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MSY 027- RISK MANAGEMENT AND INSURANCE

Trimester V (2011-13 Batch)

Instructor

Kaleel Nisha and Nirmala Raghavan

Introduction

Risk is a part of every human endeavor. While some of these risks may seem trivial,

others make a significant difference in the way we live our lives. Similarly, the business worldhas its own sets of risks. How a firm deals with these risks impacts directly on all the people

dealing with this firm, its clients, employees, creditors, owners suppliers. Because of thismultiplier effect, it is utmost importance that firms and governments have proper riskmanagement strategies.

Insurance is one such device of risk management which helps to meet uncertain losses

which are carried out through the transfer of risks of many individuals to one person or to a

group of persons.

Objectives

More specifically the course focuses on

Types of risks

Benefits of risk management

Risk analysis techniques

Types of insurance

Insurance accounting

Pedagogy

This course will have lecture sessions, presentations and assignments. Cases relating to risk

management and insurance will be given as individual assignment.

Grading scheme

Final grade in the course would consist of following components

Individual assignment 10%

Group presentation 10%

Assessment tests 30%

End trimester Exam 50%

Total 100%

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COURSE OUTLINE

Sess.No. Unit Topics Reading Material

RISK MANAGEMENT

1 I Introduction to risk management Chapter 10- R2

2-3 IRisk, causes of risk, benefits of risk management,

risk management processChapter 1-R1, Chapter 10-R2

4-5 II Classification of risk Chapter 2 -R1, Chapter 10-R2

6-7 II Managing corporate risk Chapter 3-R1, Chapter 10-R2

8-9 II Enterprise risk management Chapter 10-R210-11 III Risk identification, analysis and assessment Chapter 2-R1, Chapter 10-R2

12-13 III Risk control and treatment Chapter 10-R2

14-15 III Risk response, risk transfer and retention Chapter 10-R2

INSURANCE

16,17 IV Meaning Principles of insurance Chapter 1-R2

18,19 IVFunctions of insurance , Procedures for taking

life, fire and marine policiesChapter 1-R2

20,21,22 IV Types of fire and marine policies Chapter 3&4-R2

23,24 IV Concept of double insurance and re-insurance Chapter 1-R2

25,26,27

&28V Insurance Accounting Chapter 8- R3

29, 30 Group presentation/Scheduled test

References

1. Kit Sasdgrove, The Complete Guide to Business Risk Management, Jaico Publishing

House, 2001.

2. Murthy. A, Principles and Practice of Insurance, Margham Publications, 2008.3. T.S. Reddy and Murthy. A, Financial Accounting, Margham Publications, 2008.

4. Alka Mittal, Gupta S.L. Principles of Insurance and Risk Management, Sultan Chand

and Sons, 2010.

5. James T.Gleason, Risk: The New Management Imperative in Finance, Jaico Publishing

House, 2004