Course “Doing business in Russia”
Content of the lecturers by “Business Risks Insurance”
Lecturer: Finogenova Y. Julia
(PhD, Associate Professor of the Insurance Chair, Plekhanov Russian academy of
economics)
jfinogenova@yandex.ru
Consist of three parts:
1. Risk Management Approach (2 ac. h)
2. Russian insurance market (2 ac. h)
3. Project Risk Management and Insurance (4 ac. h)
Main target of the course:
Application of risk management process, using insurance as one on the effective instruments, to
business risk management problems
1. Risk Management Approach (2 ac. h)
-
Risk management (RM) and value of a company
International standards of RM
Finding optimal risk exposure in a company
Case Discussion: “Integrated Risk Management in ABC Company”
2. Russian insurance market (2 ac. h)
-
Overview of Russian insurance market
Russian insurance market efficiency
Most demanded insurance products
Case “Corporate insurance program for ”Russian Tires” Company
3. Project Risk Management and Insurance (4 ac. h)
- Main steps in risk management process
- Methods of risks identification and evaluation
Case “Risk Management in “Vincella Vines” Company
Discussion “Understanding Corporate VaR (C-VaR)”
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Useful Bibliography
Compulsory Book:
1. Scott E Harrington, Gregory R Niehaus, Risk Management and Insurance, 2-nd Edition,
McGraw –Hill Publishing, 2004
Optional:
2. Principles of Risk Management and Insurance. by George E. Rejda. Publisher: AddisonWesley. 2007.
3. Project Risk Management by Bruce T. Barkley, McGraw –Hill Publishing, 2004
Internet Refs:
4. www.swissre.com (Swiss Sigma Research, Swiss Reinsurance Company, reinsurance
information)
5. www.iii.org (Site of the International Insurance Institute. Useful links to the sites of
insurer’s publications in different fields of insurance operations, including corporate
insurance programs)
6. www.businessinsurance.com/ (Many issues about UK’s corporate insurance organization.
Refs to archives with business insurance and risk management information)
7. www.insure.com (Portal of the US insurance industry. Insurance programs description and
glossary. Articles in different insurance topics)
8. www.ambest.com/ (Worldwide insurance rating and information agency)
9. www.prmia.org (Professional Risk Managers' International Association)
10. www.icma-group.org (International capital market association)
11. www.garp.com (Global Association of Risk Professionals)
12. http://www.artemis.bm/ (The Alternative Risk Transfer Portal)
13. http://airmic.com/Downloads/Pubs/AIRMIC_Risk-Management-Standard.pdf (A Risk
Management Standard. – 2002. – AIRMIC, ALARM, IRM)
14. http://www.riskmetrics.com (Corporate Metrics. The Benchmark for Corporate Risk
Management)
15. http://www.tillinghast.com (Tillinghast – Towers Perrin)
16. http://www.coso.org/Publications/ERM/COSO_ERM (Enterprise Risk Management –
Integrated Framework. – The Committee of Sponsoring of the Treadway Commission. –
September 2004)
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