AFF5031 - Principles of risk transfer

Offered

Caulfield Second semester 2009 (Evening)
Caulfield Second semester 2009 (Weekend On-campus)

Synopsis

This unit is designed to develop the concept of risk transfer, or the insurance purchase decision, as an outcome of risk management decision-making. It discusses the concept and application of insurance and the principals underlying the insurance purchase, with emphasis on the relationship to the risk management process.

Objectives

The learning goals associated with this unit are to:

• demonstrate an understanding of the risk transfer decision-making process and explain the concept of risk within an insurance framework
• outline the principles of risk allocation in non-insurance contracts
• explain the structure of the insurance industry and the functions of an insurance company
• outline the core concepts underlying the main insurance industry sectors of life, accident, health, property and liability
• discuss and comment on the implications of the growing convergence of the broader financial services industry.

Assessment

Within semester assessment: 50%
Examination (3 hours): 50%

Prerequisites

AFF9020