Risk Management and
Insurance Concentration
1
Why Work in Insurance and
Risk Management?
“Projections for consumer spending indicate
there will be above average growth for the
products of the property and casualty
insurance industry.
This bodes well for the continued growth of
the industry, but also substantiates the need
to ensure the appropriate supply of human
resources to satisfy the growth in demand.”
https://www.insuranceinstitute.ca/iicContents/pdf/research_initiatives/executive_bri
ef.pdf
2
More Reasons Why
Insurance will never go out of style:
Demand for insurance is correlated with economic
prosperity.
Reaches all areas of the economy.
Major strength of industry is people: industry is
committed to continuing education, networking,
and relationship building.
Workforce tends to be highly mobile; excellent
opportunities for advancement.
3
What Sort of Jobs are Available?
Insurance Companies
All ‘traditional’ business opportunities (H.R., IT,
finance, sales, accounting etc.)
Underwriting, adjusting, actuarial, legal, loss
control specialist, risk management
Brokerage
Sales of personal financial products, risk
management.
Commercial brokers assess the needs of a
business and find options that fit those needs.
4
Risk Managers
May work for an insurer or broker
May be employed by any (typically large)
company
Help manage the risk to a firm arising from
how a firm operates, what it does and the
environment in which it operates.
Manage price risks (input and output), credit
risk, and pure risks such as damage to assets,
legal liability, worker injury and human
resource losses.
5
Professional Advantage of Insurance
and Risk Management Concentration
If students commence CIP program within 2
years of graduation:
Receive credit for CIP course C11
Eligible to challenge CIP exam C16
During reading week 2012, students had the
opportunity to complete CIP course C13.
Normal cost for a course is $684; WLU students
could take the course for $275
If there is interest, another CIP course will be
offered during future reading weeks.
6
Risk Management & Insurance
Concentration
The concentration consists of the following courses:
The following three (3) courses are required:
BU353 – Introduction to Risk Management and Insurance
BU419 – Property and Liability Insurance Management
BU429 – Capital Market Issues in Property and Liability Insurance
And one (1) of:
BU412 – Services Marketing Management
BU413 – Personal Financial Planning and Management
BU414 – Occupational Health and Safety
BU423 – Options, Futures and Swaps
BU433 – Management of Financial Institutions
BU461P – Managing Product Liability Risks
BU483 – Life and Health Insurance
7
Course Planning
BU419
Property/Liability
Insurance Company
Management
Risk Management
Focus
BU353
Intro to Insurance
& Risk Management
BU429
Capital Market
Issues in
Insurance
Brokerage / Sales
Focus
Insurance Management
Focus
BU423
Options, Futures
& Swaps
BU412
Services Marketing
Management
BU413
Personal Financial
Planning & Mgmt
BU433
Management of
Financial Institutions
BU414
Occupational Health
& Safety
BU483
Life & Health
Insurance
BU461P
Managing Product
Liability Risk
BU461P
Managing Product
Liability Risk
BU461P
Managing Product
Liability Risk
BU483
Life & Health
Insurance
8