This course provides an in-depth discussion of risk management in non-financial firms including analysis of techniques that firms use to manage risks. Risk management strategies and how they are applied to business problems are discussed. Some of the techniques examined include self-insurance, captives, financial instruments, and retentions.
Students who earn a C or better in FINN 4275 may apply to The National Alliance for credit for the CRM Financing of Risk exam waiver. Once accepted by The National Alliance, this CRM part may be included on your resume. Students may also enroll for the CRM Principles of Risk Management exam for a reduced fee of $100. Students earn the UACRM designation for completing both these exams. They may take the additional CRM exams for $100 each while in the program. Candidates for CRM must pass all 5 CRM exams.
Course Objectives
1. Facilitate a comprehensive understanding of the role of risk management within a business environment.
2. Understand the interaction of laws, regulations, and insurance in risk management decision-making.
3. Understand the challenges confronting risk managers in the current environment and the tools available to assist in analysis.
4. Apply the risk management process to a commercial enterprise and present an organized analysis of that application.
An in-depth examination of the operations of property and liability insurance companies in a dynamic business and regulatory environment. Insurer strategies and functions are examined with a focus on underwriting, actuarial activities of ratemaking and loss reserving, claims, marketing, and risk management. The impact of the effects of the global, technological, and legal environments on insurer operations are emphasized.
Students who earn a B or better in Finn 3273 may apply to The Insurance Institute of America for credit for Chartered Property & Casualty Underwriter Exam 540 (Contributing to Insurer Financial Performance). Once accepted by The Institutes, this CPCU part may be included on your resume. Receiving the CPCU designation requires completion of eight exams.
Course Objectives
1. Explain the core and supporting functions of a property and casualty insurer and the interactions between them.
2. Summarize the environment, regulations, and restrictions in which property and casualty insurers operate.
3. Examine the lines of insurance available from property and casualty insurers and the limitations of those lines.
4. Interpret information contained in insurer financial statements and determine how this information is used.
5. Assess current and emerging global, catastrophic, legal and technological risks that have significant impact on insurer operations and methods insurers use to manage those risks.
Course Description
A study of the different types of nonspeculative risks faced by individuals and the methods of treating such risks. This course includes an analysis of risk management methods with regard to automobiles, homes, personal health, life insurance and retirement planning.
Prerequisites: INFO 2130, junior standing, business major or permission of department.
Course Objectives
1. Understand the principles and terminology of risk management and insurance.
2. Understand the role of risk management and insurance for individuals and families.
3. Explore ethical issues in the insurance industry.
4. Illustrate the principles and theories of insurance by examining the commonly purchased policies: homeowners, personal automobile, health insurance, and life insurance.
5. Create a register of your personal risks and techniques for managing those risks.
This course will provide an in-depth analysis of current and emerging risk management and insurance issues through study, discussion and experiential learning.
Course Objectives
1. Understand the underwriting process, including underwriting risk appetite, and underwriting financial performance.
2. Understand reinsurance concepts and how the concepts apply within a specific risk financing strategy.
3. Understand Excess & Surplus Lines products, markets and distribution systems
4. Comprehend the structure and operation of the Lloyd’s of London Market.
5. Understand the importance of technology and innovation in risk management and insurance.
6. Understand specific types of risks and related techniques for loss control and risk transfer
This course provides an in-depth analysis of current and emerging catastrophic risk management issues through study, discussion, research, and presentation. Students will examine catastrophic risk in the US and research a topic determined by the student’s interests and approved by the instructor. This course will culminate with a trip to Munich to attend the Catastrophic Risk Management seminar for undergraduates at Ludwig-Maximilian-Universitat where all attendees will share their research.
Course Objectives
1. Understanding Catastrophic Risk: Students will gain a comprehensive understanding of catastrophic risk, including its sources, impact, and significance in the global economy and risk management and insurance industry.
2. Analyzing Risk Management Strategies: Participants will learn to evaluate risk and management strategies specific to catastrophic events.
3. Exploring Catastrophe Modeling: Students will learn the principles of catastrophe modeling, including exposure data, historical trends, and the use of catastrophe models to estimate potential losses.
4. Research and Presentation Skills: Students will develop research and presentation skills by investigating a topic related to catastrophic risk, culminating in a presentation at the Catastrophic Risk Management seminar in Munich.