A study of pure risk and risk- bearing, including insurance and non-insurance methods of handling risks; introduction to life, disability, property, marine, and liability insurance. F,Sp

A study of the analysis and treatment of the pure, nonspeculative risks faced by the business firm. The development of the risk management process, exploration of the use of various risk management techniques on identified exposures, and application of the process and those techniques in a risk management case study. Applicable to any business major and to various non-business majors. Introduction to the concept of pure risk and the minimization of its costs to businesses, nonprofit organizations, and government bodies. Prerequisite: RMIN 2005 or permission of department head.

Development of the life insurance business; carriers, types of insurance and annuity contracts and their uses, premium and reserve computation and state regulation, and problems on life insurance programs for individuals, families, and institutions. Prerequisite: RMIN 2005 or permission of department head. F

Analysis of the nature of health and social insurance; hospitalization and medical insurance, surgical benefits, major-medical coverages, disability income contracts; causes, extent, and economic consequences of old age dependency, unemployment, and disability. Prerequisite: RMIN 2005 or permission of department head.

The use of accounting information to evaluate the financial stability and financial strength of insurance companies. Not open to accounting majors. (Same as ACCT 3019). Prerequisite: RMIN 2005; Junior standing or permission of department head. Sp

Operations of an insurance company, including regulation, underwriting, claims, ratemaking, and the financial accounting process and global strategies of an insurance organization. Prerequisite: RMIN 2005

Use of commercial property insurance and other risk management techniques to address an organization’s property loss exposures. Prerequisite: RMIN 2005

Use of commercial liability insurance and other risk management techniques to address an organization’s liability loss exposure. Prerequisite: RMIN 2005

A study of the excess and surplus lines markets as well as the reinsurance sector of the insurance industry. With the multinational and complex nature of many firms, more insurance protection is purchased from surplus lines companies or associations like Lloyds of London, or self-insured by way of captive insurers established off-shore. The use of captives often places the firm in the position to deal directly with the reinsurance market. The formation and classification of these companies, their regulation, the products they sell, how they market the products, their accounting procedures, their financial statements, and their comparison to primary insurers, are covered. Prerequisite: RMIN 2005 and 3020, or permission of department head.

A study of the application of various insurance coverage to fulfillment of personal, business, and social needs. Students are assigned special projects in the field of their interests. Prerequisite: RMIN 2005, RMIN 3020, and RMIN 3021, or permission of instructor. Sp, even

An analysis of the legal system as it relates to risk management and insurance concepts and the application of business laws to insurance and risk management transactions. Prerequisites: RMIN 2005, BLAW 4001