INSR 825 - Managing Pure Risks:Operations and Markets

Institution:

University of Pennsylvania

Subject:

Description:

staff. Prerequisite(s): None. This course deals with property-liability insurance company financial management "alternative market" mechanisms for managing pure risks such as captive insurance companies, and the securitization of risk-linked bonds and other instruments. It involves extensive discussion of insurance company financial strategies including investments, asset-liability management, value-at-risk, capital estimation, and financail reporting. Additional topics include product distribution and marketing systems, underwriting operations and policy, reinsurance, rate-making and reserves, claims, accounting, and other functions of insurance risk pools. The regulation and taxation of insurance and captive insurance companies are also covered. A number of public policy issues affecting the management of property-liability insurers are disucssed including: insurer solvency and state guarantee funds, discrimination in property-liability insurance pricing, the effect of the underwriting cycles, and the convergence of the financial services sector. The characteristics of the property-liability insurance industry also are studied within the framework of the financial services industry.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.upenn.edu

Phone Number:

(215) 898-5000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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