154-0502/03 – Insurance I. (INS I.)
Gurantor department | Department of Finance | Credits | 5 |
Subject guarantor | prof. Dr. Ing. Zdeněk Zmeškal | Subject version guarantor | prof. Dr. Ing. Zdeněk Zmeškal |
Study level | undergraduate or graduate | Requirement | Compulsory |
Year | 3 | Semester | winter |
| | Study language | English |
Year of introduction | 2019/2020 | Year of cancellation | |
Intended for the faculties | EKF | Intended for study types | Bachelor |
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
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction
Předmět neobsahuje žádné hodnocení.