RISK MANAGEMENT

TTh 04:30-06:00 and 06:00-07:30

I. The Risk Management Problem

1.1 The human race and risk
1.2 The concept of risk
1.3 The burden of risk
1.4 Techniques for dealing with risk
1.5 Business risk management

II. The Risk Management Solution

2.1 The history of modern risk management
2.2 The risk management process
2.3 Misconceptions about risk management
2.4 The risk managers job
2.5 The non-professional risk manager
2.6 Outside risk management services

III. Risk Management Decisions

3.1 The tools of risk management
3.2 Risk management decisions

IV. Evaluation and Review of Risk Management Programs

4.1 General evaluation and review
4.2 Risk management audits

V. Risk Management Objectives

5.1 The need for risk management objectives
5.2 Objectives of risk management

VI. Risk Identification

6.1 Responsibility for risk identification
6.2 Risk identification methodologies
6.3 Risk identification tools
6.4 Risk identification techniques
6.5 Risk management information systems

VII. Risk Evaluation: Measuring Severity

7.1 Importance of loss severity in ranking exposures
7.2 The prouty measures of severity
7.3 Measuring property loss exposures
7.4 Measuring indirect loss exposures
7.5 Measuring criminal loss exposures
7.6 Measuring legal liability exposures

VIII. Risk Evaluation: Measuring Frequency

8.1 Usefulness of quantitative analysis

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IX. Risk Control: General Considerations
9.1 Risk control generally
9.2 Historical neglect of risk control
9.3 The risk manager and risk control
9.4 Theories of accident causation
9.5 Approaches to loss prevention and control
9.6 Systems safety
9.7 Sources of assistance for risk control
9.8 Disaster planning

X. Risk Financing
10.1 The nature and functions of insurance
10.2 Elements of an insurable risk
10.3 The fields of insurance

XI. Risk Financing: Practical Considerations in Insurance

Buying
11.1 Insurer pricing
11.2 Underwriting
11.3 Competition in the insurance agency
11.4 Insurance shortages
11.5 Access to the insurance market

XII. Regulation of the Insurance Industry

12.1 The why of government regulation of insurance
12.2 Regulation today
12.3 Areas regulated
12.4 Taxation of insurance companies

XIII. Legal Principles Relating to Insurance Buying

13.1 Insurance and the law of contracts
13.2 Special legal characteristics of insurance contracts

XIV. Risk Financing: Retention

14.1 Risk retention techniques classified
14.2 Financing losses versus financing risk
14.3 Self-insurance
14.4 Combining retention and transfer

XV. Risk Financing: Captive Insurers

15.1 Types of captives
15.2 Taxation of captives
15.3 Structuring the captives
15.4 The risk retention act of 1986*

XVI. Managing Property Risks: Risk Control

16.1 Avoiding property risks
16.2 Non-insurance transfers
16.3 Fire prevention and loss control

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 16.4 Risk control measures for other perils
16.5 Salvage operations

XVII. Managing Property Risks: Risk Finance

17.1 Insurable interest
17.2 Commercial property direct loss coverages
17.3 Boiler and machinery insurance
17.4 Inland marine insurance
17.5 Flood insurance
17.6 Package policies for business firms
17.7 Combining transfer and retention

XVIII. Managing Consequential Loss Risks: Control and

Finance
18.1 Controlling consequential loss exposures
18.2 Financing consequential loss

XIX. Managing Crime Risks: Risk Control

19.1 Loss control and crime generally
19.2 Employee dishonesty loss control
19.3 Non-employee crime loss
19.4 Computer security
19.5 Terrorism and bomb threats
19.6 Outside crime control services

XX. Managing Crime Risks: Risk Finance

20.1 The portfolio crime coverage forms
20.2 Employee crime coverages
20.3 Non-employee crime coverages
20.4 Package crime policies
20.5 Retention of crime exposures

XXI. Managing Transit Risks: Risk Control

21.1 Identifying and measuring transportation risk
21.2 Loss prevention and control for transit risk
21.3 Ocean marine transportation risks

XXII. Managing Transit Risks: Risk Finance

22.1 Inland marine insurance
22.2 Transportation coverages
22.3 Ocean marine insurance

XXIII. Managing Liability Risks: Risk Control

23.1 The law of torts*
23.2 Liability loss prevention and control

XXIV. Managing Liability Risks: Risk Finance

24.1 Legal liability and liability insurance
24.2 General liability insurance

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 24.3 Insurance bailees
24.4 Excess liability and umbrella liability coverage
24.5 Combining retention and transfer

XXV. Managing Auto Risks: Control and Finance

25.1 An overview of automobile coverages
25.2 The legal environment of the automobile
25.3 Fleet safety
25.4 Commercial automobile insurance
25.5 Buying commercial auto insurance
25.6 Aviation insurance

XXVI. Managing Employee Injury Risks: Risk Control

26.1 The workers compensation system
26.2 The occupational safety and health act (OSHA)*
26.3 Design of effective safety program

XXVII. Managing Employee Injury Risks: Risk Finance

27.1 Workers compensation insurance
27.2 Workers compensation rating plans
27.3 Self-insurance and workers compensation
27.4 The workers compensation crisis

XXVIII. Managing International Risks

28.1 Multi-national corporations
28.2 Complications in international risk management
28.3 Managing political risks

XXIX. Managing Organization Risks from Death and

Disability
29.1 Types of life insurance contracts
29.2 Key employee insurance
29.3 Non-qualified deferred compensation plans
29.4 The business continuation exposure

XXX. Employee Benefits

30.1 Responsibility for employee benefits
30.2 Employee benefits defined
30.3 Employee benefits generally
30.4 ERISA*
30.5 Group insurance funding issues
30.6 A profile of employee benefit programs

XXXI. Social Insurance Programs

31.1 The old-age, survivors, and disability insurance
programs
31.2 Workers compensation

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 31.3 Unemployment insurance
31.4 Compulsory temporary disability insurance law*

XXXII. Managing Employee Benefits: Life and Disability

32.1 Life insurance as an employee benefit
32.2 Disability income benefits

XXXIII. Managing Employee Benefits: Health Expense

Coverage
33.1 Health care as an employee benefit
33.2 Approaches to financing health care benefits
33.3 Dental expense insurance
33.4 Funding arrangements

XXXIV. Managing Employee Benefits: Qualified Retirement

Plans
34.1 Pensions
34.2 Qualified retirement plans
34.3 Funding
34.4 ERISA pension plan termination insurance*