ACS 2740 - Risk Management and Insurance

3 lecture hours 0 lab hours 3 credits

Course Description
The objective of this course is to provide students with an intermediate study of risk reduction and insurance mechanisms, along with conceptual tools for risk management. Emphasis is placed on identifying risks and diversifying risks through appropriate insurance, as a mean of replacing uncertainty with certainty.
Prereq: ACS 1130, BUS 2530 (quarter system prereq: AC 1103, BA 2503)
Note: None
This course meets the following Raider Core CLO Requirement: Integrate Learning

Course Learning Outcomes
Upon successful completion of this course, the student will be able to:

Distinguish different types of risk
Determine appropriate methods in risk management
Comprehend characteristics of insurance and insurable risks
Explain insurance terminology and components of insurance contracts
Identify basic operations of a typical insurance process
Interpret the role of insurance in the overall financial planning process
Explain the fundamental legal principles in risk and insurance
Analyze situations and recommend risk mitigation plans
Communicate effectively in written and verbal forms

Prerequisites by Topic

Precalculus material
Basic concepts of accounting and finance

Course Topics

Risk and risk management
Operations of insurance company, insurer, and regulator
Major types of insurance and analysis of insurance contracts
Fundamental legal principles in risk and insurance

Coordinator
Dr. Yu-Sin Chang

Announcement

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Milwaukee School of Engineering

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ACS 2740 - Risk Management and Insurance