Course Description
Risk identification, risk evaluation, and risk treatment methods for Honors students. 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 courses.
Athena Title
Risk Management Insurance Hon
Equivalent Courses
Not open to students with credit in RMIN 4000, RMIN 4000E
Prerequisite
Permission of Honors
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Course Objectives
This course is designed to give a student an overview of risk management and insurance principles and risk management practices of corporations. The first eight chapters of the book cover issues that relate to corporate risk management and insurance as well as individuals. However, at this point much greater emphasis is given to corporate risk management and insurance and the methods corporate risk managers use to identify and treat risk. A comprehensive study of risk management principles is made. Again with a corporate emphasis. Finally, standard clauses found in commercial insurance policies are examined as well as risk management alternatives to insurance. Then the class changes its emphasis to the risk management needs of the individual and includes pure as well speculative risk issues. The risk management needs of the individual are divided into the separate stages of their adult life: 20-35; 36-50; 51- (62-67); retirement and death. Risk management issues are also divided as to the individual and the family. All types of personal insurances are intensively studied and include but are not limited to: Auto and other motor vehicles, homes and their contents, watercraft, personal umbrellas, health insurance, disability insurance, life insurance, long term care insurance and annuities. Management of pre mature death is studied as well as living too long. Related to these topics are: asset accumulation, asset management and asset disbursement.
Topical Outline
Introduction to risk - 1 Risk Identification and evaluation - 2 Property liability loss exposures - 3 Life, health, and loss of income loss exposures - 4 Risk management techniques; no insurance methods - 5 Insurance as a risk management technique: principles - 6 Insurance as a risk management technique: policy provisions - 7 Selecting and implementing risk management techniques - 8 Risk management for auto owners - 13 Risk management for homeowners -15 Loss of life - 16 Loss of health - 17 Retirement planning and annuities - 18 Employee benefits - (19&20) The last week of the class students must give a 10-minute oral presentation on the subject of their 15-page term paper. The class is divided into teams of 2 or 3 students and each team much write a term paper and give an oral presentation with an emphasis on delivery, and visual aids. The paper is supposed to have the content. The presentation is a formal one like one given to a board of directors by an employee. The subject of the term paper must be pre-approved by the professor (me) and be a topic not covered in any detail in class.
Syllabus