Principles and Practice of Insurance RMGT 2110

This course provides a foundation of knowledge of risk management and the insurance industry. No prior experience or knowledge of insurance is required as this course covers the general principles that underlie the operation of insurance. Students are introduced to the concept of risk and shown how insurance deals with it. Students will study the basic concepts and language of insurance; the legal context of insurance; and the participants in the industry and their relationships to each other. Although specific types of insurance are not covered, the principles students learn underlie the situations encountered in the industry and every policy and course students will study throughout the program.