British Columbia Institute of

Important Notice: COVID-19 Institute response


RMGT 2110 - Principles and Practice of Insurance

General Insurance & Risk Management Part-time Studies Course

School of Business + Media

To support you and your education, BCIT is adapting applied learning in formats appropriate to the unfolding global situation. All PTS classes are being delivered in an online format unless you are notified otherwise.

Course Details

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.



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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

RMGT 2110 is offered as a part of the following programs:

School of Business + Media

  1. General Insurance and Risk Management
    Full-time   Diploma


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