Week |
Subject |
Related Preparation |
1) |
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|
1) |
• Introduce the course to the students
• Explain the major topics for the duration of the course
• Give examples about major topics
• Describe best practices for Risk & Insurance
• Explain the concept of Risk and Insurance
• Syllabus
• Discuss Course Outline,
• Instruction methodology
• Basics on Risk
• Basics on Insurance
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|
2) |
• Definition of Risks,
• Types of Risks
• Reasons for need of Risk Management
• Identifying Threats
• Possibility of Occurance
• Introduction to Risk Management
• Identifying Possibility of Occurance of Risks
• Reviewing the risks of operations in an organization
• Risk Management approaches
• Conducting Risk Management in an organization
|
Review the Syllabus
Homework: assigned reading for next class session
Read Rejda and McNamara (2014) Chapter I pp. 1-19.
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3) |
• Risk Planning
• Strategies for Risk Management
• Strategies for Risk Management
• Case Study – Analysis of a Real Risk Plan
• Assessing vulnerability to various threats
• Determining the risk ( i.e. the expected consequences of specific types of attacks on specific assets )
• Choosing ways to reduce identified risks
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Homework: Assign reading for next class session
Read Rejda and McNamara (2014) Chapter II, pp. 19-39.
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4) |
• Risk Analysis
• Principles of Risk Management
• Identifying risks ( Steel Industry )
• Suggesting Risk Management Strategies
- Create value.
- Be an integral part of organizational processes.
- Be part of decision making.
- Explicitly address uncertainty.
- Be systematic and structured.
- Be based on the best available information.
- Be tailored.
- Take into account human factors.
- Be transparent and inclusive.
- Be dynamic, iterative and responsive to change.
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Homework: assign reading for next class session
Read Rejda and McNamara (2014) Chapter III, pp. 43-61.
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5) |
• Risk Handling
• How to handle various risks while running business
1. Identification of risk in a selected domain of interest
2. Planning the remainder of the process.
3. Mapping out the following:
o the social scope of risk management
o the identity and objectives of stakeholders
o the basis upon which risks will be evaluated, constraints.
4. Defining a framework for the activity and an agenda for identification.
5. Developing an analysis of risks involved in the process.
6. Mitigation of risks using available technological, human and organizational resources
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Homework: assign reading for next class session
Read Rejda and McNamara (2014) Chapter IV, pp. 62-84.
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6) |
• Risk Monitoring
• Discussion of topics for Risk Monitoring
- Avoidance (eliminate, withdraw from or not become involved)
- Reduction (optimise - mitigate)
- Sharing (transfer - outsource or insure)
- Retention (accept and budget)
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Homework: assigned reading for next class session
Assign mid-term paper topics to students.
Team members will be selected for presentations
There will be 2 types of class presentations 1) Papers About Risk 2) Papers About Insurance
|
7) |
• Presentations on Risk ( I )
• Determined during lectures
|
No Assignment – Complete your presentations |
8) |
• Presentations on Risk ( II )
• Determined during lectures
|
Summarize what have been discussed |
9) |
• Introduction to Insurance
• Insurance Concept
• Insurance Concept,
• Role of Insurance in Risk Management
• The dynamics of Insurance
• Protection from risks through insurance
• Ways of protection from risks
|
Summarize what have been discussed |
10) |
• The Insurance Industry
• Legal Framework and Regulations
• Generally accepted ethical codes in insurance industry
• Basic Information about Insurance Industry
• Legal and ethical framework
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Homework: assign reading for next class session.
Read Rejda and McNamara (2014) Chapter V, pp. 86-102.
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11) |
• Functions of Insurers and Financial Aspects of Insurance
• Review and discuss domestic and international schemes
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Homework: assign reading for next class session
Read Rejda and McNamara (2014) Chapter VI, pp. 103-112.
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12) |
• Most Common Insurance Avenues
• Social Insurance Programs,
• Life Insurance,
• Car & Property Insurance,
• Liability Insurance
• Business Insurance and
• other insurance types
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Homework: assign reading for next class session
Read Rejda and McNamara (2014) Chapter VII, pp. 123-139.
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13) |
• Student Presentations on Insurance ( I )
• Assigned During Lectures
|
Get ready for presentations |
14) |
• Student Presentations on Insurance ( II )
• Assigned During Lectures
|
Summarize what have been discussed |
15) |
• Final Exam
Asses learning level of the students
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Summarize what have been discussed |