BA4218 Risk Management and InsuranceBahçeşehir UniversityDegree Programs BUSINESS ADMINISTRATIONGeneral Information For StudentsDiploma SupplementErasmus Policy StatementNational QualificationsBologna Commission
BUSINESS ADMINISTRATION
Bachelor TR-NQF-HE: Level 6 QF-EHEA: First Cycle EQF-LLL: Level 6

Course Introduction and Application Information

Course Code Course Name Semester Theoretical Practical Credit ECTS
BA4218 Risk Management and Insurance Fall
Spring
3 0 3 6
This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester.

Basic information

Language of instruction: English
Type of course: Departmental Elective
Course Level: Bachelor’s Degree (First Cycle)
Mode of Delivery: Face to face
Course Coordinator : Prof. Dr. ELİF OKAN
Course Lecturer(s): Instructor SELDA EKE
Recommended Optional Program Components: none
Course Objectives: Companies attached a great significance to risk management in recent years due to increasing uncertainty attributable to the recent changes in financial markets and in economies. The types of risks have flourished and nature of them has changed affecting the business outcome of the companies significantly. Due to serious impact of risk on companies , individuals and society risk management became a top priority for the top management of companies which aim to have a sustainable growth in their business . Insurance is one of the risk management tools for companies . Companies use it to transfer certain risks to insurance companies . Therefore, monitoring the developments in the insurance markets closely is a necessity for the companies.

This course provides the conceptual framework for risk management while emphasizing the role of insurance as a risk management tool for companies. The general concepts and institutional features of insurance is explained. The students will be able to identify the risks and will be able to assess the impact of risk on businesses and individuals. They will understand the relationship between risk , risk management and insurance through real time case studies.

Learning Outcomes

The students who have succeeded in this course;
Students acquire an understanding about the concept of risk and uncertainty. They become knowledgeable about the impact of risk, cost of risk, types of risks, insurable risks, and enterprise risks. Students gain a grip on the subjects such as evolution of risk management, risk management process, insurance techniques, and risk management in insurance companies.

Course Content

This course provide information on insurance industry and risk management along with detailed techniques in insurance and types of insurance.

Weekly Detailed Course Contents

Week Subject Related Preparation
1) Introduction : The explanation of the syllabus Overview of risks surrounding companies and individuals, the changing nature of risk
2) The concept of risk : Definition of risk & uncertainty, impact of risk , cost of risk, risk classifications (exercises, mini case studies).
3) Enterprise risks , financial risks and non financial risks (exercises and mini case studies).
4) Evolution of risk management : The definition of risk management, the transition to Enterprise Risk Management , objectives of risk management, benefits of risk management
5) Risk Management Process :Steps in risk management (exercises and mini- case studies )
6) Risk Management Process :Steps in risk management ( cont) (exercises and mini- case studies )
7) Risk governance , corporate governance and risk management ; strategy and risk management (Discussion and mini cases )
8) Midterm Exam
9) Insurance : Insurance as a risk management tool, definition of insurance,the parties in an insurance contract, the benefits of insurance
10) Insurance techniques :The principles of insurance , basic concepts of insurance distribution channel of insurance companies, the concept of reinsurance, insurance industry, the main organizations and associations
11) Risk management in insurance companies : Functions of insurance companies, financial statements of insurance companies Types of insurance I : Non-life insurance types Minicases
12) Types of insurance II : Life insurance types
13) Student project presentations
14) Student project presentations

Sources

Course Notes / Textbooks: Principle of Risk Management and Insurance : George E.Rejda, Michael Mc.Namara ( in the library )
Fundamentals of Risk Management, Paul Hopkins, Kogan Page ( in the library )

References: Supplementary books:
Enterprise Risk Management , A Common Framework for the Entire Organization, Philip E.J.Green
Implementing Enterprise Risk Management , Case Studies and Best Practices, John Fraser, Betty Simkins , Kristina Narvaez ( in the library )
Enterprise Risk Management, Practical Applications, Steven M. Bragg ( in the library )

Evaluation System

Semester Requirements Number of Activities Level of Contribution
Attendance 14 % 5
Quizzes 2 % 10
Project 1 % 20
Midterms 1 % 25
Final 1 % 40
Total % 100
PERCENTAGE OF SEMESTER WORK % 40
PERCENTAGE OF FINAL WORK % 60
Total % 100

ECTS / Workload Table

Activities Number of Activities Duration (Hours) Workload
Course Hours 14 3 42
Study Hours Out of Class 14 5 70
Project 1 30 30
Quizzes 2 2 4
Midterms 1 3 3
Final 1 3 3
Total Workload 152

Contribution of Learning Outcomes to Programme Outcomes

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) Being able to identify problems and ask right questions
2) Having problem solving skills and developing necessary analytical attitude
3) Comprehending theoretical arguments along with counter arguments in detail
4) Gaining awareness of lifelong learning and being qualified for pursuing graduate education
5) Applying theoretical concepts in project planning
6) Communicating efficiently by accepting differences and carrying out compatible teamwork
7) Increasing efficiency rate in business environment
8) Developing innovative and creative solutions in face of uncertainty
9) Researching to gather information for understanding current threats and opportunities in business
10) Being aware of the effects of globalization on society and business while deciding
11) Possessing digital competence and utilizing necessary technology
12) Communicating in at least one foreign language in academic and daily life
13) Possessing managing skills and competence
14) Deciding with the awareness of the legal and ethical consequences of business operations
15) Expressing opinions that are built through critical thinking process in business and academic environment