The Emmett J. Vaughan Institute of Risk Management and Insurance

RMI Certificate Courses

6F:102/FIN:3400 Principles of Risk Management and Insurance

This introductory course covers risk identification and evaluation, the need for insurance, the effects of limited liability, theory of moral hazard, and adverse selection. Both business and personal risk are addressed with emphasis on insurance as a risk management tool.

6F:103/FIN:4420 Property & Liability Insurance

This course addresses the fundamentals of commercial property and liability insurance, including commercial property and liability contracts, functions of property and liability insurers, and the regulation and financial analysis of property and liability insurers. Other topics include marketing, underwriting, rate-making and claim settlements. Prerequisite: 6F:102/FIN:3400.

6F:104/FIN:4410 Corporate and Financial Risk Management

This course studies the analysis and treatment of the pure and financial risks faced by business organizations. It includes the development and implementation of the risk management process, and it explores the application of various risk management techniques to identified exposures. Case studies are utilized to study how businesses manage risk and how insurance is used to manage the cost of risk. Prerequisite: 6F:102/FIN:3400.

6F:105/FIN:4430 Life and Health Insurance

A study of the various types of life insurance and annuity contracts and their uses; regulation of life and health insurers; development of financial plans utilizing life insurance products; Social Security, group and individual health insurance products including major medical, disability income, and long-term care policies, and an analysis of the marketplace. Other topics include a review of contractual provisions, determination of human life values, and an introduction to the mathematics of life contingencies and pricing. Prerequisite: 6F:102/FIN:3400.

6F:106/FIN:4440 Employee Benefit Plans

A managerial approach to employee benefit plans such as group life and health insurance and retirement programs. Course topics include the design, administration and financing of employee benefits, federal administration and regulation of employee benefit plans, funding requirements and financing alternatives, funding and vesting of retirement annuities, the design and management of health care plans, including the cafeteria approach and nonqualified deferred compensation arrangements. This course also explores the economic effects and financing of employee benefit and retirement plans in both the private and public sectors. Prerequisite: 6F:102/FIN:3400.

6F:107/FIN:4450 Risk Modeling

Theory is used to solve real-life practical problems taken from a diverse set of risk management applications. The applications are drawn from a variety of areas where risk analysis has become important including finance, insurance, corporate risk management and personal financial planning. This spreadsheet-based course surveys the principles of probability theory, mathematical finance, and actuarial science as they have developed for use in the quantitative analysis of important risk management problems.