Courses
Fall Semester
RMI 1301 Principles of Risk Management and Insurance
RMI 3333 Commercial Property Risk Management and Insurance
RMI 3388 Computer Applications in Insurance*
RMI 4390 Insurance Industry Operations
Spring Semester
RMI 3335 Life-Health, Pension and Social Insurance
RMI 3361 Insurance and Alternative Risk Transfer*
RMI 4334 Commercial Liability Risk Management and Insurance
RMI 4360 Corporate Risk Management
Elective
(may be used instead of any asterisked* course if available)
RMI 4364 Reinsurance (Fall only)
RMI 3350 Risk Seminar (Global Destination-Must Apply) - Spring only
RMI 4399 Internship
Course Descriptions
RMI 1301 Principles of Risk Management & Insurance: This course provides students with an overview of risk management and insurance. While the course and program emphasis is on business risk, this course provides an overview of selected personal risk management issues that will be useful to students who do not major in the field. Prerequisites for RMI 2301 include accounting (ACC 1301), law.
RMI 3333 Commercial Property Risk Management and Insurance: This course identifies property loss exposures that corporations commonly face and examines how they manage these exposures, discusses the theories and principles governing insurance contracts, and analyzes the commercial property insurance industry.
RMI 3388 Computer Applications in Insurance: *This class provides students with hands-on experience in different computer software to perform various data analysis tasks that are commonly required of entry-level jobs in insurance industry. Basic and intermediate statistics concepts are reviewed in the context of insurance applications.
RMI 4390 Insurance Industry Structure & Organization: This course provides a study of the industrial organization of the evolving Insurance and Financial Services markets. Students are exposed to the structure, conduct, and performance of the US and selected non-US markets with an emphasis on the regulatory environment.
RMI 3335 Life-Health, Pension & Social Insurance: This course provides surveys of (i) life and health insurance issues, especially those that are of importance to business, (ii) pension and employee benefits provisions and issues, and (iii) the mix of insurance coverage collectively described as social insurance. These issues include social security, workers compensation, terrorism coverage, FEMA, OSHA, and other government programs.
RMI 3361 Insurance & Alternative Risk Transfer: *This course provides students with the skills to combine insurance and financial strategies into solutions for managing a firm’s exposure to risk in ways that create economic value for the firm’s owner. The course content posits that firm owners value a risk management program because it mitigates the frictional costs created by
cash flow volatility. To deal with the consequences of cash flow volatility a manager may arrange for an infusion of cash or rearrange the firm’s capital structure in a way that cash shortfalls create few or no frictional costs. The course investigates when and how it is appropriate to arrange for infusion of cash or alter the firm’s capital structure.
RMI 4334 Commercial Liability Risk Management and Insurance: This course identifies liability loss exposures that corporations commonly face and examines how they manage these exposures, discusses the theories and principles governing insurance contracts, and analyzes the commercial liability insurance industry.
RMI 4360 Corporate Risk Management: This course provides students with an understanding of the decision-making process of managing the risks faced by an organization. Using historical cases, students combine skills from management, economics, quantitative analysis, finance, decision science, and psychology to determine and achieve the desired levels of risk and return at the desired times.
RMI 3350 Risk Seminar: This research-oriented course focuses upon selected topics in risk management in which particular emphasis is given to more advanced treatment of issues in risk management and insurance. The course emphasizes research methods used in the discipline.
RMI 4364 Reinsurance: This course provides a survey of reinsurance and the issues of this unique market. The forms and functions of reinsurance are examined, and simple contracts are reviewed. The course also examines current issues, reinsurance account, advanced rating techniques, retention setting, and describes the statistical problems facing reinsurance companies
RMI 4399 Internship: This course provides students with the opportunity to develop applied skills in a supervised, actual work environment. This internship is a one term, part-time, credit -bearing position within a supervised work environment. This course is open to RMI Certificate candidates who hold a 2.75 cumulative index after completion of the fall semester.