LAW536

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Insurance may be the most all pervasive industry in our country today. Virtually all property, products, and services both tangible and intangible are insured or insurable. Buying insurance is one of the ways we manage our personal risks.

Mortgagors will not lend on any property without insurance. You cannot nor would you want to drive a car, see a doctor or use other products without insurance. As a consumer, managing your personal risk, you want the manufacturers of products you buy and services you consume to be insured. Validating the existence of this third party insurance is another way we manage our exposure to risk.

In this course, you will learn how personal and business risk is managed. You will come to understand the structure of property and casualty insurance policies; their components and limitations; how these policies are interpreted and claims are processed and handled. We will look at the economics of insurance and risk sharing as well as underwriting and claim handling.

The goal of this course, is to allow students to appreciate the value of risk management in their daily lives. We will have an overview of different insurances and the role it plays in managing risk and loss prevention.

Graduate students will work on and submit a project paper analyzing exposures and risk management strategies for specific enterprises or properties. (In furtherance of this work, students will be required to consult with applicable professionals and use on-site inspections to identify risks and exposures in the applicable enterprises or properties.)

GRD - Regular Plus/Minus Grades A, B, C, D, E

Law

Law 402/502A or B is recommended but not required.

LAW436