• Risk in a Decision-Making Context
• Risk Management: Identification, Analysis and Handling of Risks
• Pooling of Risks
• The Concept of Insurance: Insurance as Risk Transfer and Risk Transformation
• The Insurance Corporation:
• Technical Risks
• Risk Management of Technical Risks
• Reinsurance
• Insurability
• Insurance Premium
• Insurance Production Theory
• Insurance Marketing
• Social Insurance

(subject to modifications and amendments)

Note: This course is not based very much on mathematics, mathematical models and calculations, but more on general theory from the viewpoint of management.

Participants will unterstand risk and know how to deal with risks systematically. They will understand the concept of insurance and  acquire knowledge about the essential aspects of an insurance corporation.

Presence in class; absence three times permissible, without prior notification (except for the very first course session, there prior notification is necessary in case of foreseeable absence). If you do not take the fourth exam at the end of the course (after already having taken three exams, see below), then this will not count as absence (so, if you take the first three exams, you may be absent three times PLUS the last course session when exam 04 takes place).

This class is taught as lecture combined with examples and discussions that help students to consolidate their knowledge and understanding. Papers with learning objectives, questions and examples, provided by the course instructor for each topic, are designed to assist the students in their preparation (at home) for the exams (not used in class).

Taking of (minimum) three written examinations (out of four offered).

The maximum number of percentage points in each test is 100. The final grade is obtained from the equally weighted average of the results in ALL examinations taken. (No result will be cancelled then if you take four examinations instead of three; if you take three examinations then the total of percentage points is divided by three; if you take four exams then the total of percentage points is divided by four; so there may be the chance to improve your grade by taking the fourth examination, but there may also be the risk of worsening your grade).

No minimum number of percentage points is required for a single exam.

If you take only two exams you will not pass the course (final grade "5", "fail"), irrespective of the percentage points you have achieved.

If you have already taken one or more exams you will get a grade in any case, deregistration is not possible anymore then. 

The assessment load (that is everything that has been dealt with from the beginning of the course until the respective examination) for the third and the fourth exam will be the same.

Powerpoint-slides comprising the total assessment load will be made available by the course instructor by e-mail (together with the "Questions"-papers containing learning objectives, questions and exercises; these are only for preparation at home, not for use in class) a few days before the beginning of the course after the end of the registration time (check your WU-account!). No further literature is required.

The exams are "closed book". A calculator which is not able to store text and/or graphs is allowed.

Examinations (will take place in the first 40 minutes of the following course sessions and each one will comprise about 6 to 14 different tasks; the format of the examinations corresponds to what you find in the above mentioned "Questions"-papers):

Examination No. 01: 24 October 2023

Examination No. 02: 14 November 2023

Examination No. 03: 5 December 2023

Examination No: 04: 12 December 2023

The translation of the average of percentage points into final grades is as follows:

0-44 points: fail ("Nicht genügend", "5")

45-59 points: sufficient ("Genügend", "4")

60-69 points: satisfactory ("Befriedigend", "3")

70-79 points: good ("Gut", "2")

80-100 points: very good ("Sehr gut", "1")

# There will be no homework assignments.

Should it - due to COVID-19 - not be possible to hold classroom sessions and exams, then sessions will be held by MS-Teams and exams will be replaced by homework assignments.

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