Course Overview
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.
Prerequisite(s)
- No prerequisites are required for this course.
Credits
5.0
- Not offered this term
- This course is not offered this term. Notify me to receive email notifications when the course opens for registration next term.
Learning Outcomes
Upon successful completion, the student will be able to:
- Explain the process of risk management, how it deals with the problems of risk.
- Identify the major categories of insurance and who provides each.
- Explain the process of ratemaking.
- Compare different types of insurers.
- Use common risk management and insurance terminology.
- Discuss the concept of insurable interest, indemnity, utmost good faith.
- Identify the elements of an insurance contract in a practical application.
- Analyze case study with respect to principles of risk and factors influencing insurance product cost.
Effective as of Winter 2008
Related Programs
Principles and Practice of Insurance (RMGT 2110) is offered as a part of the following programs:
- Indicates programs accepting international students.
- Indicates programs eligible for students to apply for Post-graduation Work Permit (PGWP).
School of Business + Media
- General Insurance and Risk Management
Diploma Full-time
Programs and courses are subject to change without notice. Find out more about BCIT course cancellations.