B.S. IN BUSINESS WITH A CONCENTRATION IN RISK MANAGEMENT & INSURANCE
The goal of the risk management and insurance concentration is to provide students with the skills in financial management, risk management and financial planning. Graduates will be able to analyze and communicate findings on complex risk management and financial issues.
Major core requirements:
Principles of optimal financial policy in the procurement and management of wealth by profit-seeking enterprises; the application of theory to financial decisions involving cash flow, capital structure and capital budgeting.
Addresses the concepts and practices of system safety; included are basic system concepts, application of system safety techniques, qualitative and quantitative applications such as fault-free, failure-mode-and-effects, MORT and cost-benefit analyses.
Risk and Insurance
Nature of risk; insurance and other risk handling methods; examination of basic life, health, property, and liability principles and coverages, understanding of distribution methods and the regulation of insurance and the industry.
Property and Liability Insurance
Property and liability risk identification and measurement. Provides the students with an understanding of major commercial line coverages including fire, marine, automobile, general liability, workers compensation, fidelity, and surety bonds.
Life and Health Insurance
The function, nature, and the uses of life and health insurance and annuities including coverages of estate planning, operational aspects of life insurance companies. The course covers insurance solutions for life cycle risks: death; health and longevity — sustainability; legal and tax aspects.
Employee Benefit Planning
Management of group life, health, disability, and retirement plans. Obtain an understanding governmental and employers’ solutions to life cycle risks — sustainability through social insurance programs, group insurance and innovations. The course reflects the dynamic nature of this field and requires cost/benefits analysis, best solutions to risks and a complete portfolio project of plan design, cost considerations, funding, regulation and tax considerations.
Advanced Property/Casualty Insurance: Alternative Markets
Property and liability risk with emphasis on alternative, less-regulated insurance solutions to all types of risks. The course includes sustainability issues and the way to mitigate natural and man-made catastrophes including sophisticated modeling and techniques. The course covers Lloyds of London; excess and surplus lines carriers; risk retention group, self-insurance, captives and shadow insurance; reinsurance; multi-layers of coverage; catastrophe bonds; terrorism; regulation; liability issues globally; social responsibility.
Managing Financial Risk
Learning sources of financial risk. Measurement and uses of enterprise-wide financial risk techniques. A variety of analytical tools will be used to learn about value at risk, credit risk, stress testing, financial risk management and actuarial models, and how to manage financial risk.
Approved risk management and insurance/corporate electives:
Principles of Consulting and International Consulting Practicum (must get credit for both courses to count toward degree completion)
Money and Banking
Business Cycles and Forecasting
Principles of Real Estate
E-business Risk Management
Issues in Risk Management and Insurance
Occupational Safety, Health and Security
Options, Futures and Swaps
Topics in Finance, Insurance and Real Estate
Internship in Finance, Insurance and Real Estate (requires departmental approval)
Human Resource Management
Introduction to Personal Selling