Insurance And Risk Management

Syllabus

MBA - FM-405 INSURANCE AND RISK MANAGEMENT

Course Contents:

Insurance-Concept, Nature, Classification-Life & Non-life, Functions, Importance and Principles of Insurance; IRDA Act 1999 - Organization, guidelines for life & Non-life insurance. Life Insurance -Concept; Public & Pvt. Sector companies in India - their products, schemes & plans; LIC Act 1956-An overview. General Insurance - Concept, Types; Public & Pvt. Sector companies in India - their products, schemes & plans. Distribution channel in Insurance-Introduction, Individual Agents-Appointment, functions, code of conduct and remuneration; Claims settlement in Life Insurance and General Insurance. Risk and its Management, Objectives of Risk Management, Risk Identification and Measurement, Risk Pooling Arrangements and Diversifications, Process of Risk Management.

Risk Aversion and Risk Management of Individuals and Corporations, Risk Management and Shareholder’s Wealth.

Analytical tools used in Corporate Risk Management: DOW Index, Fault Tree, Event Tree, Hedging with Derivative Contracts, Risk Pricing.

Process of Risk Control, Loss Prevention, Techniques of Risk Retention and Reduction.

Case Studies in Enterprise Risk Management.