Risk Management and Insurance, Master of Science
The 30-credit Master of Science in Risk Management and Insurance program prepares graduates to thrive in professional positions in the insurance industry. The curriculum provides students with the tools to identify, analyze, and manage risks, with particular focus on commercial risks that are traditionally insured, including property, liability, and human resource exposures.
Students develop an understanding of the economics of risk transfer, including the role of reinsurers and captive insurance and risk transfer; study the legal and regulatory environment that governs risk transfer in the United States and internationally; and study the contractual forms commonly used by insurers to perfect risk transfer, as well as the strategic and operational management of insurance companies.
The M.S. in Risk Management and Insurance will prepare graduates to:
- Understand the process of how to identify, measure, and manage risk
- Understand how to mitigate and finance loss exposures using alternative risk management techniques
- Understand insurance products and corporate risk management strategies
- Understand decision making for the operation of insurance and related financial service sector firms
- Demonstrate skill producing quality independent research using advanced statistical and simulation tools
There are numerous internship opportunities in Manhattan for students. Graduates enjoy excellent employment prospects. The Ellen Thrower Center for Apprenticeship and Career Services places students with leading employers throughout the insurance industry. The Thrower Center advises students on all aspects of job seeking, from resume writing to interview techniques to evaluating competing job offers. In recent years, graduates have been offered professional positions as brokers and underwriters.
Brokers are market intermediaries whose foremost professional duty is to serve clients in managing their risks. As such, they work with organizations to develop the risk management strategies and engage in creating and instituting risk transfer programs on behalf of their clients.
Underwriters work at the center of the insurance industry on behalf of risk bearing organizations, primarily insurance companies. Underwriters decide whether or not to accept risk, and, if they do decide to accept it, whether or not it will be accepted with modifications, and what those will be. Highly skilled underwriters are among the world’s authorities in their area of risk specialization, be at cargo vessel’s moving through oceanic shipping lanes, automobile product liability exposures, or cyber security.
Please see a list of our School of Risk Management, Insurance and Actuarial Science faculty.
All applicants must possess a baccalaureate degree from an accredited institution or the international equivalent prior to enrollment at the graduate level. In addition to the application form and non-refundable application fee candidates should submit the following:
- Statement of professional goals and resume which can be uploaded as part of the application for admission
- Official transcripts from all undergraduate, graduate and professional schools attended.
- Official GMAT or GRE scores, taken within the last five years
- Two letters of recommendation, obtained from professional or academic references
- Official TOEFL or IELTS scores are required for applicants whose native language is not English
For additional information, please contact:
The Peter J. Tobin College of Business
Office of Graduate Admission
8000 Utopia Parkway
Queens, NY 11439
Scholarship and Other Funding
Financial support from the insurance industry provides significant financial assistance to top applicants to the M.S. in Risk Management and Insurance. Outstanding applicants are automatically considered for generous academic scholarships shortly after their acceptance to the program has been confirmed.
The Insurance Leader of the Year (ILOTY) Fellowship is a full tuition funding opportunity for full-time students of the M.S. in Risk Management and Insurance. This fellowship also includes coverage of travel costs associated with an elective international insurance markets course. The ILOTY Fellowship is competitive and requires submission of a separate application.