual,
society, and the environment. Insurance products used to
transfer risk are reviewed. Particular attention is placed on
differing global attitudes concerning these risks and their
treatment.
4. Life and health risks. This section addresses life and
health risks, the insurance issues stemming from this risk, and
retirement planning. In addition to introducing the various
types of contracts available for managing these risks,
particular attention is placed on demographic diversity for
employer plans, the impact of government oversight, and the
social aspects of providing employee benefits.
5. The insurance industry. As a regulated industry, this
section introduces the social and political rationale for
regulations and how the insurance product works. Types of
insurance companies and the marketing systems available are
also discussed. |