Missouri State University provides the only risk management and insurance major in the state of Missouri and one of the only 52 such programs in the country. Graduates of the program have wonderful opportunities in a wide variety of careers in the risk management and insurance industry. Currently there are over 2.3 million people working the industry. Historically, insurance industry employment has been very stable. In fact, the industry has seen times of growth when the economy as a whole was contracting. Our graduates are working in cities as large as Chicago in communities as small as a few thousand people.
The only one of its kind in the state of Missouri and established in 1993, this program is designed to provide a specialization to those interested in the insurance industry or the risk management field. The student also obtains a broad-based finance education in the process. If desired, the student may further specialize in the property and liability or life and health fields.
There are a number of insurance internship opportunities available to our students. Upon graduation, entry level positions include actuary, adjuster, agent/broker, claims examiner, employee benefit specialist, risk management associate, and underwriter. While great opportunities exist in sales, more than one-half of all jobs are in non-sales positions.
Risk Management & Insurance Course Description
INS 211 Insurance
Prerequisite: 24 hours. Principles and functions of property, casualty and life insurance with applications in both personal and business situations. 3(3-0) F,S
INS 312 Life Insurance
Prerequisite: INS 211; undergraduate business majors must be admitted to degree program. Nature and types of life insurance and annuity contracts insuring human life values for business and personal purposes; principles underlying the calculation of life insurance and annuity premiums, reserves, nonforfeiture values and dividends; introduction of group life insurance, pensions, health, social insurance, settlement options, taxation as related to life insurance programming. 3(3-0) S
INS 313 Property and Liability Insurance
Prerequisite: INS 211; undergraduate business majors must be admitted to degree program. Analysis and application of risk and insurance principles to direct and consequential losses in fire, marine, inland marine, multiple-line coverages, liability, workers’ compensation, fidelity, surety, and crime perils. 3(3-0) F
INS 314 Employee Benefits and Social Insurance
Prerequisite: 30 hours; undergraduate business majors must be admitted to degree program. The study of group life and health insurance, retirement programs, Social Security, and other social insurance programs as devices to mitigate economic losses from death, disability, medical costs, retirement, and unemployment in relation to personal and business risk problems. 3(3-0) S
INS 397 Topics in Insurance
Prerequisite: undergraduate business majors must be admitted to degree program. Students taking course as independent study, readings, or professional designation courses must obtain department head approval prior to enrollment. A variable content course to intensify and supplement the study of insurance, designed for students desiring to develop toward professional competence in property/casualty, risk management, life/health, employee benefits, financial services, and insurance-related areas. Course design may include independent study, readings, professional designation courses, and/or traditional classroom work. May be repeated for a maximum of 6 hours. 1-3 D
INS 415 Risk Management
Prerequisite: 80 hours including INS 211; undergraduate business majors must be admitted to degree program. Identifying and analyzing the loss exposures. Developing alternative techniques for treating each exposure with emphasis on risk control and risk financing. 3(3-0) S
INS 538 Introduction to Estate Planning
Prerequisite: 80 hours; and undergraduate business majors must be admitted to degree program. Estate planning process; fundamentals of intestate distribution, wills, trusts, gifts, life insurance; taxes incidental to an estate; administration of estates and trusts; analysis and selection of devices for lifetime and testamentary transfers of property. Identical with FIN 538. May be taught concurrently with INS 638. Cannot receive credit for more than one of FIN 538, FIN 638, INS 538, or INS 638. 3(3-0) F