154-0502/03 – Insurance I. (INS I.)

Gurantor departmentDepartment of FinanceCredits5
Subject guarantorprof. Dr. Ing. Zdeněk ZmeškalSubject version guarantorprof. Dr. Ing. Zdeněk Zmeškal
Study levelundergraduate or graduateRequirementCompulsory
Year3Semesterwinter
Study languageEnglish
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
GUO001 Ing. Haochen Guo, Ph.D.
TIC02 prof. Ing. Tomáš Tichý, Ph.D.
VAL35 Ing. Jiří Valecký, 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 overall aim of the course is to get students acquainted with the fundamentals of insurance and its functioning as a system. In short, at the end of this course students will have a fundamental knowledge of terms and concepts used in insurance business, and should be able: • to describe subjects and principles of insurance. • to distinguish between different products of life and non-life insurance. • to identify the role of the domestic and European insurance markets.

Teaching methods

Lectures
Tutorials

Summary

The subject is the fundamentals for insurance studies. The content should be fundamental information on insurance area and its function as a system. The aim is to teach students the insurance area in its social and commercial form, characteristics and specifics of national insurance market and its participants. Attention is paid to personal, property and public liability insurance products availability on the Czech insurance market.

Compulsory literature:

HARRINGTON, Scott and Gregory NIEHAUS. Risk Management and Insurance. 2nd ed. Mcgraw Hill, 2004. KWON, W. Jean and Harold D. SKIPPER. Risk Management and Insurance: Perspectives in a Global Economy. Wiley-Blackwell, 2007. THOYTS, Rob. Insurance Theory and Practice. Routledge, 2010.

Recommended literature:

DORFMAN, Mark S. Introduction to Risk Management and Insurance. Prentice Hall, 2005. OLIVIERI, Annamaria and Ermanno PITACCO. Introduction to Insurance Mathematics: Technical and Financial Features of Risk Transfers. Springer, 2011. WÜTHRICH, Mario V. and Michael MERZ. Financial Modeling, Actuarial Valuation and Solvency in Insurance. Springer, 2013.

Way of continuous check of knowledge in the course of semester

Kombinovaná zkouška, zápočet - projekty

E-learning

Other requirements

There are no other requirements on student.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Introduction to insurance. 2. Insurance – basic concept and insurance activities. Insurance systems (commercial and social insurance). 3. History of insurance and insurance development – basic developmental periods, insurance development in Czech Republic. 4. Insurance classification - Insurance classification from the basic points of view (business lines, territorial competence, insured risks, insurance benefits, etc.). 5. Insurance policy - contractual insurance, requisites of insurance policy, policy conditions, effect of insurance and termination. 6. Life insurance - characteristics, basic concept, role of life insurance in economics, premium, life insurance contracts. Term insurance. 7. Life insurance – pure endowment insurance, various types of life policies, endowment insurance. Participating policies, unit-linked policies and universal life policies. 8. Contracts of 3rd pension pillar – pension plan (characteristics, pension management companies, transformed funds, types of benefits, types of pensions, current situation in CZ). 9. Contracts of 3rd pension pillar– supplementary pension savings (characteristics, pension management companies, participation funds, types of benefits, types of pensions, current situation in CZ). 10. Nonlife insurance - characteristics, types of nonlife insurance. Role of nonlife insurance in economics. 11. Nonlife insurance – property insurance. Property insurance for physical persons, business risk insurance and industrial insurance, agricultural risks insurance. 12. Nonlife insurance – liability insurance. Mandatory liability insurance, mandatory contractual liability insurance, facultative contractual liability insurance. Motor third party insurance. 13. Nonlife insurance – insurance of persons. Accident insurance, private health insurance. 14. Assessment of insurance market – qualitative and quantitative ratios of assessing insurance market.

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 points
Credit and Examination Credit and Examination 100 (100) 51
        Credit Credit 25 (25) 13
                Obhajoba projektu Project 25  13
        Examination Examination 75 (75) 38
                Písemka Written test 15  8
                Ústní zkouška Oral examination 60  30
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2020/2021 (B0412A050006) Finance FIT P English Ostrava 3 Compulsory study plan
2019/2020 (B0412A050006) Finance FIT P English Ostrava 3 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner