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RISK AND INSURANCE - DOC

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					PRINCIPLES OF INSURANCE RMI 3335 Bibb Graves 243 T TH 11:30-12:45 Instructor: Office: Phone: Office Hours: Textbook: Dr. Larry Fogelberg Bibb Graves 214 334-670-3153 T Th 1-2 pm, MWF 10-11:30 and 2-3. or by appointment Principles of Risk Management & Insurance, George E. Rejda, 8th Edition (Addison Wesley, 2003). Other course materials include copies of each student’s personal insurance contracts. This course is designed to introduce the student to the principles of risk management and insurance and to the application of those principles to personal risk management problems. Functional knowledge: To develop an understanding of the insurance mechanism, legal principles underlying insurance and the structure of insurance contracts. Skills: To develop the ability to read, understand, and analyze insurance contracts.  To develop the ability to analyze insurance companies with regard to product quality, financial stability and policyholder service.  To develop the ability to shop in an informed manner when buying insurance and to reduce insurance premiums by proven methods. Grading structure: Quiz 1 - 20% Quiz 2 - 20% Quiz 3 - 20% Quiz 4 - 20% Final - 20% 90% - 100% = A 80% - 89.999% = B 70% - 79.999% = C 60% - 69.999% = D BELOW 60% = F

Course Description:

Course Objectives:

There will be four quizzes given throughout the semester, at the end of each unit, and a final exam. The quizzes and the final will be given in a multiple-choice/True-False format. The final will be comprehensive. Class Policy: No makeup quizzes will be given. Neither will any of the quizzes or the final be given earlier or later than scheduled. Students

must take the final to pass the course. If a quiz is missed for a reasonable excuse such as illness, death in the family, or other emergency, the final exam will count 40% rather than 20%. In order to qualify for this provision, the student must notify the instructor, in writing, of the reason for missing the quiz. This should be done before the quiz or within 2 days after the quiz has been missed, otherwise, a zero will be given for the missed quiz. If more than one quiz is missed, a zero will be given for the other missed quizzes. Each student is responsible for the text material assigned on the syllabus, as well as all lecture material. Lecture attendance is required. Academic Dishonesty: Academic dishonesty will not be tolerated in this class. Any student witnessed cheating on any quiz or exam, whether receiving or giving information, will receive an 'F' in the class. In that regard, the student’s honor code is included below: Troy State University Students’ Honor Code “I will be honest in all of my academic work and strive to maintain academic integrity.” Americans With Disabilities Act (ADA): Any student whose disabilities fall within the ADA must inform Dr. Jordan at the beginning of the term of any special needs or equipment necessary to accomplish the requirements for this course. Students who have or may be dealing with a disability or learning difficulty should speak with the instructor, contact the Office of Adaptive Needs Program at 670–3221. Various accommodations are available through the Adaptive Needs Program.

Special Instructions

The address of the textbook’s companion website is www.aw.com/rejda . It is recommended that students take the self-administered quizzes on a regular basis.
Part I: Basic Concepts in Risk & Insurance; the Insurance Industry  Chapters 1, 2, 3, 25, 26 & lecture notes  Quiz 1 – Tentatively Thursday, September 15 Topics: Risk & Its Treatment; The Insurance Mechanism; Risk Management; The Insurance Industry; Insurance Company Operations Part II: The Law as It Applies to Insurance  Chapters 5, 7 & 6 & lecture notes

COURSE SCHEDULE:

 Quiz 2 – Tentatively Tuesday, October 14 Topics: Fundamental Legal Principles; Analysis of Insurance Contracts; The Liability Risk Last day to drop without academic penalty – Friday, October 17 Part III: Personal Risk Management: Property and Liability Insurance Contracts Section 1: Automobile Insurance  Chapters 10 & 11, Appendix B & lecture notes  Quiz 3 – Tentatively Thursday, October 29 Topics: Automobile insurance; Approaches for Compensating Auto Accident Victims; Auto Insurance for High-Risk Drivers; Cost of Auto Insurance Symposium: November 7 & 8 in Orange Beach, AL Section 2: Homeowners Insurance and Related Topics  Chapters 8, 9, 12, Appendix A &lecture notes  Quiz 4 – Tentatively Tuesday, November 22 Topics: Homeowners Policy: Section I - Property Insurance; Section II- Liability Insurance; Dwelling Program; Watercraft Insurance; Mobile homeowners Insurance; Government Insurance; Title Insurance Thanksgiving Break: November 23-November 27 Part IV: Regulation and Pricing  Chapters 27, 28 & lecture notes Topics: Objective of regulation; Areas of Regulation; State versus Federal Regulation; Ratemaking in P&C Insurance. Final Exam – Wednesday, December 7, 2 pm. ANY OTHER CANCELLATIONS WILL BE ANNOUNCED. GUEST SPEAKERS WILL BE ANNOUNCED.

THIS PAGE IS A CONTRACT BETWEEN YOU AND DR. FOGELBERG! Each student is required to sign the contract on this page and return it to the instructor by the second week of class. RMI 3335 CONTRACT

The syllabus for this RMI 3335 course has been written to assure that students of the class understand the instructor's policies regarding grading, missed quizzes, and academic dishonesty. My signature below indicates that I have read the provisions included in this syllabus, that I understand the provisions and will abide by them. _______________________________________________ SIGNATURE _______________________________________________ Today's Date Print your: Name: Social Security Number: Address: Telephone: Residence Work Email address:


				
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