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Fundamentals of Risk and Insurance syllabus

INS 2197 units · 51 topicsAcademic year 2083/84
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Fundamentals of Risk and Insurance

7 units

1. Introduction to Risk (5 LHs)

  1. Meaning of risk
    1. Meaning of risk
    2. Peril and hazard
  2. Classification of risk
    1. Classification of risk: pure and speculative, diversifiable and non-diversifiable, enterprise and systemic
  3. Major personal risk
    1. Major personal risk: premature death, inadequate retirement income, poor health, unemployment, property and liability
  4. Commercial risk
    1. Commercial risk: property, liability, loss of business income, cyber security
  5. Identity theft and other
    1. identity theft and other
  6. Burden of risk on society
    1. Burden of risk on society
  7. Techniques of managing risk
    1. Techniques of managing risk: risk control, risk financing.

2. Risk Management (6 LHs)

  1. Meaning of risk management
    1. Meaning of risk management
  2. Objective of risk management
    1. Objective of risk management
  3. Steps in risk management process
    1. Steps in risk management process
  4. Benefits of risk management
    1. Benefits of risk management
  5. Personal risk management
    1. Personal risk management
  6. Enterprise risk management(ERM)
    1. Enterprise risk management(ERM)
  7. Difference between traditional risk management and ERM
    1. Difference between traditional risk management and ERM
    2. ERM process
  8. Benefits of ERM programme
    1. Benefits of ERM programme
  9. Insurance market dynamics
    1. Insurance market dynamics
    2. Loss forecasting
  10. Financial analysis in risk management decision making
    1. Financial analysis in risk management decision making
  11. Other risk management tools
    1. Other risk management tools.

3. Insurance and Risk (5 LHs)

  1. Meaning of insurance
    1. Meaning of insurance
  2. Basic characteristics of insurance
    1. Basic characteristics of insurance
  3. Characteristics of insurable risk
    1. Characteristics of insurable risk
  4. Adverse selection and insurance
    1. Adverse selection and insurance
  5. Insurance and gambling
    1. Insurance and gambling
  6. Insurance and hedging
    1. insurance and hedging
    2. Types of insurance
  7. Benefits and costs of insurance to society
    1. Benefits and costs of insurance to society.

4. Legal Principles in Insurance (5 LHs)

  1. Fundamental legal principles
    1. Fundamental legal principles: principle of indemnity, principle of insurable interest, principle of subrogation and principle of utmost good faith
  2. Requirements of an insurance contract
    1. Requirements of an insurance contract
  3. Distinct legal characteristics of insurance contracts
    1. Distinct legal characteristics of insurance contracts
  4. Law and the insurance agent
    1. Law and the insurance agent
  5. Basic parts of insurance contract
    1. Basic parts of insurance contract
  6. Insurance provisions
    1. Insurance provisions: endorsements and riders, Deductibles, coinsurance
  7. Other-insurance provisions
    1. Other-insurance provisions.

5. Life Insurance (10 LHs)

  1. Life insurance
    1. Life insurance: meaning, features and importance
  2. Premature death and its impact
    1. Premature death and its impact
  3. Amount of life insurance of own
    1. Amount of life insurance of own
  4. Types of life insurance
    1. Types of life insurance
  5. Life insurance contractual provisions
    1. Life insurance contractual provisions
  6. Determining the cost of life insurance
    1. Determining the cost of life insurance
  7. Rate of return on saving component
    1. Rate of return on saving component
  8. Taxation of life insurance, Shopping of life insurance, Calculation of life insurance premium
    1. Taxation of life insurance, Shopping of life insurance, Calculation of life insurance premium
  9. Life insurance in Nepal
    1. Life insurance in Nepal: Practices, issues, and life insurance companies.

6. Non-life insurance (12 LHs)

  1. Property insurance, liability insurance, pecuniary benefit insurance, Fire insurance
    1. Property insurance, liability insurance, pecuniary benefit insurance, Fire insurance: nature and use of fire insurance: types of policies, rate fixation in fire insurance, payment of claims
  2. Marine insurance
    1. Marine insurance: nature, marine insurance policies, premium calculation, payment of claims
  3. Auto insurance
    1. Auto insurance: Liability coverage, uninsured motorists coverage, cost of auto insurance, third party insurance
    2. Social Insurance
    3. Health insurance
  4. Unemployment insurance
    1. Unemployment insurance
  5. Agriculture insurance
    1. Agriculture insurance.

7. Government Regulations of Insurance (5 LHs)

  1. Reasons for insurance regulation
    1. Reasons for insurance regulation
  2. Methods of regulating insurers
    1. Methods of regulating insurers
    2. Areas of regulation
  3. Current issues in insurance regulation
    1. Current issues in insurance regulation
  4. Features and coverage of existing Insurance Act and Insurance Regulation
    1. Features and coverage of existing Insurance Act and Insurance Regulation
  5. Role and functions of Nepal Insurance Authority in regulating insurance in Nepal
    1. Role and functions of Nepal Insurance Authority in regulating insurance in Nepal.