Brief Course Description
1. Course Title:
Principles of Risk Management & Insurance
2. Language of Instruction:
English
3. Course Code:
FIN505175
4. Credits:
3
5. Course Objectives:
This course provides students with fundamental knowledge of risk, risk management, and insurance instruments used in corporate risk management.
6. Brief Description of Course Content:
This course expands on the concept of risk, methods of risk classification, and various applications of risk management, including commercial and personal risks. It helps students understand the role of insurance in risk management and provides the ability to describe and analyze different types of insurance products available in today’s market. The course also examines the role of the insurance industry in the economy, the financial market, and the business community as a whole. It covers how individuals and corporations apply risk management and insurance techniques to mitigate potential losses.
Insurance is the primary mechanism for managing risks in society. Understanding this concept enables students to grasp how individuals and organizations manage risks through insurance products. Students will explore the essential components of insurance contracts and develop an understanding of how claims arise and are managed.