Course Description
This course covers the basic concepts in risk management and insurance, legal principles in risk and insurance, personal property and liability risks, commercial property and liability risks, and life and health risks. (3 credits)
Prerequisites
- ENG 101: English Composition 1
- ENG 102: English Composition 2
- FIN 210: Financial Management OR HCA 211: Healthcare Finance
Student Learning Outcomes (SLOs)
Students who successfully complete this course will be able to:
- Define risk and explain the basic characteristics of a variety of insurance policies.
- Define risk management and explain the objectives of risk management, and understand the risk management process, including identifying, eliminating, reducing, and transferring the risks
- Explain the major reasons why insurers are regulated and explain the fundamental legal principles that are reflected in insurance contracts.
- Identify the basic parts of any insurance contract.
- Describe the characteristics of Employee Benefits (i.e., Group Life and Health Insurance).
- Describe the characteristics of homeowners and auto insurance.
- Describe the characteristics of individual life and health insurance.
- Describe the characteristics commercial property and commercial liability insurance.
- Describe how good risk management and good ethics must work hand-in-hand.
Course Activities and Grading
| Assignments | Weight |
|---|---|
Discussions (Weeks 1, 2, 4, 6, 7 & 8) | 20% |
Assignments (Weeks 2, 3 & 5) | 20% |
Quizzes (Week 1-3 & 5-7) | 15% |
Midterm Exam (Week 4) | 20% |
Final Research Paper (Week 8) | 25% |
Total | 100% |
Required Textbooks
Available through Charter Oak State College's Book Bundle
- Rejda, George E. Principles of Risk Management and Insurance. 14th edition. Pearson Publishing, 2020.
Course Schedule
Week | SLOs | Readings and Exercises | Assignments |
1 | 1,9 | Topic: Risk and Its Treatment
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2 | 1,2 | Topic: Risk Management and Types of Insurers
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3 | 1,2,3 | Topic: The Legal Environment of Insurance
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4 | 1,4,9 | Topics: Insurance Contracts and Midterm Exam
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Midterm Exam (covers chapters 1, 2, 3, 5, 8 & 9) Due by Sunday, 11:59 PM EST SLOs 1, 2, 3, 4 & 9 | |||
5 | 1,2,5,7 | Topic: Individual Life and Health Insurance
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6 | 1,2,6 | Topic: Employee Benefits and Liability Risk
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7 | 1,2,7,9 | Topics: Auto and Homeowners Insurance
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8 | 1,2,8 | Topics: Commercial Property and Liability and Final Research Paper
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COSC Accessibility Statement
Charter Oak State College encourages students with disabilities, including non-visible disabilities such as chronic diseases, learning disabilities, head injury, attention deficit/hyperactive disorder, or psychiatric disabilities, to discuss appropriate accommodations with the Office of Accessibility Services at OAS@charteroak.edu.
COSC Policies, Course Policies, Academic Support Services and Resources
Students are responsible for knowing all Charter Oak State College (COSC) institutional policies, course-specific policies, procedures, and available academic support services and resources. Please see COSC Policies for COSC institutional policies, and see also specific policies related to this course. See COSC Resources for information regarding available academic support services and resources.