Description

Insurance and Risk Management introduces students to the basic concepts of Insurance in general and educates them about various types of Insurance. It also provides information about fundamental principles of insurance, and discusses in detail about various types of Insurance. The student will also learn about insurance as a career option, ways to become an insurance agent and various agency laws that govern the whole system.

Curriculum

Module 1: Introduction To Insurance And Risk Management

Introduction to Insurance, Basic Concepts of Insurance, Fundamental Principles of Insurance, Meaning of Risk, Types of Pure Risk, Principle of Risk Pooling, Methods of Handling Risk, Meaning and Objective of Risk Management.

Module 2: Insurance Contract And Legal Liability The Insurance Contract

Important Terms in Insurance Contract, Analysis and Selection of Insurance Products, Legal Liability: International Torts, Absolute Liability, Law of Negligence, Special Tort Liability Problems.

Module 3: Life Insurance

Meaning of Life Insurance; Analysis of Life Insurance Needs; Types of Life Insurance Policies; Term Insurance, Whole Life Policy, Endowment Policy, Investment Linked Insurance; Calculation of Claim Amount and other Benefits.

Module 4: General Insurance

Health Insurance and Accident Insurance: Individual Health Insurance, Group Health Insurance Policies, Personal and Group Accident Insurance; Personal Disability Insurance; Property and Liability Insurance; Other Business Specific Insurance; Keyman Insurance, Professional Indemnity Insurance, Worker’s Compensation Insurance

Module 5: Regulatory Framework Of Insurance

IRDA Act, 1999; The Insurance Act, 1938; Public Liability Insurance Act, 1991; Employee State Insurance Act, 1948; Agency Law and Functions of an Agent; Doctrines of Waiver and Estoppels.

Learning Outcomes

• Discuss the importance and nature of insurance
• Identify the characteristics of risk
• Apply the process of risk management
• Describe selection of an insurance product
• Explain the concept of co-insurance

Who Should Attend?

• Management Students
• Graduates with Management background

Job Prospects

• Risk Analyst
• SOX Analyst
• Risk Engineer
• Wealth Relation Manager

Certification

After completing this course and successfully passing the certification examination, the student will be awarded the “Insurance and Risk Management” certification.

If a learner chooses not to take up the examination, they will still get a 'Participation Certificate'.