INS 4500: Principles of Risk Management and Insurance

3 Credit Hours

Prerequisite: ECON 2106 and (MATH 1160 or MATH 1190 or MATH 1179) and 60 credit hours with a minimum GPA of 2.00, and (Admission to the Coles College Undergraduate Professional Program or student in a Coles College Partner Program that includes this course).
This course is an introduction to the identification of risks and their management. Topics will include fundamental life, health, retirement, property and liability exposures and their management through avoidance, control, retention or transfer. The characteristics of life, health, property and liability insuring devices are also covered.

Course Learning Outcomes
Students who successfully complete this course will be able to:

Learn basic elements of discrete random variables in modeling uncertainty.
Learn features of insurance contracts used to mitigate risk.
Distinguish between more or less risk aversion and more or less risky lotteries.
Identify situations prone to adverse selection and moral hazard.