INSURANCE AND RISK MANAGEMENT CURRICULUM

3300 Introduction to Risk and Insurance (3-3-0) Prerequisite: Completion of Gen. Ed core (42 hours)
Basic principles of risk management and insurance. Examination of the role of insurance in the treatment of pure risk. For students wishing to earn the Chartered Property and Casualty Underwriter (CPCU) designation, course prepares students to take the CPCU 510 examination. Course fulfills partial requirements for University Associate Certified Risk Manager (UACRM) designation.

3301 Life and Health Insurance (3-3-0)
Co-requisite: IRM 3300.
Basic principles of life and health insurance and annuities. Policy pro-visions and innovations, and related financial planning. For students wishing to earn the Chartered Life Underwriter (CLU) designation, course fulfills requirements for HS 311 course.

3303 Value Analysis in Insurance and Risk Management (3-3-0)
Prerequisites: FIN 3302, IRM 3300; Co-requisite IRM 3304.
Covers the basics of corporate value analysis as used by insurance institutions and in determining premium and actuarial decisions, For students wishing to earn the Chartered Property and Casualty (CPCU) designation, this course prepares students for the CPCU 540 examination.

3304 Insurance Operations (3-3-0)
Co-requisite: IRM 3300.
Examination of the composition, financial structure, and operations of the insurance industry. Special consideration is given to consumer problems and solutions. For students wishing to earn the Chartered Property and Casualty Underwriter (CPCU) designation, this course prepares students for the CPCU 520 examination.

3305 Risk Management Theory and Practice (3-3-0)
Prerequisite: IRM 3300, 3301, and 3304 or program coordinator’s permission.
Capstone course which integrates the risk management process for handling business risks faced by organizations including property and liability risks, employee benefit planning, and international loss exposures, with an emphasis on risk identification and evaluation together with alternative methods of risk control and risk financing techniques. Course fulfills requirements for University Associate Certified Risk Manager (UACRM) designation for students who have also completed IRM 3300.

3306 Legal and Political Aspects of
 Insurance and Risk Management (3-3-0)
Prerequisites: BA 3301, IRM 3300 and 3301.
Co-requisite: IRM 3304
Conceptual and institutional foundations underlying the regulation of the insurance industry at the national and international levels, financial oversight of insurers, and the regulation of insurance prices, products, and market conduct. For students wishing to earn the Chartered Property and Casualty Underwriter (CPCU) designation, this course prepares students for the CPCU 530 examination. 

3307 Surety and Bonds (3-3-0)
Prerequisite: IRM 3304.
Contract and commercial surety. Survey of commercial surety products including probate, financial guarantee, court bonds, license and permit bonds. Foundations of the complex underwriting process are also covered. Operational issues such as file reviews and discerning patterns and trends in information as well as rate filings are also covered.

3308 Reinsurance (3-3-0)
Prerequisite: IRM 3304.
Development of reinsurance markets, elements and principles, facultative reinsurance, treaty reinsurance-pro rata, treaty reinsurance-surplus share, excess reinsurance, contract wording and accounting.

3309 Insurance Market and Depository Regulation (3-3-0)
Prerequisites: FIN 3302, IRM 3300; Co-requisite IRM 3304.
Covers insurance and regulatory requirements of federal and state insurance commissions.  For students wishing to earn the Chartered Property and Casualty Underwriter (CPCU) designation, this course prepares students for the CPCU 560 examination.

3310 Insurance in Estate Planning (3-3-0)
Prerequisites: IRM 3300 and 3301.
Covers various aspects of insurance and its role in estate planning.  For students wishing to earn the Chartered Life Underwriter (CLU) designation, this course fulfills the requirements for HS 330 course.

3311 Business Owners Planning (3-3-0)
Prerequisites: IRM 3300 and 3301.
Focuses on tax and legal aspects of organizing a business, compensation and business succession planning, estate planning and freeing techniques, buy-sell agreements and business transfers.  For students wishing to earn the Chartered Life Underwriter (CLU) designation, this course fulfills the requirements for HS 331 course.


3312 Group Benefits (3-3-0)
Prerequisites: IRM 3300 and 3301.
Analyzes group insurance benefits including the governmental environment, contract provisions, marketing, underwriting, rate making, plan design, cost containment and alternative funding methods. For students wishing to earn the Chartered Life Underwriter (CLU), Registered Health Underwriter (RHU) or Registered Employee Benefits Counselor (REBC) designation, course fulfills requirements for HS 325 course.

3399 Directed Study in Insurance and Risk Management 
Prerequisite: Approval of program coordinator, department chair and dean (PS03A17)
Specialized research, reading, and study in insurance and risk management to meet the needs and interests of the individual student. Offered on an arranged basis only. Register with program director – not online.

4301 Survey of Property and Casualty Insurance
Prerequisites: IRM 3300, 3304; Co-requisite IRM 3306.
Examination of the major commercial property loss exposures including fire, business, interruption, crime, inland marine, ocean marine, and miscellaneous property damage. Different risks are analyzed to select optimal combinations of risk treatment and insurance for financial protection against property losses. For students wishing to earn the Chartered Property and Casualty Underwriter (CPCU) designation, this course prepares students for the CPCU 557 examination.

4302 Advanced Life Insurance and Application (3-3-0)
Prerequisites: IRM 3300 and 3301.
Design of products sold by life insurers and their legal characteristics, financial planning, underwriting, and marketing. For students wishing to earn the Chartered Life Underwriter (CLU) designation, course fulfills requirements for HS 323 course.

4303 Advanced Property Insurance and Application (3-3-0)
Prerequisites: IRM 3300, 3304; Co-requisite 3306.
Study of business insurance problem evaluation and planning with proposed solutions utilizing comprehensive coverage package programs. For students wishing to earn the Chartered Property and Casualty Underwriter (CPCU) designation, this course prepares students for the CPCU 551 examination.

4304 Advanced Casualty Insurance and Application (3-3-0)
Prerequisites: IRM 3300, 3304,Corequisite IRM 3006.
Examines property and liability loss exposures and their management, with primary emphasis on insurance. For students wishing to earn the Chartered Property and Casualty Underwriter (CPCU) designation, this course prepares students for the CPCU 552 examination.

4305 Special Projects
Prerequisites: BA 3350, IRM 3300 and permission of program coordinator.
Students will work one-on-one with IRM faculty in stages to research and compile a bibliography, prepare a literature review, and produce a major term paper on a selected topic. Offered on an arranged basis only. Register with program director – not online.

4306 Advanced Employee Benefits and Application
Prerequisites: IRM 3300, 3301 and 3312
Study of basic concepts and managerial concerns underlying the group insurance mechanism and the characteristics of various qualified retirement planning vehicles. For students wishing to earn the Registered Health Underwriter (RHU) or Registered Employee Benefits Counselor (REBC) designation, course fulfills requirements for HS 340 course.

4307 Advanced Managed Care
Prerequisites: IRM 3300, 3301, 3312 and 4306 Analyzes managed health care in detail. Covers provider compensation, authorization systems, and specialty managed care services. For students wishing to earn the Registered Health Underwriter (RHU) or Registered Employee Benefits Counselor (REBC) designation, course fulfills requirements for HS 344 course.

4308 Advanced Risk Management Theory and Practice (3-3-0)
Prerequisite: IRM 3300, 3301, 3304 and 3305 or program coordinator’s permission.
Course integrates enterprise risk management process and risk financing techniques. Course fulfills requirements for Certified Risk Manager (CRM) designation for students who have also completed IRM 3300 and 3305.

4380 Field Experience in Insurance
Prerequisite: IRM 3300 and program coordinator’s approval. (PS03A21)
Field Experience integrates theory learned in the classroom with practical work experience in a job related to the student’s academic and professional goals. The work experience and the academic experience must be directly related. Positions may or may not be paid and may last the duration of the fall or spring semester or the entire summer. Field Experience generally is not approved for students already employed in their area of study. Eligibility for Field Experience enrollment includes at least 60 semester credit hours completed in the degree program, a minimum cumulative grade point average of 2.5 and prior approval of the department chair in whose area the course is being offered. Other requirements specified by the department may impact the applicant's eligibility. Submission of applications and other preliminary procedures should be completed during the semester prior to the one in which the student wishes to enroll. The College of Business allows up to two courses (6 semester credit hours) in Field Experience to be applied toward graduation requirements. These courses are graded on a pass/fail basis and do not apply toward calculation of the grade point average. Field Experience credit may NOT be used to satisfy minor program requirements. Offered on an arranged basis only. Register with program director – not online.

4390 Special Topics in Insurance and Risk Management
Prerequisite: approval of program coordinator. Investigation of significant topics or problems in insurance, risk management, and theory. May be repeated once for credit. Offered on an arranged basis only.