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Insurance and Risk Management syllabus

BNK 2097 units · 60 topicsAcademic year 2083/84
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Insurance and Risk Management

7 units

1. Introduction (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 nondiversifiable, 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. Business risk management The changing scope of risk management
    1. Business risk management The changing scope of risk management
    2. Loss forecasting
  7. Financial analysis in risk management decision making
    1. Financial analysis in risk management decision making
  8. Other risk management tools
    1. Other risk management tools.

3. Insurance Device (5 LHs)

  1. Definition of insurance
    1. Definition 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
  7. Types of insurance
    1. Types of insurance: private and government
  8. 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. Meaning and importance of life insurance
    1. Meaning and importance of life insurance
    2. Premature death
  2. Financial impact of premature death
    1. financial impact of premature death
  3. Amount of life insurance of own, Types of life insurance
    1. amount of life insurance of own, Types of life insurance
  4. Other types of life insurance
    1. Other types of life insurance
  5. Life insurance contractual provisions
    1. Life insurance contractual provisions
    2. Dividend option
  6. Nonforfeiture option
    1. Nonforfeiture option
    2. Settlement option
  7. Additional life insurance benefits
    1. additional life insurance benefits
  8. Determining the cost of life insurance
    1. Determining the cost of life insurance
  9. Rate of return on saving component
    1. Rate of return on saving component
  10. 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
  11. Progress of life insurance in Nepal
    1. Progress of life insurance in Nepal.

6. Non-life insurance (12 LHs)

  1. Commercial Property and liability insurance
    1. Commercial Property and liability insurance
  2. Fire insurance
    1. Fire insurance: nature and use of fire insurance
    2. types of policies
  3. Rate fixation in fire insurance
    1. rate fixation in fire insurance
    2. Payment of claims
  4. Marine insurance
    1. Marine insurance: nature, marine insurance policies
  5. Premium calculation, payment of claims
    1. premium calculation, payment of claims
  6. Auto insurance
    1. Auto insurance: Liability coverage
  7. Medical payment coverage
    1. Medical payment coverage
  8. Uninsured motorists coverage
    1. Uninsured motorists coverage
  9. Cost of auto insurance
    1. Cost of auto insurance
  10. Compulsory auto third party insurance
    1. Compulsory auto third party insurance
  11. Social Insurance
    1. Social Insurance: Old-age survivors and disability insurance
    2. Medicare
  12. Unemployment insurance
    1. Unemployment insurance
  13. Workers compensation
    1. Workers compensation
  14. Miscellaneous insurance
    1. Miscellaneous 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 the existing Insurance Act and Insurance Regulation
    1. Features and coverage of the 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.