Upon course completion, students will be able to:
1. Identify in writing definitions, principles, and concepts discussed in the selected textbook.
2. Describe the basic concepts of Risk Management and Insurance.
3. Describe the need for and the methods of risk control and risk financing.
4. Describe the personal Risk Management applications: a. Loss of Life b. Loss of Health c. Retirement Planning and Annuities d. Employee Benefits: Life and Health Benefits e. Employee Benefits: Retirement Plans f. Financial and Estate Planning g. Auto and Home Owners5. Describe commercial Risk Management Applications:a. Commercial Property b. Business Liability and Risk Management Insurance c. Workers Compensation d. Alternative Risk Financing
6. Describe the Risk Management Environment: a. Risk Management and the Insurance Industry b. Functions and Organization of Insurers & Reinsurance c. Government Regulation of Risk Management and Insurance
7. Investigate and explain in writing how Lloyd’s of London operates.
8. Investigate and explain in writing how the Bermuda Insurance Market functions.
9. Investigate and explain in writing how the Reinsurance Market operates.
10. Demonstrate appropriate selection and application of a research method and statistical analysis (where required), specific to the course subject matter. (Effective July 1, 2013)