ESF:MKF_RRVP Risk management in insurance - Course Information

MKF_RRVP Risk management in insurance

Extent and Intensity

0/0. 4 credit(s). Type of Completion: zk (examination).

Teacher(s)

Oleg Deev, Ph.D. (lecturer)
Ing. Svatopluk Nečas, Ph.D. (lecturer)

Guaranteed by

Ing. Svatopluk Nečas, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration

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

• Finance (programme ESF, N-FU)

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, risk definition and classification of risks, relation between 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. Insured property valuation. 7. Insured property valuation, 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

recommended literature
• ŘEZÁČ, František. Řízení rizik v pojišťovnictví. Vyd. 1. Brno: Masarykova univerzita. Ekonomicko-správní fakulta, 2011, 222 s. ISBN 9788021056374. URL 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
• TICHÝ, Milík. Ovládání rizika : analýza a management. Vyd. 1. Praha: C.H. Beck, 2006, xxvi, 396. ISBN 8071794155. info
• 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
• DAŇHEL, Jaroslav. Pojistná teorie. Vyd. 1. Praha: Professional Publishing, 2005, 332 s. ISBN 8086419843. info

not specified
• DOFF, René. Risk management for insurers : risk control, economic capital and solvency II. 2nd ed. London: Riskbooks, 2011, xi, 322. ISBN 9781906348618. info
• KRIELE, Marcus and Jochen WOLF. Value-oriented risk management of insurance companies. London: Springer, 2014, xii, 378. ISBN 9781447163046. info
• MARTINOVIČOVÁ, Dana. Pojištění podnikatelských subjektů. Vyd. 1. Ostrava: Key Publishing, 2007, 236 s. ISBN 9788087071083. info

Teaching methods

Tutorials.

Assessment methods

The tutorials are composed of four blocks of 3 hours with the content corresponding to the lecture 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.
The course is taught: in blocks.
Note related to how often the course is taught: 12 hodin.
Information on the extent and intensity of the course: 12 hodin.
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.

Listed among pre-requisites of other courses

• MKF_RRFI Risk management of financial institutions
  (((MKF_FIDE) && (!MKF_RRVP)) && SOUHLAS)  

• Enrolment Statistics (Autumn 2014, recent)
  
• Permalink: https://is.muni.cz/course/econ/autumn2014/MKF_RRVP