BFN421RISK MANAGEMENT AND INSURANCE

BFN421 introduces students to the fundamental principles of risk management and the role of insurance in mitigating financial risks. The course covers key concepts in identifying, assessing, and managing risks within both personal and organizational contexts. Topics include risk identification techniques, risk control strategies, risk financing, and the various types of insurance products used to manage specific risks, such as life, health, property, and liability insurance. Students will gain a comprehensive understanding of how insurance markets operate and the factors influencing the pricing and selection of insurance policies.

The course also delves into the regulatory environment surrounding the insurance industry, examining how national and international laws affect risk management practices and the insurance market. Students will explore the concepts of underwriting, claims processing, and insurance contracts, and how these elements come together to create effective risk management strategies. By the end of the course, students will be equipped with the knowledge and skills to assess and manage risks,