Course Code :


Title :
Risk Management and Insurance

Type/Status :


aaaaaaaaaaaa Aims :
This course module is designed to improve the knowledge on Risk Management practices of business firms including insurance
Learning Outcome : aaaaaaaaaaaaaaaa
By the end of this course unit students should be able to:
  • understand the risk management process; Identifying, eliminating, reducing and transferring risks of a firm
  • identify internal and external risks leading to loss exposure
  • improve knowledge on developing and implementing an effective risk management program
  • compare and contrast the various types of insurance policies
  • describe how to obtain and manage cost-effective insurance program and policies

Course Content : Introduction to Risk and Uncertainty; Introduction to Risk Management; Risk Assessment Fundamentals; Risk Control; Risk Financing Techniques; An Introduction to Insurance Industry; The Pricing of Insurance; Insurance Regulations; Legal Aspects of Insurance Contracts. Insurance Contracts Analysis; Property, Liability Coverage, Life Insurance, Health Insurance. An overview of Risk Management Administration

Method of Teaching & Learning:

Lectures, Class room discussions, Presentations

Scheme of Evaluation:

Assignments, Presentations and End semester examination.

The weights given to each component of the evaluation method is announced at the commencement of the module.

Recommended Readings:

Hopkin, P. (2012). Fundamentals of Risk Management (2nd ed.). Kogan Page.

Dorfman, S. M. (2007). Introduction to Risk Management and Insurance (9th ed.). Prentice Hall.

Regulation of the Insurance Industry Act, No. 43 of 2000 and subsequent amendments

Rejda, G. E. (2010). Principles of Risk Management and Insurance (9th ed.). Prentice Hall.

Williams, A. C., Micheal, L. S., & Young, P. C. (1997). Risk Management and Insurance (8th ed.). McGraw-Hill International Edition.