Risk Management and Insurance

Part 1 Overview of risk management: risk and its management; objectives of risk management. Part 2 Risk reduction through insurance markets: risk measurement and diversification through risk pooling; risk pooling and insurance institutions; insurance pricing; demand for risk reduction by individuals and business; contractual provisions; legal doctrines and insurability of risk. Part 3 Essentials of business risk management: why large firms hedge risk - a financial exposition; loss financing; tax, accounting, and regulatory factors affecting loss financing; loss control and risk management decision making; reducing business risk - hedging and diversification; hedging applications. Part 4 Legal liability, worker injuries, and employee benefits: the legal liability system; liability to consumers, shareholders, and third parties; responsibility/liability for harm to employees; issues in liability risk management; personal insurance provided by employers; pensions and related retirement plans; OASDHI. Part 5 Personal insurance coverage and issues: automobile insurance; home owners insurance and protection against large liability losses; life insurance, annuities, and individual health insurance. Part 6 Insurance markets, regulation, and the government insurance: insurance market structure, performance and organizational forms; insurance company operations and finance; government regulation and provisions of insurance.