THE CO-OPERATIVE UNIVERSITY OF KENYA
COURSE INFORMATION
COURSE CODE
: DMRI 1202
COURSE TITLE
: Liability & Property Insurance
COURSE LECTURER/
NAME
: Ken Okeyo
EMAIL
: Kokeyo@cuk.ac.ke
PHONE NUMBER
: +254 721 965 658
INTRODUCTION
The course purpose is to equip the students with necessary knowledge and the ability to find a niche in
risk management. Traditionally, insurance has been a process of financial compensation when a risk
occurs. Contemporary learning has seen a shift away from that to a life of partnership between insurance
and various other fields.
UNIT GOALS
At the end of the course, the learners will be able to;
1. Describe in detail each of the factors used to evaluate property loss exposures;
2. Explain how insurable interest, policy provisions for valuing losses, and insurance to value
affect a loss payment amount under property insurance;
3. Explain how underwriters use policy amount, amount subject, normal loss expectancy (NLE),
probable maximum loss (PML), and maximum foreseeable loss (MFL) to measure potential
loss severity;
4. Describe the underwriting considerations for business income and extra expense coverage
5. Describe the underwriting considerations and risk control techniques associated with employee
dishonesty and crimes committed by others; and
6. Describe the loss exposures and the underwriting considerations for commercial general
liability insurance.
DESCRIPTION
The Course will be delivered online through various multi-media platforms. It will be broken down in
the following sections and key milestones;
i.
Introduction;
a. Liability & scope of liability insurance
b. Special features of liability insurance
c. Legal background – common law & statutory law
ii.
Legal background
a. common law & statutory law
b. Causal Connection Between Breach & Injury
c. Onus of Proof
d. Employer’s Liability for Negligence of Employee Liability Underwriting
iii.
The underwriting process
a. Identification of physical & legal risks
b. Evaluations of physical & legal risks
iv.
Reinsurance
a. Need for liability & property reinsurance
b. Methods of reinsurance
v.
Fundamentals of property insurance
a. Introduction
b. Legal background
vi.
Contemporary issues
REQUIRED READINGS
Course text books
1. John Long & Davis Gregg, Property and Liability Insurance Handbook,
2. Donald Malaki, Ronald Horn & Eric Weaning Commercial Liability Insurance and Risk
Management,
3. Muriatic K., (2015). Fundamentals of General Insurance (1st Ed.). Nairobi: KOLB. ISSN
978-9966-149-284. Anthony., S. & Marcia, (2013) Financial Institutions Management: A Risk Management
Approach ISBN 978-0078034800
Reference Text Books
1. College of Insurance., (2015). Introduction to General Insurance practice (1st Ed.). Nairobi:
KOLB. ISSN 978-9966-149-27-5
2. Pilbara, K. (2004). International Finance. (4th Edition). Palgrave. ISBN-10: 1403948372
3. Christoffersne, P. (2011). Elements of Financial Risk management. Newyork: Academic Press.
ISBN- 10:0123744482.
4. Croupy,, M.,Gala.,Dandy Mark,R, (2014) .The Essential of Risk Management:( 2nd edition)
McGraw-Hill ISBN: 978-0071818513
Course Journal
1. Journal of Risk and Insurance ISSN: 1539-6975
2. Risk Management and Insurance ISSN:1540-6296
3. Journal of risk and insurance. ISSN: 1539-6975.
4. Journal of Financial Risk Management. ISSN: 2167-9541
Reference Journal
1. The General Risk and Insurance Review ISSN: 1554-964Y
2. The Journal of Risk and Insurance Research Gate ISSN: 0022-4367
3. International Journal of Financial Risk. ISSN: 2227-7072
PROJECTS
The project work for this course will be as follows;
Students will undertake 2 (Two) Sit-in CAT’s
1 (One) Individual take away Assignment
1 (One) Group take away Assignment.
At least 2 (Two) Random Assessment Tests will also be issued to track the understanding of
various concepts with Focus Groups.
5. Final Exam on conclusion of the course.
1.
2.
3.
4.
ASSESSMENT METHODS
The course will be assessed using the following weights;
-
CAT’s & Assignment
Final Exam
50%
50%
UNIT SCHEDULE
TOPIC #
1
DESCRIPTION
Introduction
SUB TOPIC
In-depth introduction
LESSON & WEEK
1
Liability & scope of
liability insurance
Special features of
liability insurance
2
Legal background –
common law & statutory
law
2
3
Legal background
Common law & statutory
law
Causal Connection
Between Breach &
Injury
Onus of Proof
Employer’s Liability for
Negligence of Employee
Liability Underwriting
PROJECT WORK
The underwriting process
Identification of physical
& legal risks
3
4
5
6
4
Reinsurance
Evaluation of physical &
legal risks
Need for liability
insurance
Need for property
insurance
Methods of reinsurance
7
8
5
PROJECT WORK
Fundamentals of property
Introduction
insurance
Legal background
9
10
11
6
Contemporary issues
12
TOTAL CONTENT PLAN
Total Hours of Student Work
Total Hours of Virtual Learning Content (Zoom or BBB)
Total Hours of Assessments and Readings
2 – 3 Hours Max
2 Hours Max
1 Hour Max
STUDENT SUPPORT
The students will be allowed to work in focus group to solve the compulsory exam style revision
questions. The lecturer will tackle 1 (One) question that all groups unanimously select per month. The
solutions and the podcast of the workings will be shared and discussed on eMasomo Discussion
Forum
ACADEMIC SUPPORT


Students can contact the lecturer through the number and email provided above. The lecturer
will offer a Q&A session every Saturday from 10:00am to 12:00pm on WhatsApp Chat.
Students should use the resources at the University Library by visiting in person.
HOW TO SUBMIT ASSIGNMENTS
Assignments will be sent via eMasomo with various restrictions. The grades for the assignments will
also be presented through the same platform.
TECHNICAL SUPPORT
All course content and assignments will be presented through eMasomo. In case of any challenges,
please email support.IODeL@CUK.AC.KE quoting your admission number and the difficulty as
the subject.