BUS 355 Principles of Risk and Insurance, 3 credits

This course focuses on the role of insurance in our economy, types of risk, management of risk, legal principles on which insurance contracts are based, basic components of an insurance contract, and insurance terminology. There is also an examination of various types of insurance coverage; life, homeowner, automobile, health and disability, and various forms of commercial insurance. The impact of governmental insurance programs on insurance coverage in the private sector is included. Government regulation of the insurance industry is covered as well as types of insurers, insurance pricing, and ratings systems for insurance firms.

Prerequisites: BUS 207 or BUS 206, BUS 352