The University of Sharjah

College of Business Administration

Department of Accounting, Finance and Economics Course Syllabus Fall 2011

Course Name:

Risk Management

Course Number: 0301365

Instructors Name: Telephone: 06-5050519 Office Location: M5-108, W5-229 Office Hours: M5-108: W5-229: Lectures: U, T, R; M;

Professor Mahendra Raj E-mail: mraj@sharjah.ac.ae 09.00-10.00 08.00-13.00 Location: A&R 102

Sec 11; U, T, R

11.00-11.50;

1.

Course Description:

This course is an introduction to the study of risk and insurance. The evolution, types of insurances, coverage, and the relationship of insurance to business activity and the national economy are studied. The students are imbibed with the knowledge of basic insurance contracts, the coverage and provisions of property, life, health, and liability policies for individuals. Finally, the course focuses on the principles, methods and techniques of premium calculations. The course aims at introducing the concept of risk and techniques of identifying, measuring and managing it. In this context, insurance as a risk management tool is discussed with references to its role, functions and basic principles as applicable to different classes of insurance. Thereby, this course will provide the students with a broad understanding of risk and insurance as a means to manage it. This forms the foundation to facilitate the students in their further studies on insurance and starting a career in risk management industry.

2. Course Objectives
Course Objectives 1) Imbibe a sound understanding of the theories underlying risk and insurance and their relevance to real world issues. 2) Inculcate the skills and ability to identify and manage risk in the real world through the use of appropriate insurance tools and techniques. 3) Prepare the students for a career in the risk and insurance industry by imparting an understanding of the different types of insurance contracts, the insurance industry and its legal aspects. Relationship to Program Goals 1 2 3

3. Course Learning Outcomes: Course Outcomes: Students who successfully complete this course should be able to Relationship to Program Outcomes A. Identify and assess the different types of risks affecting the 1.1 firms and individuals. B. Evaluate the different types of risks and the various 2.1 insurance tools available to manage them with a view to selecting the optimal and most efficient technique. C. Critically analyze the various insurance markets, tools and 3.2 their limitations for managing different types of risks.

4. Relationships between Course Objectives and Course Outcomes

Course Objectives 1. 2. 3. A X X Course Outcomes B X X C X

5. Assessment of Course Learning Outcomes Assessment Learning Outcomes Marks Method Measured Assignments/Quiz A, B 20 Mid Term Project A, C B, C 20 20 Due on TBA 13th November 13th December

Final Exam Total

A, B, C

40 100

31Dec201111Jan2012

6. Lecture Outline No Topic 1 2 3 4 5 6 7 8 9 10 11 12 Introduction to Risk Introduction to Insurance Risk Management Legal Principles of Insurance Insurance Contract Insurance Finance Insurance Industry Functions of Insurers Life Insurance Contract Provisions in Life Insurance Automobile Insurance Commercial Property Insurance Readings Chp:1 Chp:2 Chp:3 Chp:5 Chp:6 Chp:26 Chp:24 Chp:25 Chp:16 Chp:17 Chp:10 & 11 Chp:13 Tasks

7. Educational Resources 1. Main Textbook Rejda, G. E., Principles of Risk Management and Insurance, 11thEdition, Pearson Education, 2011. 2. References a. Vaughan and Vaughan, Fundamentals of Risk and Insurance, 10th Edition, Wiley, 2008. b. Harrington and Niehaus, Risk Management and Insurance, 2nd Edition, McGraw Hill, 2003. c. Dorfman, Introduction to Risk Management and Insurance, 9th Edition, Prentice Hall, 2008.

3. 4. 5. 6.

Cases Journal articles Videos Internet readings and clips

8. Student Assessment a) Assignments b) Mid Term Exam c) Project d) Exam Total 9. Grading Key Percentage 90-100 85-89 80-84 75-79 70-74 65-69 60-64 Below 60 Incomplete 10. Attendance Regular attendance is mandatory. Students are expected to attend all classes and be on time. The University rules stipulate that students cannot miss more than 20% of class lectures. 1. Absences during ADD/DROP week count. 2. Make up: i. No Late submissions: score may be reduced. ii. Midterm and Final Exam: different from and harder than original. 3. Excused Absences: There are no excused absences. All absences are recorded as part of the Attendance Policy. Hence, you are encouraged to save up your absences for unavoidable circumstances. 4. Tardiness: students are considered tardy if they are not present before the classroom door is closed both at the beginning of the class and following the break. Students are requested not to interrupt class proceedings by trying to enter once the class has Description Excellent Very good Good Very Satisfactory Satisfactory Fair Pass Fail I Grade A B+ B C+ C D+ D F I Value in Pts 4 3.5 3 2.5 2 1.5 1 0 20 20 20 40 points points points points

100 points

begun. Three late attendances may be considered as one absence. 11. Assignment submission and marking rules 1 Submission format of Assignments: All assignments are to be submitted either in hardcopy or electronically through blackboard. I shall give you further advice/instructions on these options. A copy of the Standard (College/Course) Assignment Attachment Sheet must be completed and attached with each assignment submitted. This sheet will be made available to you either online or in printed format. For hardcopy submissions: A printed copy of the sheet must be attached to the submission form. 2 Return of marked assignments and requests for reviews: Assignments must be submitted on time. Unjustified late submissions will attract penalties. Your assignment will be marked, commented upon and despatched back to you within a reasonable time. Please note that before results are returned to you, your lecturer will have applied methods to ensure that the standards by which your work has been assessed are the same for all students enrolled in the course. This information will be provided to you in class, at the start of the course. Special consideration: If you consider that your assessment was or is likely to be adversely affected by serious and exceptional circumstances beyond your control, you may apply for special consideration. Grounds can be medical, compassionate or hardship/trauma. If you are encountering problems that prevent you from submitting your assignments on time, you should let your lecturer know or write a letter to the relevant authority of the College. Applications for special consideration must be made no later than three days after the due date of the assessment task. They are referred to the relevant course chair or nominee for determination and the outcome is notified within 10 working days of the application or before publication of final results for the course.

12. Academic Integrity 1. The instructor adheres to all UoS policies regarding academic integrity as stated in the UoS Student Handbook. Students are responsible for internalizing all information regarding UoS academic integrity policies. Full text and explanation of these policies can be found in the student Handbook. 2. Unless specifically expressed by the instructor, collaboration between students in this course, between students in previous courses, external assistance in any form or presenting resources/research without proper citation which has been

developed by another individual or organization is strictly prohibited. All work must be the result of your own efforts. 3. Students who are suspected of plagiarism or other violations of academic integrity codes will open investigation. Those found guilty are subject to disciplinary action. Repeated offence will result in permanent expulsion from the University. 4. Proper Referencing and Plagiarism: All submitted assignments are expected to be properly referenced. Plagiarised assignments will be penalised. Plagiarism is the copying of another persons ideas or expressions without appropriate acknowledgment and presenting these ideas or forms of expression as your own. Plagiarism includes copying any material from books, journals study notes or tapes, the web, the work of other students, or any other source without indicating this by quotation marks or by indentation, italics or spacing and without acknowledging that source by footnote or citation. Plagiarism also includes the use of the work of other students as your own without acknowledgment. The College and University regard plagiarism as an extremely serious academic offence and will impose penalties.