GENERAL INSURANCE: 6F:102

AIMS AND OBJECTIVES

The purpose of this course is to provide an introductory, consumer-oriented overview of risk and insurance. The course begins by examining the basic concepts of risk and insurance, insurance fields and functions, regulation, underwriting and the legal framework. It then examines three broad classes of insurance: life and health, property and liability, and auto.

TOPICS COVERED

 introduction to risk and insurance

what is risk, and how to manage it

 institutional aspects of the insurance industry

fields of insurance; industry structure; regulation

 functions of insurers

rate-making, underwriting,;loss adjustment; adjustment process; claim settlement; investment functions

 life and health insurance

the life insurance contract; buying life insurance; disability insurance; health insurance; social security; retirement programs

 property and liability insurance

homeowners insurance; the standard fire policy; negligence and legal liability

 auto insurance

auto and legal liability; the personal auto

FORMAT AND TEACHING METHODS

The course will follow a lecture/discussion format. The course shall make use of a number of projects that require the application of financial information technology. Hence, students are expected to have basic familiarity with financial information technology before taking this course.

PRE-REQUISITES

Special permission from instructor.