Risk Management and Insurance Courses (RMI)

RMI 3335 Principles of Risk Management and Insurance (3)

 

 

An introduction to the legal principles underlying insurance, the basics of risk management, the application of risk management techniques to personal risk management problems, personal property and liability insurance contracts including the personal auto policy and the homeowner’s package, insurance regulation, and the insurance marketplace.
RMI 3340 Surplus Lines and Reinsurance (3)
    A study of the excess and surplus lines insurance markets as well as the reinsurance sector of the insurance industry. The course covers the formation and classification of these companies, their distribution systems, their regulation, their accounting procedures, and a comparison of these companies to admitted insurers.  Prerequisite: RMI 3335 or permission of department chair.
RMI 3342 Insurance Operations (3)
    The focus of Insurance Operations is the key operational activities of insurance organizations.  The course specifically covers marketing and distribution systems, underwriting, principles of rate-making, reinsurance, statutory accounting, and financial analysis.  Each of the functional areas is discussed within the context of regulatory and public policy issues. Prerequisite: RMI 3335 or permission of department chair.
RMI 3346 Life and Health Insurance (3)
    Study of types of life insurance and annuity contracts and their uses; regulations of life and health insurers; development of financial plans utilizing life insurance products; Social Security; group and individual health insurance products including major medical, disability income and long-term care policies and analysis of the marketplace. Prerequisite: RMI 3335 or permission of department chair.
RMI 3348 Property and Liability Insurance (3)
    The fundamentals of commercial property and liability insurance including contracts, rating, underwriting, regulation and financial analysis of insurers.  Prerequisite: RMI 3335 or permission of department chair.
RMI 4440 Corporate Risk Management (3)
    A study of the analysis and treatment of the pure risks faced by the business organization. The course includes development of the risk management process, exploration of the use of various risk management techniques on identified exposures, and the application of the process and the techniques in a risk management case study.  Prerequisite: RMI 3335 or permission of department chair.
RMI 4449 Risk Management and Insurance Seminar (3)
    Focuses on current problems and issues in risk management and insurance.  This is the capstone course in the Risk Management/Insurance curriculum and should be taken the senior year.  The course will include communication, teamwork, and computer skills.  Prerequisite: RMI 3335 or permission of department chair.
RMI 4460 Agency Management (3)
    The Agency Management course is designed to teach the fundamentals of establishing and operating an insurance agency or brokerage.  This is a project-oriented class wherein students develop mission statements, strategic plans, marketing plans, operating plans and time charts in the areas of forming the corporation, licensing, choosing a product mix, developing markets, planning technology, staffing, training, sales, handling claims, and other administrative functions. Prerequisite: RMI 3335 or permission of department chair.