Introduction of Course

Insurance
and
Risk Management
Md. Anum Shahriar Rabbi

Lecturer, IBA,
University of Rajshahi.
Copyright ©2022 Shahriar_Rabbi, IBA,R.U. All rights reserved! 1

Intended Learning Objectives
You will -
focus on the nature of risk and insurance for both
individuals and organizations today;
learn how to apply risk management techniques;
realize the scenario of insurance practices of
Bangladesh;
point out the different types of insurance (Life, Fire,
Marine);
figure out Reinsurance and social insurance;
get the basics of insurance market.
Copyright ©2022 Shahriar_Rabbi, IBA,R.U.
2
All rights reserved!
Course Learning Outcome
Upon completion of the course, you would

be able to:
Understand and summarize the pervasive nature of
risk on the individual, business and on society;
Illustrate the way in which risk management

techniques especially Insurance can be used to
deal with the problems posed by such risks;
Analyze loss exposures with different insurance

policies in Bangladesh.
3
Rationality of the course
Completion of your BBA program;

Preparation for a career in this field;
Become more knowledgeable
consumers;
Learning to use in personal financial
planning;
Dealing with exposures to loss.

Course Materials
Text Books:
• Principles of Risk Management and Insurance—by George E.
Rejda and M. J. McNamara, (Edition 12th /13th )
• Insurance: Principles and Practices—by M. N. Mishra and Dr. S. B. Mishra
• Fundamentals of Risk and Insurance—by E. J. Vaughan and T.
M. Vaughan (Edition 11th)
Find & Download:

https://rubd.academia.edu/AnumShahriar

Chapter: 1 Risk: An Overview
■The historical concept of risk,
■ Chance of loss and degree of risk,
■Uncertainty, peril and hazard in risk
■Factors creating and increasing risks
■Burden of risk on society
■Classification of risk
■Major personal and commercial risk
■Risks involved in business enterprise, industry and
factory
■Techniques for managing risk
■Case Studies and Application

6
Chapter: 2 Risk Management- A
Helicopter View
■Meaning of Risk Management
■Objectives of Risk Management
■Steps in the Risk Management Process
■Risk Manager’s job
■Benefits of Risk Management
■Personal Risk Management
■Enterprise Risk Management (ERM)
■Financial Risk Management
■ Risk Management Tools
■Case studies and Application

7
Chapter: 3 Insurance and Risk
■Concept of insurance and its historical background
■Functions , Nature and Characteristics of Insurance
■Insurance compared with Hedging and Gambling
■Elements of Insurance Contracts
■Legal Principles of insurance
■Types of insurance
■Benefits of Insurance to Society
■Costs of Insurance to Society
■Features of insurable risk
■Case studies and Application
8
Copyright ©2022 Shahriar_Rabbi, IBA,R.U. All rights reserved!
Chapter: 4 Insurance Practices in
Bangladesh and Insurance Act-2010
■History and Development of Insurance in Bangladesh
■Functions performed by insurers in Bangladesh (Insurance Company
Operations
■Objectives and Contribution/Role of insurance in the national economic
development of Bangladesh.
■Guidelines for formation of insurance company in Bangladesh
■Current scenario and future prospects of Insurance business in
Bangladesh
■Problems of insurance in Bangladesh and ways of overcoming these
problems.
■ The InsuranceAct-2010
■ BIA, IDRA, Sdharan Bima Corpopration, Jiban Bima Corporation,
MetLife Insurance, PICL, Motorbike and Home Insurance in Bangladesh

9
Chapter: 5 Life Insurance (Life and
Health Risks)
■Brief History and Significance of Life insurance in
Bangladesh
■Premature Death and amount of life insurance to own
■ Insurable Interest in Life Insurance
■ Life Insurance policy classification and policy
conditions,
■ Premium ■Mortality Table ■Annuity
■Reserve ■Surrender Value ■Group life insurance
(Rejda)
■Practical problems (calculation of premium and
claims of life insurance).
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Chapter: 6 Marine Insurance (Commercial
Property and Liability Risks)
■Marine insurance in Bangladesh
■Subject Matters of Marine insurance
■Classification of Marine insurance policies and
policy conditions
■Insurable interest and Doctrine of Causa Proxim in
Marine insurance
■Risks covered by Marine insurance
■Marine Losses
■Steps for settlement of Marine insurance claims
■Case and Practical Problems Solution
11
Chapter: 7 Fire Insurance (Personal and
Commercial Risks)
■Fire insurance: nature and significance
■Fire insurance policies and policy conditions
■ Rate Fixation in Fire Insurance
■Procedure of fire insurance claims settlement
■Practical problems (calculating the amount of
Loss in Fire insurance).

12
Chapter: 8 Social Insurance
■Reasons for Social Insurance
■Basic Characteristics of Social Insurance
■Old Age, Survivors, Disability Insurance
■Medicare
■Unemployment Insurance

13
Chapter: 9 Reinsurance
■Reinsurance and its benefits
■Reinsurance and double insurance
■Alternatives to Traditional Reinsurance
■Methods/types/Forms of Reinsurance
■Treaty Reinsurance
■Case Studies

14
Chapter: 10 Insurance Pricing and
Marketing Systems in Bangladesh
■ Insurance Pricing: Objectives and Methods

■ Types of Insurers and Marketing Systems
■Middlemen of Insurance: Agents, Solicitors,
Brokers and representatives
■Group Insurance Marketing

15

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Insurance

Md. Anum Shahriar Rabbi

Copyright ©2022 Shahriar_Rabbi, IBA,R.U. All rights reserved! 1

Upon completion of the course, you would

Illustrate the way in which risk management

Analyze loss exposures with different insurance

Completion of your BBA program;

Copyright ©2022 Shahriar_Rabbi, IBA,R.U. All rights reserved! 4

Find & Download:

Copyright ©2022 Shahriar_Rabbi, IBA,R.U. All rights reserved! 5

Copyright ©2022 Shahriar_Rabbi, IBA,R.U.

Copyright ©2022 Shahriar_Rabbi, IBA,R.U.

Copyright ©2022 Shahriar_Rabbi, IBA,R.U.

Copyright ©2022 Shahriar_Rabbi, IBA,R.U.

Copyright ©2022 Shahriar_Rabbi, IBA,R.U.

Copyright ©2022 Shahriar_Rabbi, IBA,R.U.

■ Insurance Pricing: Objectives and Methods

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