Businesses, families and individuals face the potential for loss from sources such as accidents, natural disasters and lawsuits. Washington State University Spokane will offer upper-division coursework in these programs for students transferring from other colleges and universities. The Master of Technology Management graduate business degree is also available. Risk Management describes the many techniques individuals and corporations use in managing the risks they face. Professional risk managers use many tools for managing risks including avoiding risks, preventing losses, reducing the severity of losses, retaining losses and purchasing insurance.
Insurance is one of the most important and specialized techniques used by risk managers.
With insurance the risk manager may transfer the financial consequences of a large potential loss to the insurance company in exchange for a small certain premium. Risk Management is also important to insurers. Insurers are involved in a growing number of risk management activities including rehabilitating injured workers, promoting product and industrial safety, and educating and encouraging insurers to prevent or reduce losses. Academic training in these fields will provide you with a strong foundation for the challenges and responsibilities of leadership positions in all facets of the industry. Students must be registered by the first day of class to avoid a late registration fee.