This class exists in these courses :
• IÉSEG > IESEG Degree - Programme Grande École > Semester 1 > 2,00 ECTS

Prerequisites

it is advisable that students are acquainted with basic financial mathematic and statistics

Learning outcomes

- Understand various concepts of risk
- Identify, analyse and evaluate various kinds of risks faced by business firms and individuals.
- Apply the risk management process to select among the alternative techniques for managing these risks.
- Analyse insurance contracts in order to be able to select the right personal or business contracts according to the needs
- Explain and calculate “fair” insurance premiums
- Explain the role of insurer capital and the factors affecting insurer capital decisions
- Understand how moral hazard, adverse selection impact the risk management process
- Understand and calulate insurance reserves
- Know the regulatory requirement for insurance companies : Solvency 2

Course description

Risk Management in Insurance
- The importance of insurance
- Risk management
- Insurance premium calculation
Insurance business management
- The different types of insurance
- Reinsurance
- Reserving
- Accounting principles
Insurance financial analysis
- Insurance profitability
- Capital Management
- Insurance regulation : Solvency II

Class type

Class structure

Teaching methods

Assessment

Assessment will be based on the course participation and on a final written exam mixing MCQ, exercises and theoretical questions.

Recommended reading

• Introduction to Risk Management and Insurance by Mark S. Dorfman, 10th edition, Pearson -

Internet resources

• IESEG Online