DETAILED SYLLABUSInternational Insurances

1. Information about the study program

1.1 University Babes-Bolyai University, Cluj-Napoca1.2 Faculty FSEGA1.3 Department Finante1.4 Field of study Economics and international business1.5 Program level (bachelor or master) Bachelor

1.6 Study program / Qualification Economics and international business –english line

2. Information about the subject

2.1 Subject title International insurances

2.2 Course activities professor PhD Associate Professor Dragos Simona Laura

2.3 Seminar activities professor PhD Associate Professor Dragos Simona Laura

2.4 Year of study II 2.5 Semester IV 2.6 Type of assessment Colloquium 2.7 Subject regime Optional

3. Total estimated time (teaching hours per semester)

3.1 Number of hours per week 3 3.2 out of which: course 2 3.3 seminar/laboratory 13.4 Total number of hours in the curriculum 42 out of which: 3.5 course 28 3.6 seminar/laboratory 14

Time distribution oreStudy based on textbook, course support, references and notes 9Supplementary documentation in the library, electronic platforms 9Seminar/ laboratory preparation, homework, essays, portfolios 10Mentoring 2Examinations 3Other activities................................... -3.7 Total hours individual study 333.8 Total hours per semester 753.9 Number of credits 3

4. Preconditions (if necessary)

4.1 Curriculum Not necessary4.2 Skills Not necessary

5. Conditions (if necessary)

NOTE: This document represents an informal translation performed by the faculty.

Facultatea de Științe Economice și Gestiunea AfacerilorStr. Teodor Mihali nr. 58-60

Cluj-Napoca, RO-400951Tel.: 0264-41.86.52-5

Fax: 0264-41.25.70econ@econ.ubbcluj.ro

www.econ.ubbcluj.ro

Departamentul de FinanțeStr. Teodor Mihali nr. 58-60

Cluj-Napoca, RO-400951Tel.: 0264-41.86.52-5

Fax: 0264-41.25.70econ@econ.ubbcluj.ro

www.econ.ubbcluj.ro

5.1. For course development

Protecting intellectual property of the course professor over the syllabus and of all supplementary materials;Existence of video projectorInterdiction of any kind of fraud through plagiarism, which is approbated according to operating legislation and internal rules (Etic Code).

5.2. For seminar / laboratory development

The term of presentation for the seminar project is established by the seminar professorin consent with students. Delays are accepted only for solid arguments.

6. Acquired specific competences

Professional competences

• Identification and definition of the financial concepts, theories and instruments in the public and private organizations

• Ability to understand key concepts of insurance, the use and limitations of insurance, and the principles and practices employed in insurance markets.

• Applying specific procedures for financial supervision.• Developing the skills to analyze an insurance contract, to propose an insurance subscription as

an insurance agent or broker.• Dealing with the main aspects regarding how principal rating procedures are applied to lines of

insurance.Transversal competences

• Applying the principles and the professional ethics within a rigorous, efficient and responsible labor strategy.

• Identifying the roles and responsibilities within a specialized team and applying techniques of efficient work in the team.

• Identifying the opportunities of continuous formation and efficient valorization of learning techniques and resources for self-development.

• Knowledge, understanding, analysis and use of concepts, theories and fundamental methods for investigation and prospection, specific to the market economy.

7. Subject objectives (arising from the acquired specific competences)

7.1 Subject’s general objective Assimilation of theoretical, methodological and practical knowledge regarding insurances.

7.2 Specific objectives Knowledge and understanding of the nature of insurance, risk transfer concepts, characteristics of insurable risks

Familiarization with the structure of the insurance marketplace, self-insurance, captives, market organizations, regulation

Understand the insurance pricing, physical and moral hazard, and the role of the underwriter, broker and surveyor Develop an consciousness of the corporate demand for insurance under

adverse selection and moral hazard and its relation to profit smoothing, avoidance of bankruptcy and the monitoring role of insurance

8. Contents

8.1 Course Teaching methods Observations

General aspects concerning insurances, technical elements of insurancesExposition, theoretical and open discussions

2 expositions

Insurance market: participants and characteristicsExposition, theoretical and open discussions

2 expositions

Presentation and analysing the insurance products: life insurancesExposition, theoretical and open discussions

3 expositions

Maritime insurances and cargo insurances during extraneous transportation

Exposition, theoretical and open discussions

2 expositions

NOTE: This document represents an informal translation performed by the faculty.

Motor Third Part Liability Insurance – Green Card componentExposition, theoretical and open discussions

2 expositions

Medical travel insuranceExposition, theoretical and open discussions

1 exposition

Political and financial risk insuranceExposition, theoretical and open discussions

2 expositions

References:1. Alexandru F, Armeanu D., Asigurări de bunuri si persoane. Aspecte teoretice. Aplicatii practice. Ed.

Economica, Bucureşti, 2003.2. Baranoff E. (2004), Risk Management and Insurance, John Wiley and Sons3. Bistriceanu, Gh., Asigurări şi Reasigurări în România, Editura Universitară Bucureşti, 2006.4. Ciumaş, C., Asigurări Generale, Ed. Casa Cărţii de Ştiinţă, Cluj-Napoca, 2007.5. Ciumaş, C., Studiu privind arhitectura şi problematica pieţei internaţionalede asigurare, Editura

Intelcredo, Deva, 20016. Ciumas C., Dragos S., Aplicatii practice in asigurari generale si de viata, Editura Todesco, 2011.7. Ciurel, V., Asigurări şi Reasigurări: Abordări Teoretice şi Practici Internaţionale, Ed. All Beck,

Bucureşti, 2000.8. Constantinescu, D., Ag., Asigurări şi Reasigurări, Ed. Tehnică, Bucureşti, 1998.9. Iliescu, C., Contractul de asigurare de bunuri în România, Ed. All Beck, Bucureşti, 1999.

10. Negru, T., Asigurări – Ghid practic, Editura C.H. Beck, Bucureşti, 2006.11. Văcărel, Il., Bercea, Fl., Asigurări şi Reasigurări, Ed. Marketer-Expert, Bucureşti, 1998.

8.2 Seminar/laboratory Teaching methods Observations

Insurance concept, insurance functions, insurance classification Analysing and explaining specific concepts

1 seminar

Comparative study for covering systems in property liability insurances. Types of deductibles – case studies.

Case studies and applications by students participation

2 seminars

Comparative study for insurance intermediaries – modern distribution channels of insurance products.

Case studies and applications by students participation

1 seminar

Case study – Cargo insurance during extraneous transportationInsurance premium – pricing factorsGeneral average in marine insurance

Case studies and applications by students participation

1 seminar

Presentation of collective projects Elaboration and presentation of essays

2 seminars

References:1. Alexandru F, Armeanu D., Asigurări de bunuri si persoane. Aspecte teoretice. Aplicatii

practice. Ed. Economica, Bucureşti, 2003.2. Baranoff E. (2004), Risk Management and Insurance, John Wiley and Sons3. Bistriceanu, Gh., Asigurări şi Reasigurări în România, Editura Universitară Bucureşti,

2006.4. Ciumaş, C., Asigurări Generale, Ed. Casa Cărţii de Ştiinţă, Cluj-Napoca, 2007.5. Ciumaş, C., Studiu privind arhitectura şi problematica pieţei internaţionalede asigurare,

Editura Intelcredo, Deva, 20016. Ciumas C., Dragos S., Aplicatii practice in asigurari generale si de viata, Editura

Todesco, 2011.7. Ciurel, V., Asigurări şi Reasigurări: Abordări Teoretice şi Practici Internaţionale, Ed. All

Beck, Bucureşti, 2000.8. Constantinescu, D., Ag., Asigurări şi Reasigurări, Ed. Tehnică, Bucureşti, 1998.9. Iliescu, C., Contractul de asigurare de bunuri în România, Ed. All Beck, Bucureşti, 1999.

10. Negru, T., Asigurări – Ghid practic, Editura C.H. Beck, Bucureşti, 2006.11. Văcărel, Il., Bercea, Fl., Asigurări şi Reasigurări, Ed. Marketer-Expert, Bucureşti, 1998.

9. Corroboration / validation of the subject’s content in relation to the expectations coming from representatives of the epistemic community, of the professional associations and of the representative

NOTE: This document represents an informal translation performed by the faculty.

employers in the program’s field.

The subject matter content comes as an answer to the necessity of acquiring insurance knowledge for the graduates of the finance and banking specialty. The Insurance subject matter follows to provide an homogeneous qualification, accordingly to the requirements of the assurer profession.

10. Assessment (examination)

Type of activity 10.1 Assessment criteria 10.2 Assessment methods 10.3 Weight in the final grade

10.4 Course Explaining some basic concepts: risk sharing, pooling of risks, law of large numbers, aleatory contract, reinsurance, individual and collective insurances.

Written exam based on open questions, multiple choices and applications 70%

Understanding the Bonus-Malus clause, the principle of equivalence, the indemnity systems, the computation of the net premium.Analysing the implications of globalization over financial insurances (credit, mortgages).Knowing legal aspects of insurance companies, insurance agents or brokers and the characteristics of the insurance market

10.5 Seminar/laboratory

Understanding of the problems discusses in course;

1. Achieving and presentation of a project 20%;2. Active participation during the seminars 10%;

30%

Ability to solve the case studies;

Knowledge of insurance pricing;

In order to realize the project it is necessary to review the references.

10.6 Minimum performance standard• It is necessary to obtain a minimum grade of 5 (five) in order to pass this subject;• The grades being granted are between 1 (one) and 10 (ten);• Students must approach each element (question, problem) within the exam sheet;• The exam is written and takes approximately 120 minutes;• Students must be able to understand key concepts of insurance, to develop individual knowledge of how

principal rating procedures are applied to lines of insurance, to understand the practice of insurance and its role in risk management.

Date of filling Signature of the course professor Signature of the seminar professor 02.03.2017 PhD. Assoc. prof. Simona DRAGOS PhD. Assoc. prof. Simona DRAGOS

Date of approval by the department Head of department’s signature09.03.2017 PhD. Professor Cristina CIUMAS

NOTE: This document represents an informal translation performed by the faculty.