Module Code - Title:
IN4418
-
RISK CONTROL AND UNDERWRITING
Year Last Offered:
2025/6
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
IN4015
Rationale and Purpose of the Module:
1. To develop in the student an understanding of and insight into underwriting.
2. To examine the nature of the interface between the corporate risk management function and the underwriting function within the insurance sector.
3. To introduce students to the theory and practice of underwriting and to acquaint students with the complex and rapidly changing environment within which risk managers operate.
Syllabus:
Acquire a comprehensive understanding of the underwriting process within the context of risk management.
Material damage insurance and risk control
Loss of Profits
Pecuniary insurance
Liability insurances
Loss reserve management
Principles of insurance pricing
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module students should be able to:
Design an appropriate programme of risk transfer using conventional insurance concepts.
Understand the key risk assessment features of a range of risks.
Examine the dynamics of non life insurer solvency.
Apply probability and statistical concepts to insurance pricing.
Understand the marketing and financing aspects of insurance products.
Be practiced in applying an underwriting analysis to a real world range of underwriting problems.
Affective (Attitudes and Values)
Appreciation of position of various stakeholders.
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
Actual underwriting situations and problems are examined and, therefore, the problem solving expertise of the student is enhanced.
Global initiatives, such as Solvency II, have been integrated into the course fabric; students are thus prepared for the professional demands of commercial underwriting and insurance programming.
Research Findings Incorporated in to the Syllabus (If Relevant):
Prime Texts:
R.L. Carter(editor) ()
Handbook of Insurance
, Kluwer
Other Relevant Texts:
M. McMahon ()
Course Notes (IN 4418)
,
Programme(s) in which this Module is Offered:
BBBSFRUFA - FRENCH
BBBUSTUFA - BUSINESS STUDIES
BBBSGEUFA - GERMAN
BBBSJAUFA - JAPANESE
CTAPBUUPA - Applied Business
HDBEFLTFA - Business and English as a Foreign Language (Pre Ma
Semester(s) Module is Offered:
Spring
Module Leader:
Aisling.owen@ul.ie