An introduction to the underlying principles, practices and legal aspects of insurance is provided. Personal lines insurance products are surveyed including auto, homeowners, life and health. This course is a prerequisite for other RMI courses.
The course provides a study of the nature and operation of employer-sponsored benefit plans offered in a complex socioeconomic and political environment. Topics include mandated benefits such as Social Security, workers compensation, and unemployment insurance, as well as a more in-depth examination of group life, health, disability, and qualified and non-qualified retirement plans. Emphasis is on benefit plan design, administration, cost, funding, and regulation as viewed from a benefit manager's financial perspective. (Prerequisites: RMI 301 and FIN 300 - Financial Management)
The nature of risk management and the role of the risk manager are explored. A decision framework for risk management choices is developed. Emphasis is placed on the theoretical and quantitative foundation of risk management while integrating information from other business areas such as economics, finance, and statistics. Special topics explored include international risk management, mergers and acquisitions, and ethics. (Prerequisites: RMI 301, QNT 213 - Quantitative Analysis, and FIN 300)
Full-time paid employment in an area insurance/risk management-related firm. Appropriate job-related learning assignments under faculty supervision. (Prerequisites: FIN 201- Introduction to Financial Markets and Institutions or RMI 301)
Normally part-time, non-paid practical experience in risk management/insurance setting. Appropriate job-related learning assignments under faculty supervision. (Prerequisites: FIN 201 or RMI 301)
The interrelationship among underwriting, investment, regulation and other aspects of insurance company operation are explored. Spreadsheets are used to demonstrate statutory accounting principles applicable to the insurance firm. (Prerequisites: RMI 301 and FIN 300)
For more information contact Kathleen S. McNichol via email: mcnichol@lasalle.edu