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[1] Courses in Insurance & Risk Management (INSU)
1300 INTRODUCTION TO INSURANCE UCA Core lower-division elective in the Responsible Living area and an elective for insurance and risk management minors. Students will be introduced to the fundamental principles of insurance and personal risk management. This will include the subjects of personal auto, homeowners, life, and health insurance as well as an introduction to retirement planning. Students will, using practical applications, develop the ability to navigate uncertainty and make informed choices.
3315 LIFE AND HEALTH INSURANCE This is a required course in the insurance and risk management major and minor. 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.
3320 COMMERCIAL INSURANCE This course offers a comprehensive overview of commercial insurance and the loss exposures commonly faced by most organizations. Through interactive exercises based on realistic scenarios, it will develop your ability to assess commercial risks, recommend effective commercial insurance coverage and risk treatment techniques, and analyze whether a given loss is covered and the amount payable under the insurance policy.
3324 RISK AND INSURANCE This is a required course in the insurance and risk management major and minor and an elective course in the Finance major and financial services minor. 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.
3330 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. The method of instruction is lecture and discussion.
3335 MANAGING RISK: FROM DATA TO DECISIONS This is an elective course for the insurance & risk management major and minor, an elective for the actuarial studies minor, and a quantitative-tools elective for finance majors. This course introduces big data and its application to underwriting, claims, and risk management, along with an overview of the techniques used for measuring and modeling risk. Topics will include a review and discussion of data and its application strategies, decision making using data, product analysis, loss reserving, rate making, and risk control. Students will use these tools to analyze business performance.
3382 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 College of Business student internship. Prerequisite: Junior status.
4310 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. Three credit hours will be given for this course upon completion of a minimum of 120 contact hours at an approved College of Business student internship. Prerequisite: Senior status.
4315 EMPLOYEE BENEFITS (cross-listed as MGMT 4315) This is a required course in the insurance and risk management major and an elective in the minor. 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.
4320 ENTEPRISE RISK MANAGEMENT This course is predominantly focused on applications and aims to identify, analyze, and deal with risks commonly faced by most organizations in the framework of Enterprise Risk Management. These losses could stem from natural events, liability issues, security markets, fluctuations in prices. The course’s main objective is to equip students with a grasp of fundamental risk management and insurance principles, enabling them to tackle practical scenarios in the broader realm of enterprise risk management. Students will learn to implement a methodical approach to enterprise risk management, allowing them to effectively handle various risks. This course establishes a strong base upon which students can construct the essential expertise required for a successful career in the field of risk management. [UD UCA Core: C]
4325 PROPERTY INSURANCE CLAIMS HANDLING PRINCIPLES & PRACTICES 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, Adjusting Process and Procedures, Fraud, Residential Construction, Preparing Estimates, Merchandise/Time Element Loss, Auto Physical Damage, and Contractor’s Equipment. Prerequisites: INSU 3320 and 3324.
4330 INSURANCE OPERATIONS AND REGULATION This is a required course for the insurance and risk management major (except for the Personal Financial Planning Track) and an elective for the minor. 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.
4390 INDEPENDENT STUDY IN INSURANCE OR RISK MANAGEMENT An elective in the insurance and risk management major in which students conduct a guided study of an insurance or risk management related topic approved by the supervising faculty. Prerequisite: Consent of department chair.
4395 SPECIAL TOPICS IN INSURANCE This is an elective course for the insurance and risk management major and minor. A course in insurance and risk management on a special topic or issue. The topic will vary from semester to semester. Prerequisite: consent of department chair.