Risk Management and Insurance, B.B.A.

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Program Academic Regulations

Degree Requirements

The department offers two tracks.

The Insurance Track prepares students for careers in corporate risk management, and in insurance underwriting, management, claims, and as insurance brokers advising clients and placing insurance (property, liability, professional liability, employee benefits, or personal insurance).

The Quantitative Track is for students interested in understanding how to model risk, and to communicate about risk in a business or governmental setting.

For both tracks, students must take 7 courses.

Required Courses

The following two courses are required for the RMI major:

RMI 3500 - Principles of Risk Management and Insurance 3 Credit Hours
RMI 3751 - Risk Assessment Methods 3 Credit Hours

Insurance Track

For the Insurance Track, the recommended course sequence is:

RMI 4020 - Property and Liability Insurance 3 Credit Hours
RMI 4300 - Risk Management 3 Credit Hours
or
RMI 4350 - Enterprise Risk Management 3 Credit Hours
RMI 4700 - Insurance Operations 3 Credit Hours
RMI 4800 - Commercial Insurance Underwriting 3 Credit Hours

Quantitative Track

For the Quantitative Track, the recommended course sequence is:

RMI 3600 - Calculus for Business and its Applications 3 Credit Hours (Students who have taken MATH 2212 or equivalent should substitute RMI 3600 with MATH 4751 or MATH 4752 or AS 3230 or AS 4140 )
RMI 4005 - Introduction to Risk Analytics and Applications 3 Credit Hours
RMI 4150 - Theory of Risk 3 Credit Hours
RMI 4990 - The Risk Analysis Clinic 3 Credit Hours

Other Considerations for Quantitative Track:

MATH 1220 must be taken in place of the non-RCB electives. For students with appropriate mathematics background, MATH 1220 should be taken in core area A in place of MATH 1111 (college algebra) or in place of MATH 1113 (precalculus) in core Area D.

It is highly recommended that new RMI majors with an interest in risk analysis consult with their major adviser at their earliest convenience so that an efficient program can be constructed in accordance with the unique nature of the track and course scheduling requirements.

If students cannot take the Risk Analysis Clinic due to timing or availability issues, the Departmental Advisor will suggest an acceptable substitute elective.

Obtaining a letter of completion for the Risk Analysis track is based on completion of all the recommended courses.

Other Required Courses

Select one course from the following:

RMI 4000 - Personal Financial Planning 3 Credit Hours
RMI 4010 - Life Insurance 3 Credit Hours
RMI 4015 - Contracts Risk Analysis 3 Credit Hours
RMI 4025 - Law, Policy and Risk Regulation 3 Credit Hours
RMI 4035 - Financial Risk and Regulation 3 Credit Hours
RMI 4045 - Advanced Financial Risk Management 3 Credit Hours
RMI 4391 - Risk Management and Insurance Field Study 1 to 3 Credit Hours (with approval of the department)
RMI 4400 - InsurTech: New Technology in Insurance Markets 3 Credit Hours
RMI 4530 - Employee Benefit Plans 3 Credit Hours
RMI 4680 - Regression Modeling 3 Credit Hours
LGLS 4050 - Legal Transactions and Risk 3 Credit Hours
MATH 4751 - Mathematical Statistics I 3 Credit Hours
MATH 4752 - Mathematical Statistics II 3 Credit Hours
AS 3230 - Financial Mathematics 3 Credit Hours
AS 4140 - Probability 3 Credit Hours
FI 4090 - Introduction to Financial Data Analytics 3 Credit Hours