154-0320/03 – System of Insurance II. (POJ II.)

Gurantor departmentDepartment of FinanceCredits5
Subject guarantorprof. Dr. Ing. Zdeněk ZmeškalSubject version guarantorprof. Dr. Ing. Zdeněk Zmeškal
Study levelundergraduate or graduateRequirementCompulsory
Study languageCzech
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
BOR30 Ing. Martina Borovcová, Ph.D.
PET308 Ing. Ingrid Petrová, Ph.D.
ZME40 prof. Dr. Ing. Zdeněk Zmeškal
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+1

Subject aims expressed by acquired skills and competences

The aim of the course is to develop students knowledge of the complex issue of management of insurance companies. At the end of this course students be able: • to apply the principles risk management in insurance • to identify the different areas of management (including financial management) of the insurance companies • to distinguish between different forms of the risk transfer in the insurance sector Based on work in tutorials, students should be able to prepare an analysis of different insurance tools, and determine optimal tool considering all the assigned criteria.

Teaching methods

Project work


The aim of the subject is to teach students the complex problematic of commercial insurance management. Main blocks of lectures are focused on: risk and insurance management, insurance economics and management, risk transfer. Exercise lectures are focused on practical analysis of insurance products.

Compulsory literature:

CIPRA, Tomáš. Riziko ve financích a pojišťovnictví: Basel III a Solvency II. 1. vyd. Praha: Ekopress, 2015. 515 s. ISBN 978-80-87865-24-8. OLIVIERI, Annamaria a Ermanno PITACCO. Introduction to insurance mathematics: technical and financial features of risk transfers. Berlin: Springer, c2011. 463 s. ISBN 978-3-642-16028-8. ZMEŠKAL, Z., D. DLUHOŠOVÁ a T. TICHÝ. Finanční modely: koncepty, metody, aplikace. 3., přeprac. a rozšíř. vyd. Praha: Ekopress, 2013. 267 s. ISBN 978-80-86929-91-0. DUCHÁČKOVÁ, Eva a Jaroslav DAŇHEL. Teorie pojistných trhů. Praha: Professional Publishing, 2010. 216 s. ISBN 978-80-7431-015-7.

Recommended literature:

DUCHÁČKOVÁ, Eva. Pojištění a pojišťovnictví. 1. vyd. Praha: Ekopress, 2015. 305 s. ISBN 978-80-87865-25-5. SANDSTRÖM, Arne. Handbook of solvency for actuaries and risk managers: theory and practice. Boca Raton: CRC Press, c2011. 1055 s. ISBN 978-1-4398-2130-5. ZMEŠKAL, Z., M. ČULÍK a T. TICHÝ. Finanční rozhodování za rizika: sbírka řešených příkladů. 4. uprav. vyd. Ostrava: VŠB-TU Ostrava, 2013. 182 s. ISBN 978-80-248-3249-4. CIPRA, Tomáš. Kapitálová přiměřenost ve financích a solventnost v pojišťovnictví. Praha: Ekopress, 2002. 271 s. ISBN 80-86119-54-8. ČEJKOVÁ, Viktória. Pojistný trh. Praha: Grada, 2002. 119 s. ISBN 80-247-0137-5. DUCHÁČKOVÁ, Eva. Principy pojištění a pojišťovnictví. 3. přeprac. vyd. Praha: Ekopress, 2009. 224 s. ISBN 978-80-86929-51-4. CRUZ, M. The Solvency II Handbook. Riskbook, 2009. HULL, J. C. Risk Management and Financial Institutions. Willey, 2012. SANDSTROM, A. Solvency: Models, Assessment and Regulation. CRC – Chapman, 2005.

Way of continuous check of knowledge in the course of semester

Credit – defence of seminar work Exam – oral examination


Other requirements

There are no other requirements on students.


Subject has no prerequisities.


Subject has no co-requisities.

Subject syllabus:

1. Introduction. 2. Decision making processes in insurance. 3. Risk and insurance, risk management. 4. Insurance company – basic aspects of founding, running and cessation of insurance company. 5. Financial statements, solvency, specific financial ratios for insurance companies. 6. Regulation of insurance – solvency and solvency capital requirements. 7. Premium calculation. 8. Insurance benefits. 9. Technical provisions. 10. Managing investments in insurance company, insurance legislation. 11. Reinsurance and coinsurance, finite risk insurance. 12. Alternative risk transfer ART, developmental trends in insurance.

Conditions for subject completion

Full-time form (validity from: 2019/2020 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Credit and Examination Credit and Examination 100 (100) 51
        Credit Credit 25 (25) 13
                Jiný typ úlohy Other task type 25  13 2
        Examination Examination 75 (75) 38 3
                Ústní zkouška Oral examination 75  38 3
Mandatory attendence participation: Participation in the exercises and lectures is optional.

Show history

Conditions for subject completion and attendance at the exercises within ISP: Participation in the exercises is not mandatory. The student must meet the requirements for passing the subject - credit and completing the examination.

Show history

Occurrence in study plans

Academic yearProgrammeBranch/spec.Spec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2024/2025 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan
2023/2024 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan
2022/2023 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan
2021/2022 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner

Assessment of instruction

2022/2023 Summer
2021/2022 Summer
2020/2021 Summer
2019/2020 Summer