Wartburg College

Syllabus

Fall 2007

BA 365: Principles of Risk Management Insurance

Monday, Room 215 at 6:30 – 9:00 p.m.

Jon Tehven, CLU, LUTCF

email: tehven@msn.com

phone: 319-352-1890 (Office)

319-352-6094 (Home)

Office hours by appointment

Course Overview

This course is designed to introduce students to the principles of risk management and insurance. Students will become familiar with the basic concepts of risk and insurance, introductory and advanced topics in risk management, legal principles, property and liability insurance, life and health insurance, employee benefits, social insurance, and functional and financial operations of insurers.

Required Text

Principles of Risk Management and Insurance, 10^th Edition, by George E. Rejda

Course Requirements

There are 6 unit exams worth a total of 330 points and a research paper/report worth 150 points for a total of 480 points. Variable: 20 points for class participation.

Grading Scale

94 - 100% = A 89% - 87% = B+

93% - 90% = A- 86% - 83% = B

82% - 80% = B-

79% - 78% = C+ 69% - 68% = D+

77% - 73% = C 67% - 63% = D

72% - 70% = C- 62% - 60% = D-

0% - 59% = F

Research Paper (100 points) due after your Oral Presentation

You will write a research paper related to risk management and insurance. Guidelines are:

• No longer than 5 pages typed
• Top right of front page: Your name and date paper submitted
• #12 font, either Times New Roman or Arial
• Spacing of 1.5
• No fewer than 4 cited sources (internet, reference, or interview)
• Bibliography

You may select your topic; however, here are a few to consider:

• Off-shore ownership of US insurance companies: is there a danger?
• Natural disasters and insurance
• Insurance fraud: what it is costing the consumer
• Cooking the Books: Enron, Global Crossing, and others and what it cost the employees and taxpayers
• Corporate Pensions: A thing of the past?
• The Uninsured: What does it cost those that are insured?
• Social Security: to privatize or not to privatize?
• Employee Benefit Plans: Here today, gone tomorrow or already?
• Future of health care in the US
• Sub Prime housing debacle: who loses and how much?

Your topic sentence and points you are to cover must be approved by the instructor.

Instructor’s note: A well-written paper takes minutes to read and evaluate; a poorly-written paper takes forever!

Oral Presentation (50 Points) will begin November 5. The order of presentation will be by lottery.

• Reports will be no longer than 5 minutes
• Use visual aids as needed

Extra Credit may be assigned at the discretion of the instructor and/or at the request of a student.

About the Instructor

Education: Wartburg College, BA; University of Northern Iowa, graduate studies

Industry Degrees: Charter Life Underwriter, Life Underwriter Training Course Fellow

Career: High School English Teacher, Insurance Sales Representative, Manager of Field Training

Current: Representing Self Management Group as a consultant

Principles of Risk Management and Insurance

Session 1: September 10, 2007

Chapter 1: Risk in Our Society

Chapter 2: Insurance and Risk

Session 2: September 17, 2007

Chapter 3: Introduction to Risk Management

Chapter 4: Advanced Topics in Risk Management

Session 3: September 24, 2007

Exam over Chapters 1 – 4

40 points objective; 10 points subjective

Chapter 5: Types of Insurers and Marketing Systems

Chapter 6: Insurance Company Operations

Research topics turned in

Session 4: October 1, 2007

Chapter 7: Financial Operations of Insurers

Chapter 8: Government Regulation of Insurance

Session 5: October 8, 2007

Exam over Chapters 5 – 8

40 points objective; 10 points subjective

Chapter 9: Fundamental Legal Principles

Chapter 10: Analysis of Insurance Contracts

Session 6: October 15, 2007

Exam over Chapters 9 – 10

20 points objective; 10 points subjective

Chapter 11: Life Insurance

Chapter 12: Life Insurance Contractual Provisions

Session 7: October 22, 2007

Chapter 13: Buying Life Insurance

Chapter 14: Annuities and Individual Retirement Accounts

Chapter15: Individual Health Insurance Coverage

Session 8: October 29, 2007

Chapter 16: Employee Benefits: Group Life and Health Insurance

Chapter 17: Employee Benefits: Retirement Plans

Chapter 18: Social Insurance

Session 9: November 5, 2007

Exam over Chapters 11 – 18

80 points objective; 20 points subjective

Oral Report begin

Chapter 19: The Liability Risk

Session 10: November 12, 2007

Chapter 20: Homeowners Insurance, Section 1

Chapter 21: Homeowners Insurance, Section 2

Session 11: November 19, 2007

Chapter 22: Auto Insurance

Chapter 23: Auto Insurance and Society

Session 12: November 26, 2007

Exam over Chapters 19 – 23

40 points objective; 10 points subjective

Chapter 24: Other Property and Liability Insurance Coverage

Chapter 27: Crime Insurance and Surety Bonds

Session 13: December 3, 2007

Chapter 25: Commercial Property Insurance

Chapter 26: Commercial Liability Insurance

Final Exam: Week of December 10, 2007

Exam over Chapters 24 – 27

40 points objective; 10 points subjective

Wartburg Honor Code

"As a matter of personal commitment, students, faculty, and staff of Wartburg College are expected to demonstrate four simple principles:

1)  All submitted work must be your own.

2)  When using the work or ideas of others, including fellow students, provide full credit through accurate citations.

3)  Ask for clarification if there is uncertainty about citation rules on a particular assignment."

The Honor Council asks that you familiarize yourself with the Honor Code and include its message in your syllabi to remind students of their responsibility to the Honor Code before each exam.

Also, the following recommendation from the Wartburg Affirmative Action Committee, Student Senate encourages faculty to include the following statement in their syllabi:

 The Americans with Disabilities Act of 1990 (ADA) provides protection from illegal discrimination for qualified individuals with disabilities.  Students requesting instructional accommodations due to disabilities must arrange for such accommodations by contacting the Dean of Students at the Student Life office, Saemann Student Center 195, 352-8260.  Accommodation should be requested PRIOR to affected assignment due dates.