0001. Introduction to Risk Management (3 s.h.) F S.

Prerequisite: Completion of either Economics C051 or C052, and sophomore standing.

Introduction to the study of risk management and insurance. Principal casualty risks to which organizations are exposed, including those involved in employee benefits. Means of identification, evaluation, and treatment of these risks are analyzed, with the methods of treatment including insurance, risk retention, self-insurance, and loss control.

0091. Introduction to Risk Management - Honors (3 s.h.) F.

Prerequisite: Completion of either Economics C051 or C052, and sophomore standing.

This is the honors section of Risk Management and Insurance 0001.

0205. Life and Health Insurance and Employee Benefits (3 s.h.) F S.

(Formerly: RMI 0305.)

Prerequisite: RMI 0001 or RMI 0091.

Analysis of the major areas in other-than-retirement employee benefits. Considerations in benefit plan design, group insurance and the group technique, life, health, and disability income insurance and miscellaneous types of benefits offered. The increasing use of flexible benefit plans, funding issues, tax implications and health care cost containment are also examined.

0209. Property and Liability Insurance Coverages (3 s.h.) F S.

(Formerly: RMI 0309.)

Prerequisite: RMI 0001 or RMI 0091.

This course evaluates property, net income, and liability loss exposures, analysis of insurance contracts, and specific insurance coverages designed to handle the above exposures.

0325. Retirement Plans (3 s.h.) F S.

(Formerly: RMI 0306.)

Prerequisite: RMI 0205, or permission of the Program Director.

Contemporary fundamentals of pension plans. Major subject areas covered include history and development, plan design, actuarial aspects (costs and funding), investment of plan assets, and plan termination insurance. Provides an understanding of the types of individual account retirement plans available. Discussed are profit-sharing plans, thrift and savings plan, cash or deferred arrangements, employee stock ownership and stock bonus plans, individual retirement accounts, simplified employee pensions, tax-deferred annuities, and executive retirement arrangements. Certain functional areas applicable to all types of retirement plans such as taxation, plan installation, disclosure, and fiduciary aspects are also discussed.

0329. Property and Liability Insurance Operations (3 s.h.) F S.

(Formerly: RMI 0310.)

Prerequisite: RMI 0001 or RMI 0091.

Functional insurance areas of rate making, underwriting, marketing, loss control, and claims are studied. Insurance company financial structure and operations analysis are included.

0339. Actuarial Applications in Risk Management and Insurance (3 s.h.) S.

(Formerly: RMI 0350.)

Prerequisite: RMI 0001 or RMI 0091; Statistics 0022 and Finance 0103.

Applies theoretical models to insurance problems and is the real-world counterpart to theories discussed in actuarial science, risk management, and insurance courses. The course is divided into two parts: (1) statistical applications and (2) finance and economic applications. Discusses probability distributions frequently used to model losses and inferences which can be made from claims data (e.g., goodness-of-fit and experience rating). The finance section includes application of portfolio theory to the value of the firm (with and without insurance) to reinsurance decisions and captive insurance situations.

W355. Advanced Topics in Health and Welfare Employee Benefits (3 s.h.) Core: WI.

Prerequisite: RMI 0205.

This writing-intensive course covers advanced topics in health and welfare benefits. Analysis of medical care cost inflation, managed care systems, retiree medical coverage, long term care, Medicare and Medicaid problems and issues, national health insurance proposals, advanced funding arrangements, and flexible benefits plans are among the topics covered.

W359. Global Corporate Risk Management (3 s.h.) S. Core: WI.

Prerequisite: RMI 0209 and RMI 0329.

Applies theoretical models to insurance problems and is the real-world counterpart to theories discussed in actuarial science, risk management, and insurance courses. The course is divided into two parts: (1) statistical applications and (2) finance and economic applications. Discusses probability distributions frequently used to model losses and inferences which can be made from claims data (e.g., goodness-of-fit and experience rating). The finance section includes application of portfolio theory to the value of the firm (with and without insurance) to reinsurance decisions and captive insurance situations.