Risk Management Insurance
Risk Management Insurance
An analysis of the risk management problems in the business enterprise, the course emphasizes methodology for risk analysis, insurance principles and practices, techniques for risk and loss control, insurance underwriting, and rating. It also includes product liability, property damage, and bodily injury in business situations.
Upon successful completion of this course, the student will be able to:
- Compare and contrast the role of insurance differs between gambling and bonding.
- Evaluate different types of risk and distinguish differences that exist between them.
- Evaluate the various methods used to identify risk.
- Analyze insurable risks versus those that are not insurable.
- Formulate why the study of risk management is important and how to manage risk.
- Develop and implement a risk management program.
- Evaluate the major responsibilities of risk managers and how their departments should be organized.
- Compare and contrast risk management and other management functions.
- Develop a plan that a business might be able to use to transfer through some non-insurance device.
- Apply the insurance method to design a risk management program for a business.
- Analyze the fundamentals of insurance contracts.
- Formulate how an insured might lose his/her coverage because of concealment, misrepresentation, or breach of warranty.
- Appraise the extent to which insurance contracts are standardized and the ways in which this standardization is accomplished.
- Compare and contrast the types of property that are exposed to losses.
- Compare and contrast direct property losses and indirect property losses.
- Evaluate the benefits and costs of loss control.
- Compare and contrast risk management and capital budgeting.
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