COURSE OUTLINE
Introduction to Insurance
1. General
School
Academic Unit
Level of Studies
Course code
Semester
Course Title
Idependent Teaching Activities
Weekly Teaching Hours
Credits
Course Type
Prerequite Courses
Language of Instruction and Examinations
Is the course offered to Erasmus Students?
Url (Eclass)
2. Learning Outcomes
Learning Outcomes
In modern societies, individuals and households face an ever increasing set of risks that may threaten their economic wellbeing. The theory of human capital may be used to determine the economic status of each person. Then, the purpose of insurance is to protect this level of economic wellbeing from any insurable risk, by using the appropriate insurance contract.
As far as the business firms are concerned, risk management consists of managing the full spectrum of risks, in order to maximize the value of the firm. Special attention is given to the problems of moral hazard and antiselection.
At he end of this course, students should be able:
- To recognize the total spectrum of risks, both pure and financial risks.
- To use statistical tools in order to measure risks.
- To identify and measure risks tha t may affect persons and households, as well as the risks of corporations
- To analyze the basic insurance contracts.
- To determine the relationship of private an social insurance.
General Competences
3. Syllabus
This introductory course offers a holistic approach to the risk management process of both individuals and business firms, for insurable risks as well as financial, operational and strategic risks.
In the first part, the general risk management theory and practice are developed and the major methods of managing risks are presented.
In the second part, the focus is on the insurance mechanisms, that represent the most developed tools of managing risks for individuals and firms. The major types of insurance contracts are presented, as well as their particular characteristics.
4. Teaching and Learning Methods - Evaluation
Delivery
Use of Information and Communications Technology
Use of ICT
Teaching Methods
Activity
Semester Workload
Student Performance Evaluation
- Class participation: 15%
- Term paper : 20%
- Final exam: 65%
5. Attached Bibliography
Suggested Bibliography
M.Nektarios, Insurance and Risk Management, (Athens, Papazisis, 2014)