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.
Athena Title
Risk Management and Insurance
Equivalent Courses
Not open to students with credit in RMIN 4000, RMIN 4000H
Non-Traditional 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.
Syllabus