MSY 027- RISK MANAGEMENT AND INSURANCE Trimester V (2011-13 Batch) Instructor Kaleel Nisha and Nirmala Raghavan

Introduction Risk is a part of every human endeavor. While some of these risks may seem trivial, others make a significant difference in the way we live our lives. Similarly, the business world has its own sets of risks. How a firm deals with these risks impacts directly on all the people dealing with this firm, its clients, employees, creditors, owners suppliers. Because of this multiplier effect, it is utmost importance that firms and governments have proper risk management strategies. Insurance is one such device of risk management which helps to meet uncertain losses which are carried out through the transfer of risks of many individuals to one person or to a group of persons. Objectives More specifically the course focuses on Types of risks Benefits of risk management Risk analysis techniques Types of insurance Insurance accounting Pedagogy This course will have lecture sessions, presentations and assignments. Cases relating to risk management and insurance will be given as individual assignment. Grading scheme Final grade in the course would consist of following components Individual assignment Group presentation Assessment tests End trimester Exam Total 10% 10% 30% 50% 100%

COURSE OUTLINE Sess. No. Unit Topics RISK MANAGEMENT 1 2-3 4-5 6-7 8-9 10-11 12-13 14-15 I I II II II III III III Introduction to risk management Risk, causes of risk, benefits of risk management, risk management process Classification of risk Managing corporate risk Enterprise risk management Risk identification, analysis and assessment Risk control and treatment Risk response, risk transfer and retention INSURANCE 16,17 18,19 20,21,22 23,24 25,26,27 &28 29, 30 IV IV IV IV V Meaning Principles of insurance Chapter 1-R2 Functions of insurance , Procedures for taking Chapter 1-R2 life, fire and marine policies Types of fire and marine policies Concept of double insurance and re-insurance Insurance Accounting Group presentation/Scheduled test Chapter 3&4-R2 Chapter 1-R2 Chapter 8- R3 Chapter 10- R2 Chapter 1-R1, Chapter 10-R2 Chapter 2 -R1, Chapter 10-R2 Chapter 3-R1, Chapter 10-R2 Chapter 10-R2 Chapter 2-R1, Chapter 10-R2 Chapter 10-R2 Chapter 10-R2 Reading Material

References 1. Kit Sasdgrove, The Complete Guide to Business Risk Management, Jaico Publishing House, 2001. 2. Murthy. A, Principles and Practice of Insurance, Margham Publications, 2008. 3. T.S. Reddy and Murthy. A, Financial Accounting, Margham Publications, 2008. 4. Alka Mittal, Gupta S.L. Principles of Insurance and Risk Management, Sultan Chand and Sons, 2010. 5. James T.Gleason, Risk: The New Management Imperative in Finance, Jaico Publishing House, 2004