2021-2022 Undergraduate Catalog
7210 Department of Risk Management and Insurance
- B.B.A. in Actuarial Science
- Minor in Actuarial Science
- B.B.A. in Risk Management and Insurance (Insurance Track and Quantitative Risk Management Track)
- Minor in Risk Management and Insurance
- Minor in Business Law
11th floor, Robinson College of Business Building
Stephen Shore, Chair
Faculty: Akcin, Amini, Annan, Binder, del Valle, Fung, Green, Grelecki, Harrison, Lucke, Orfanos, Peng, Phillips, Sherman, Shore, Subramanian, Thielman, Varadarajan, Weston, Willey
The Department of Risk Management and Insurance is an interdisciplinary academic unit. It offers undergraduate majors in actuarial science and in risk management and insurance, together with courses in the areas of legal studies and personal financial planning.
7220 Actuarial Science
Stefanos Orfanos, Faculty Advisor
Actuaries have been called financial architects and social mathematicians because of their unique blend of analytical and business skills in the insurance and financial services industry, as consultants in firms that specialize in employee benefits and pensions, in the government sector, and in a variety of other roles. The job of an actuary has routinely been ranked by publications such as Forbes, Business Week and CNCB as one of the ten highest-paying jobs in the U.S. A career as an actuary is also touted as one of the most satisfying careers in terms of the “work-life” balance.
To be recognized as a qualified actuary, a person should become a member of the Society of Actuaries or the Casualty Actuarial Society. Admission to membership is obtained by passing a series of examinations given by the societies. The actuarial science program at Georgia State University is structured so that students are well prepared to pass these examinations at the completion of the program and, thereby, be extremely competitive on the job market. The tremendous demand for such highly trained persons makes a career in this area very rewarding financially and in providing the satisfaction that comes from membership in a well-recognized profession. In order to meet the critical shortage of actuarial personnel in this region, the Southeastern Actuaries Club endorsed the establishment of the actuarial program at Georgia State University as part of the university’s comprehensive insurance educational activity. The program continues to have the strong support of the actuarial profession. Inquiries concerning the actuarial profession or the details of the program at Georgia State University should be directed to the department.
7220.10 Program Admission
There are no admission requirements specific to the Actuarial Science program. However, Actuarial Science students are required to meet all University and College admission requirements.
7220.20 Program Financial Information
There are no special fees associated with majoring in Actuarial Science. However, Actuarial Science majors must pay all tuition and fees charged by the University and the College.
7230 Legal Studies
The Legal Studies Courses offered through the Department of Risk Management and Insurance afford a base for scholarship and teaching at the intersection of law and business. Legal Studies courses provide nonprofessional legal education open to business students in both the J. Mack Robinson College Business and those in the broader university community.
Students can receive a minor in Business Law that emphasizes legal transactions and risk. Doing so provides non-major students the opportunity to examine legal approaches to the management of risk exposures in corporate and personal settings. All business majors may find the minor attractive but specific majors that should find the minor especially attractive include accounting and managerial sciences, economics, political science, and pre-law students
7240 Risk Management and Insurance
Harold Weston, Adviser
The program in Risk Management and Insurance strives to prepare qualified and motivated students for positions of leadership and responsibility in risk management, insurance, and other financial services businesses. The Bachelors of Business Administration in Risk Management and Insurance emphasizes problem-solving, critical thinking for decision making uncertainty, risk assessment, and risk finance through insurance. With an estimated 400,000 insurance and risk jobs opening in the next 10 years due to retirements in the workforce, an RMI graduate will find many entry-level positions and quick climbs up the levels of responsibility.
The major has two tracks of study. The insurance track is for those who desire to work in the insurance industry or in risk management in general. The required courses introduce students to the business of insurance and corporate risk management. Elective courses can allow a student a degree of specialization in property and liability insurance, or risk management, or other related specialties. Graduates of this track find employment as brokers/agents providing professional risk management counseling and market placement services for clients, and in the underwriting, marketing, claims adjusting, planning, government relations, and financial management activities of insurers.
The quantitative track is for those with an interest in risk analysis. This track is for those interested in the understanding of how to model risk, and to communicate risk in a business or governmental setting. Students will take courses in risk modeling, legal risk analysis, regulation, economics, and policy. Graduates in the risk analysis track find a variety of career opportunities open to them as risk analysts within the risk management and insurance business, in other financial institutions, and in community and government agencies.
7240.10 Program Admission
There are no admission requirements specific to the Risk Management and Insurance program. However, Risk Management and Insurance students are required to meet all University and College admission requirements.
7240.20 Program Financial Information
There are no special fees associated with majoring in Risk Management and Insurance. However, Risk Management and Insurance majors must pay all tuition and fees charged by the University and the College.
CoursesActuarial ScienceBusiness Administration–busaLegal StudiesPersonal Financial PlanningRisk Management & Insurance