MPF_RRVP Risk management in insurance

Faculty of Economics and Administration
Autumn 2013
Extent and Intensity
2/0/0. 4 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. František Řezáč, Ph.D. (lecturer)
Ing. Svatopluk Nečas, Ph.D. (assistant)
Guaranteed by
Ing. František Řezáč, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Fri 7:40–9:15 P403
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The course it aims to acquaint students with the classification of risks and ways of reducing risks with an emphasis on the financial risk coverage via insurance. A significant attention is devoted to explain the methodology of risk management with specifications of both own and extraneous risk management. Using the determination of insured value of an insured object and its evaluation, students will be familiar with model examples of the insurance protection treatment among selected subjects including the ways of object securing against theft and burglary. The tutorial aims at students’ knowledge expansion by findings in the area of risk management particularly through the commercial insurance. It learns the basic procedures in the risk description and its assessment, which should result in proposing an adequate insurance protection for the sake of unforeseen insurance event. Students can gain skills in determining the value of an insured object and also the ability to be familiar with the basic types of insurance risks and the extent of insurance coverage, as it will be discussed by going through the model examples of the practice.
Syllabus
  • Lecture (tutorial) topics: 1. Insurance and risk. 2. Ways of risk reduction. Methods of risk measurement. 3. Financial risk coverage by insurance, advantages and disadvantages of the financial risk coverage by insurance, insurance needs and insurance interests. 4. Risk management, methodology of risk management, familiarization with risk and risk assessment. 5. Management of risks in the insurance company. 6. Valuation of the property insured. 7. Valuation of the property insured, calculation methods and examples. 8. Model examples of selected civil insurances with an emphasis on risk analysis. 9. Model examples of a selected insurance company (private property). Risk report. 10. Model examples of protection against fire risk, floods and flooding. 11. Management of risks in the insurance company with an emphasis on financial market business risks. 12. Management of risks in the insurance company with an emphasis on insurance activity risks (insurance setting, insurance administration and settlement of claims). 13. Management of risks in the insurance company with an emphasis on operational risk (the role of human factor, processes and system failures).
Literature
    required literature
  • ŘEZÁČ, František. Řízení rizik v pojišťovnictví. Vyd. 1. Brno: Masarykova univerzita. Ekonomicko-správní fakulta, 2011, 222 s. ISBN 9788021056374. URL info
    recommended literature
  • ŘEZÁČ, František, Gabriela OŠKRDALOVÁ, Martin ŘEZÁČ, Miroslava ŠIKULOVÁ and Petr VALOUCH. Marketingové řízení komerční pojišťovny (Marketing management of insurace company). 1. vyd. Brno: Masarykova univerzita, Tisk: BonnyPress, 2009, 210 pp. ISBN 978-80-210-4799-0. info
  • SMEJKAL, Vladimír. Řízení rizik ve firmách a jiných organizacích. Edited by Karel Rais. 3., rozš. a aktualiz. vyd. Praha: Grada, 2010, 354 s. ISBN 9788024730516. URL info
  • MAJTÁNOVÁ, Anna. Pojišťovnictví :teorie a praxe. 1. vyd. Praha: Ekopress, 2006, 288 s. ISBN 8086929191. info
  • JÍLEK, Josef. Finanční rizika. 1. vyd. Praha: Grada, 2000, 635 s. ISBN 8071695793. info
  • UYEMURA, Dennis G. and Donald R. van DEVENTER. Financial risk management in banking : the theory & application of asset & liability management. New York: McGraw-Hill, 1993, xviii, 361. ISBN 1557383537. info
  • Theory of financial risks, from statistical physics to risk management. Cambridge: Cambridge universitz press, 2000, 116 pp. ISBN 0521782325. info
  • CHEVALIER, Alain and Georges HIRSCH. Rizika podnikání. Translated by Jan Eichler. Praha: Victoria Publishing, 1994, 137 s. : t. ISBN 80-85865-05-X. info
  • TICHÝ, Milík. Ovládání rizika : analýza a management. Vyd. 1. Praha: C.H. Beck, 2006, xxvi, 396. ISBN 8071794155. info
Teaching methods
Lectures.
Assessment methods
Lectures proceed contentually in accordance with the mentioned topics range. The course is finished by a written test. In order to pass the final test, reaching at least 60 % is required. Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination.
Language of instruction
Czech
Further comments (probably available only in Czech)
Study Materials
The course is taught annually.
Credit evaluation note: k = 1.
Information about innovation of course.
This course has been innovated under the project "Inovace studia ekonomických disciplín v souladu s požadavky znalostní ekonomiky (CZ.1.07/2.2.00/28.0227)" which is cofinanced by the European Social Fond and the national budget of the Czech Republic.

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Listed among pre-requisites of other courses
The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020.
  • Enrolment Statistics (Autumn 2013, recent)
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