Masters in Business Administration (MBA)

Batch : Winter 2012 MBA Trimester V

Course : Risk, Risk Management and nsurance
Credits : 2
C!ass "chedu!e : Wednesda# ($:00 am %10:00 am)
nstructor : "u&in "hrestha, su&insh'hotmai!(com
Course Objectives
This basic course aims to provide knowledge of the principles of risk and
risk management and insurance and their practical application to the
main branched of Insurance
Course Content
1( Risk in our "ociet# 2
hours
Meaning of Risk, Chances of loss, Peril and Hazard, Basic Categories of
Risk, Tyes of Risk, Burden of risk on society and !ethod of handling
risk
2( nsurance and Risk Management )
hours
"e#nition of $nsurance, Basic characteristics of $nsurance, Risk
Manage!ent, Risk Manage!ent function, risk !anage!ent rocess%
identi#cation and !easure of e&osure, loss control and risk #nancing
and regular revie' of the risk !anage!ent rogra!, bene#t of risk
!anage!ent and ersonal risk !anage!ent, tye of $nsurance(life
and )on*+ife, in )ealese Conte&t, Bene#t and cost of insurance to
society
*( +undamenta! ,ega! -rinci.!es
/ hours
Princile of inde!nity, Princile of insurance interest, Princile of
-ubrogation, Princile of ut!ost good faith, distinct legal characteristic
of insurance contract, Re.uire!ent of an insurance contract
/( nsurance Regu!ation 2
hours
$ntroduction to insurance regulation, history of insurance regulation,
the reason for insurance regulation, !ajor regulated activities by the
insurance board of )eal
0( nsurance Contract 2
hours
Basic art of $nsurance contract, insured endorse!ent and riders,
deductibles, co*insurance, !ass !erchandising, other insurance
rovision
)( T#.es o1 nsurance and marketing "#stem
* hours
Private $nsurer, tyes of rivate insurers, agents and brokers, Tyes of
!arketing syste!s, !ass !erchandising, Co!!issions, Cororate
"iscounts, /ire 0&tinguisher "iscounts, )o Clai! "iscounts, Concet of
0&cess on da!age
$( nsurance Com.an# 2.eration
0 hours
Rate Making, Tari1 Rate, 2nder'riting, Production, clai! settle!ent,
-urveyors, Re*insurance, $nsurance Pool of )eal, alternative to
traditional re*insurance, $nvest!ent, other insurance co!any function
(directives rovided by the Bee!a -a!iti3 $nsurance board of )eal,
Te3t Books:
Rejda, 4eorrge 0% Princile of Risk Manage!ent and $nsurance,
Pearson 0ducation, )e' "elhi
Re1erence Book:
"orf!an, Mark -% $ntroduction to Risk Manage!ent and $nsurance,
Printice*Hall of $ndia, )e' "elhi
Course 4escri.tion:
This course ai!s at e.uiing the students 'ith the kno'ledge and
develo!ent taking lace in $nsurance5 Thinking in this ne' aradig! in
the $nsurance 'ill be encouraged5
This course 'ill cover Risk in our society, $nsurance and Risk
Manage!ent, /unda!ental +egal Princiles, $nsurance regulation,
$nsurance Contacts, Tye of $nsurer and Marketing -yste!, $nsurance
co!any oerations 'hich are the !ost i!ortant ter!s those are to be
kno' 'hile studying $nsurance5
This course takes a ractical and !anagerial aroach to $nsurance5 $t 'ill
rovide rich deth of ractical e&a!les and alications5 $t 'ill d'ell on
bringing out the $nsurance +iterate future e!loyees in the $nsurance
$ndustry5
Teaching +earning Methodology%
+ecture, classroo! "iscussion, $ndustry visit 3 guest +ecture, $ndividual3
4rou Presentation and Project 'ork5
Course -chedule%
Toic for "iscussion 6ssign!ents
Risk in our society
$nsurance and Risk
Risk Manage!ent
/unda!ental +egal Princiles /irst $ndividual
6ssign!ent
$nsurance Regulation
$nsurance Contracts Module Test
Tyes of $nsurer and Marketing -yste!
$nsurance Co!any Oeration
4uest +ecturer
4rou Presentation
7 $f ossible students 'ill be taken for the $nsurance $ndustry 0&osure5
0valuation Criteria%
$nternal 0valuation Criteria 8eight (9,
:5 /irst $ndividual 6ssign!ent :;9
<5 Module Test :;9
=5 Mid Ter! 0&a!ination <;9
>5 0nd Ter! 0&a!ination >;9
?5 4rou 8ork ( Reort and Presentation, <;9
/irst $ndividual 6ssign!ent%
$ssue "ate% =;
th
@anuary <;:=
-ub!ission "ate% A
th
/ebruary <;:=
Ho' did you #nd the current $nsurance !arketing syste! in )ealB $s it
healthy co!etition going onB 8hat are the areas 'here you see to
e&lore +ife and )on*+ife $nsurance !arketB )o' a days is of
!arketing, 8hat 'ould be your suggestion to the current insurance
C0O for the develo!ent of $nsurance !arketB
The assign!ent is to be sub!itted only in a Hard Coy, co!uter rint5
/ont% Ti!es )e' Ro!an, /ont -ize% :<5 -acing% :5?, Pages% ? Mini!u!
4rou Project ( Reort and Presentation,
-ub!ission "ate% :C 6ril <;:=
-tudents should have = !e!bers in each grou5 -tudents need to visit
in the $nsurance Co!any (+ife or )on*+ife,5 -tudents are to sub!it the
Project on ho' the )ealese $nsurance co!any 'orks5 The 'hole
$nsurance rocess fro! the starts to end5
Hint%
Ho' the business are being brought, tye of insurance roducts, ho'
the rates are being .uoted, re*insurance, Clai!s, -urveyors and their
category etc5
The assign!ent is to be sub!itted only in a Hard Coy, co!uter rint5
/ont% Ti!es )e' Ro!an, /ont -ize% :<5 -acing% :5?, Pages% :<
Mini!u! and sub!it binding5
6ssign!ents and Project -tudy need to be sub!itted on ti!e to the
rogra! coordinator and the enalty 'ill be used for the late sub!ission
as follo's5
On Ti!e )o Penalty
8ithin three days of the deadline <?9 !arks 'ill be
deducted
8ithin four to seven days ?;9 !arks 'ill be
deducted
6fter -even days )o !arks 'ill be a'arded
)ote%
-uggestion is strongly !ade to start the roject 'ork in ti!e and to do it
arallel to the classes being conducted and avoid last !inute rush5