Business organizations are exposed to loss-causing events that may have significant impact on their financial position. This course explores the analysis, control and financing of property, liability and personnel loss exposures. Risk analysis includes loss-forecasting studies using microcomputer spreadsheets. Risk control focuses on principles of loss causation and mitigation and techniques for implementing risk control strategies. Risk financing alternatives include both funded and unfunded approaches.
Case studies synthesize the risk management concepts covered in the course.
A detailed analysis of the operations of property and liability insurers, including marketing, underwriting, ratemaking, claims adjustment, and other phases of insurer operations. The regulatory environment is also explored. A computer model of an insurance company is used to illustrate the relationships between the various phases of insurer operations and regulation. This course introduces the nature of life and health insurance risks and explores some of the products sold by life insurers to deal with them. Selected legal, financial planning and company operations are covered, including underwriting, marketing and product design.