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Insurance & Risk Management Course Descriptions

INSU 3315 – LIFE & HEALTH INSURANCE – This is a required course in the insurance and risk management major. The course covers the nature and importance of life and health risks and the functions or uses of insurance contracts in treating these risks. Included are business insurance, annuities, and estate planning. Primary modes of instruction are lectures and discussions. Full-time students completing the course with a final grade of “C” or better and passing the cumulative final exam with a grade of “C” or better are eligible to earn credit for the Life & Health Insurance part of the Certified Insurance Counselor professional designation program.

INSU 3320 – PROPERTY & LIABILITY INSURANCE – This is a required course in the insurance and risk management major.  In this course students will analyze basic commercial property and liability insurance contracts, including commercial property, business income, commercial general liability, crime, inland marine, commercial auto and workers’ compensation policies. Primary modes of instruction include lecture and discussion supplemented with quizzes and case studies. Full-time students earning a final grade of “C” or better in this course are eligible to earn credit for the Commercial Casualty Insurance Coverages part of the Certified Insurance Counselor professional designation program.

INSU 3324 – RISK & INSURANCE – This is a required course in the insurance and risk management major and an elective course in the Finance major. The mode of instruction is lecture supplemented with quizzes and case studies. This course serves as an introduction to understanding insurance and includes instruction in insurance company operations; insurance regulation; personal property and liability insurance coverages; personal life, health, and disability insurance coverages; and retirement planning. Full-time students passing this course with a final grade of “B” or better are eligible for a waiver from the American Institute For Chartered Property Casualty Underwriters/The Institutes for CPCU 552.

INSU3330 SURPLUS LINES AND REINSURANCE – This is an elective course for insurance and risk management majors. It provides an overview of the nature and operation of the surplus lines insurance market as well as an introduction to the reinsurance sector of the insurance industry. It examines risk financing techniques, marketing, underwriting, and reinsurance.

INSU3382 INTERNSHIP IN INSURANCE AND RISK MANAGEMENT – This is an elective course open to insurance and risk management majors. Internships are available to provide students academic credit for experiential learning. Three credit hours will be given for this course upon completion of a minimum of 120 contact hours at an approved CBA student internship.

INSU4310 INTERNSHIP IN INSURANCE AND RISK MANAGEMENT – This is an elective course for insurance and risk management majors. Primarily summer internships are available to provide hands-on work experience in an insurance or risk management firm. In addition to gaining valuable insight into career paths, students are required to analyze and report on the firm’s operations, strategic plans, and growth prospects.

INSU 4315 EMPLOYEE BENEFITS – This is a required course in the insurance and risk management major. The course focuses on the study, design, and administration of group health, disability, life insurance, and retirement plans. Also includes a study of social security and other related programs for mitigating economic losses due to personal and business risk problems. The course also discusses profit sharing, 401(k) plans, and flexible benefit plans. Primary modes of instruction are lectures, discussions, and case studies. Primary modes of instruction are lectures, discussions, and case studies.

INSU4320 CORPORATE RISK MANAGEMENT – This is a required course in the insurance and risk management major. Primarily an applications course that seeks to identify, analyze, and deal with business loss exposures including acts of nature, liability claims, and price risk. Included are selection and application of risk control and risk-financing techniques such as risk retention, reduction, and transfer including insurance non-insurance transfer methods. The mode of instruction is lecture supplemented with quizzes and case studies. Full-time students passing this course with a final grade of “B” or better are eligible for a waiver from the American Institute For Chartered Property Casualty Underwriters/The Institutes for CPCU 550.

INSU4330 INSURANCE OPERATIONS & REGULATION – This is an elective course for insurance and risk management majors.  This course is designed as an overview of insurance company operations and regulation of the insurance industry.  Emphasis will be upon regulation, distribution systems, property and liability insurance underwriting, loss control, premium auditing, reinsurance, ratemaking principles and process, insurer financial management, and property and liability claims adjusting.

INSU4325 INSURANCE CLAIMS – This is an elective course in the insurance and risk management major. This course is designed to provide an understanding of risk and insurance as it relates to claim professionals, the claim handling process, claim investigation techniques, insurance fraud, good-faith claim handling, ethics, negotiation, and managing litigation. The course examines Persons/Property Insured, Causes of Loss, Loss Adjusting Process and Procedures, Fraud, Residential Construction, Preparing Estimates, Merchandise/Time Element Loss, Auto Physical Damage, and Contractor´s Equipment.  Graduates taking this course will be eligible to sit for Arkansas Adjuster License Exam without the one-year experience requirement.