- Fees: $300
- CPD: 3 Hours
- Subject: Management
- Language: English
- Difficulty: Intermediate
- Platform: Zoom / E-Learning
Course description
This course is designed to provide a comprehensive understanding of risk management and insurance and to equip students with the knowledge to make informed decisions related to their own personal risk management and insurance needs.
What you'll learn
- Explain the historical definition of risk
- Explain the meaning of loss exposure
- Understand the following types of risk
- Identify the major pure risks that are associated with great economic insecurity
- Show how risk is a burden to society.
- Explain the major techniques for managing risk
- Define risk management
- Explain the objectives of risk management
- List and describe the steps in the risk management process and understand the major methods of treating loss exposures.
- Discuss the major benefits of a risk management program
- Define insurance based on the definition drafted by the Commission on Insurance Terminology
- Explain the law of large numbers.
- Describe the characteristics of an ideally insurable risk from the viewpoint of a private insurer.
- Explain whether fire and unemployment meet the requirements of an insurable risk.
- Understand how adverse selection can lead to higher-than-expected losses and unprofitable business for insurers.
- Explain whether fire and unemployment meet the requirements of an insurable risk.
