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    (H) Irm

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    This document outlines a course on Insurance and Risk Management. The course objectives are to develop an understanding of identifying, analyzing, and managing various types of risks, and to understand principles of insurance and its usefulness in business. The course covers concepts of risk, types of insurance, legal aspects of insurance contracts, loss assessment, regulation of the insurance industry, and uses lectures, projects, and case studies for teaching. Student assessment includes class participation, tests, assignments, project work, and an exam.

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    (H) Irm

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    Archana XD
    18 views2 pages
    This document outlines a course on Insurance and Risk Management. The course objectives are to develop an understanding of identifying, analyzing, and managing various types of risks, and to understand principles of insurance and its usefulness in business. The course covers concepts of risk, types of insurance, legal aspects of insurance contracts, loss assessment, regulation of the insurance industry, and uses lectures, projects, and case studies for teaching. Student assessment includes class participation, tests, assignments, project work, and an exam.

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    bcon hons syllabus

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    B.Com(H) IRM

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    This document outlines a course on Insurance and Risk Management. The course objectives are to develop an understanding of identifying, analyzing, and managing various types of risks, and to understand principles of insurance and its usefulness in business. The course covers concepts of risk, types of insurance, legal aspects of insurance contracts, loss assessment, regulation of the insurance industry, and uses lectures, projects, and case studies for teaching. Student assessment includes class participation, tests, assignments, project work, and an exam.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    18 views2 pages

    (H) Irm

    Uploaded by

    Archana XD
    This document outlines a course on Insurance and Risk Management. The course objectives are to develop an understanding of identifying, analyzing, and managing various types of risks, and to understand principles of insurance and its usefulness in business. The course covers concepts of risk, types of insurance, legal aspects of insurance contracts, loss assessment, regulation of the insurance industry, and uses lectures, projects, and case studies for teaching. Student assessment includes class participation, tests, assignments, project work, and an exam.

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    © All Rights Reserved
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    of 2

    B.Com.

    (Hons) CBCS Department of Commerce, University of Delhi

    B.Com. (Hons.): Semester-IV


    Paper BCH 4.4(a): INSURANCE & RISK MANAGEMENT

    Duration: 3 Hrs. Marks: 100 Credits: 6

    Course Objective
    To develop an understanding among students about identifying, analyzing and managing various
    types of risks. Besides the students will be in a position to understand principles of insurance and
    its usefulness in business along with its regulatory framework.
    Course Learning Outcomes
    After completing the course, the student shall be able to:
    CO1: understand the Concept of Risk, it’s types, sources and measurements.
    CO2 : learn the Concepts and Principles of Insurance and its operations.
    CO3: develop insights into various types of Insurance
    CO4: examine the Legal aspects of Insurance contract and Actuaries
    CO5: familiarize with the Regulatory Framework of Insurance

    Course Contents
    Unit I: Introduction
    Concept of risk, Types of risk, Assessment and Transfer, Sources and Measurement of risk, Risk
    evaluation and Prediction, Disaster risk management, Risk retention and Transfer
    Unit II: Insurance I
    Concept of insurance, Need for insurance, Principles of utmost good faith, Insurable interest,
    Indemnity, Economic Function, Proximate cause, Subrogation and Contribution.
    Unit III: Insurance II
    Types of insurance: Life and Non-life insurance; Features, Need and Policies of insurance; Re-
    insurance and Co-insurance: Features, Objectives and Methods; Bancassurance- features and
    Merits.
    Unit IV: Insurance & Risk Management
    Legal aspects of insurance contract, Loss Assessment and Loss control, Control of Malpractices
    and Mis-selling, Exclusion of perils, Actuaries, Computation of insurance premium.
    Unit V: Regulatory Framework of Insurance
    Regulatory Framework of Insurance, IRDA act 1999: objectives of IRDA, Composition of IRDA,
    Duties, Powers and Functions of IRDA, Role of IRDA, Delegation of powers, establishment of
    Insurance Advisory Committee, powers to make regulations.

    References:
    • All the three modules of Insurance and Risk Management by Institute of Chartered
    Accountants of India
    • George, E, Rejda, Principles of Risk Management and Insurance. Pearson Education
    • Gupta. P.K. Insurance and Risk Management, Himalaya Publishing House
    • Mishra, M.N. Principles and Practices of Insurance. Sultan Chand & Sons.
    • Vaughan, E.J. and Vaughan, T, Fundamental of Risk and Insurance, Wiley & Sons

    133
    B.Com.(Hons) CBCS Department of Commerce, University of Delhi

    Additional Resources
    • Black, K & H. D. Skipper, Life and Health Insurance, Pearson Education
    • Crane, F. Insurance Principles and Practices, John Wiley and Sons, New York
    • Dorfman, Marks S. Introduction to Risk Management and Insurance, Pearson Education
    2. Dinsdale, W.A. Elements of Insurance. Pitaman
    • Hansell, D.S. Elements of Insurance, Macdonald Evans

    Note: Latest edition of text books may be used.


    Teaching Learning Process
    As the course is designed to develop an understanding among students about identifying, analyzing
    and managing various types of risks, the teaching learning process will be based on lectures,
    project work and cases studies
    Assessment Methods
    The assessment of the students must be aligned with the course learning outcomes and requires
    Class Participation, Class Test, Assignment, Project Work, End Semester Examination
    Keywords
    Risk Management, Insurance, Bancassurance, Actuaries, Insurance Premium, Regulatory
    Framework Of Insurance

    134

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