Risk Management & Insurance Major

The Risk Management & Insurance Major is designed to provide students with an understanding of the insurance industry and of the current academic and practitioner literature on financial risk management. In the Risk Management & Insurance major, students will explore the various functional areas of insurance company management, including investment and financing policies as well as pricing and underwriting activities. Students will also become familiar with the types of risks facing financial institutions, corporations, and individuals and learn how to measure and manage these risks. The Risk Management & Insurance major prepares students for careers in the financial services industry (insurance companies, banks, securities firms, and pension funds).

Learning Goals and Objectives

Goal 1: Risk Management Skills

Objective 1.1: Students majoring in Risk Management & Insurance should be competent in assessing coverage in common insurance policies.

Goal 2: Critical Thinking Skills

Objective 2.1: Students majoring in Risk Management & Insurance will learn to think critically and analytically in identifying, analyzing, and treating the risks of an organization.

Goal 3: Communication Skills

Objective 3.1: Students majoring in Risk Management & Insurance will learn to make recommendations that are clearly and effectively supported by analysis in written reports.

Objective 3.2: Students majoring in Risk Management & Insurance will learn to communicate clearly and effectively when delivering oral presentations to the target audience.

All students majoring in Risk Management & Insurance must complete the following GEP requirements (please see section in the catalog on the General Education Program for details).

The traditional undergraduate programs include 40 courses distributed across three components: A General Education component divided into Signature Courses, Variable Courses, and an Integrative Learning requirement; a Major and Divisional component; and Free Electives. In addition to course requirements as specified in each area, students must complete one certified course in each of the following overlay areas:

  1. Diversity, Globalization or Non-western Area Studies,
  2. Ethics Intensive, and
  3. Writing Intensive. Overlay requirements are part of the forty-course requirement.

General Education Signature Courses

See this page about Signature courses. Six courses

General Education Variable Courses

See this page about Variable courses. Six to Nine courses

General Education Integrative Learning Component

See this page about Integrative Learning Component. Three courses

ILC #1
ECN 102Introductory Economics Macro3
ILC #2 1
MAT 119Applied Business Calculus4
or MAT 123 Differential Calculus
ILC #3 2
Students may take one additional course (excluding first year seminars) in the College of Arts and Sciences.3

Free Electives

Six courses

Business Foundation
ACC 101Concepts: Financial Accounting3
ACC 102Managerial Accounting3
DSS 200Intro to Information Systems3
DSS 210Business Statistics3
DSS 220Business Analytics3
FIN 200Intro to Finance3
MGT 110Essent'ls of Organzational Beh3
or MGT 120 Essentials of Management
MGT 360Legal Environment of Business3
MKT 201Principles of Marketing3
BUS 495Business Policy4

Major Requirements

Major Concentration

RMI Core
RMI 200Introduction to Insurance3
RMI 300Property and Casualty3
RMI 301Corporate Risk Management 33

Electives in major – Class of 2018 or Declaration of Major 2015 or later:

Three courses, including a Risk Management & Insurance Elective, a Flexible Elective, and an Advanced RMI Elective, are required:

Risk Management & Insurance Elective
Select one from any 300- or 400-level RMI course: 43
Insurance Company Operations
Alternate Risk Financing
RMI 370 - RMI 379: Topics in Risk Management & Insurance
Underwriting
Enterprise Risk Management
RMI 470 - RMI 479: Advanced Topics in Risk Management & Insurance
RMI 493 - RMI 494: Individual Research in Risk Management & Insurance
Flexible Elective
Select one from any 300- or 400-level RMI, FIN, or REF course: 53
Intermediate Finance
Investments
International Finance
Small Business Finance
FIN 304 - FIN 305: Honors Research in Finance
FIN 370 - FIN 379: Topics in Finance
Mergers & Acquisitions
Student Managed Funds
Portfolio Managment
Derivative Securities
FIN 470 - FIN 479: Advanced Topics in Finance
FIN 493 - FIN 494: Individual Research in Finance
Commerc Real Estate Valuation
Residential Loans& Investments
Commercial Real Estate Dev
Insurance Company Operations
Alternate Risk Financing
RMI 370 - RMI 379: Topics in Risk Management & Insurance
Underwriting
Enterprise Risk Management
RMI 470 - RMI 479: Advanced Topics in Risk Management & Insurance
RMI 493 - RMI 494: Individual Research in Risk Management & Insurance
Advanced RMI Elective
Select one from any 400-level RMI course:3
RMI 400Underwriting3
RMI 410Enterprise Risk Management3
RMI 470 - RMI 479: Advanced Topics in Risk Management & Insurance
RMI 493 - RMI 494: Individual Research in Risk Management & Insurance