154-0520/02 – Insurance II. (INS II.)

Gurantor department	Department of Finance	Credits	4
Subject guarantor	prof. Ing. Tomáš Tichý, Ph.D.	Subject version guarantor	prof. Dr. Ing. Zdeněk Zmeškal
Study level	undergraduate or graduate	Requirement	Compulsory
Year	1	Semester	summer
		Study language	English
Year of introduction	2012/2013	Year of cancellation	2019/2020
Intended for the faculties	EKF	Intended for study types	Follow-up Master

Instruction secured by
Login	Name	Tuitor	Teacher 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 study	Way 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

Lectures
Tutorials

Summary

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:

DORFMAN, Mark S. Introduction to risk management and insurance. 8th ed. Upper Saddle River: Pearson Prentice Hall, c2005. 575 p. ISBN 0-13-144958-3. HARRINGTON, Scott E. a Greg NIEHAUS. Risk management and insurance. 2nd ed., international ed. New York: McGraw-Hill, c2004. 672 p. ISBN 0-07-123244-3. OLIVIERI, Annamaria a Ermanno PITACCO. Introduction to insurance mathematics: technical and financial features of risk transfers. Berlin: Springer, c2011. 463 p. ISBN 978-3-642-16028-8. WÜTHRICH, M.V., MERZ, M.: Stochastic Claims Reserving Methods in Insurance. Wiley, 2008.

Recommended literature:

THOYTS, Rob. Insurance theory and practice. London: Routledge, 2010. 323 p. ISBN 978-0-415-55904-1. SANDSTRÖM, Arne. Handbook of solvency for actuaries and risk managers: theory and practice. Boca Raton: CRC Press, c2011. 1055 p. ISBN 978-1-4398-2130-5. WÜTHRICH, Mario Valentin a Michael MERZ. Financial modeling, actuarial valuation and solvency in insurance. Berlin: Springer, c2013. 432 p. ISBN 978-3-642-31391-2. KWON, W.J., SKIPPER, H.D.: Risk Management and Insurance: Perspectives in a Global Economy. Wiley-Blackwell, 2007.

Way of continuous check of knowledge in the course of semester

E-learning

Other requirements

There are no other requirements on the students.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Introduction 2. Risk in insurance,risk management 3. Insurance benefits, insurance 4. insurance, its activities and impact on financial results 5. Insurance regulation. 6. Financial statements, solvency, financial ratios in insurance, 7. Insurance reserves 8. Investment management in insurance, legal acts 9. Internal structure and processes in insurance, its marketing 10. Reinsurance 11. Finite and financial reinsurance 12. Alternative trisk transfer ATR, trends in insurance

Conditions for subject completion

Full-time form (validity from: 2014/2015 Summer semester, validity until: 2019/2020 Summer semester)

Task name	Type of task	Max. number of points (act. for subtasks)	Min. number of points	Max. počet pokusů
Credit and Examination	Credit and Examination	100 (100)	51
Credit	Credit	25	13	2
Examination	Examination	75	38	3

Mandatory attendence participation:

Show history

Conditions for subject completion and attendance at the exercises within ISP:

Show history

Occurrence in study plans

Academic year	Programme	Branch/spec.	Spec.	Form	Study language	Tut. centre	Year	Type of duty
2018/2019	(N6202) Economic Policy and Administration	(6202T010) Finance		P	English	Ostrava	1	Compulsory	study plan
2017/2018	(N6202) Economic Policy and Administration	(6202T010) Finance		P	English	Ostrava	1	Compulsory	study plan
2016/2017	(N6202) Economic Policy and Administration	(6202T010) Finance		P	English	Ostrava	1	Compulsory	study plan
2015/2016	(N6202) Economic Policy and Administration	(6202T010) Finance		P	English	Ostrava	1	Compulsory	study plan
2014/2015	(N6202) Economic Policy and Administration	(6202T010) Finance	(01) Finance	P	Czech	Ostrava	1	Compulsory	study plan
2013/2014	(N6202) Economic Policy and Administration	(6202T010) Finance	(01) Finance	P	Czech	Ostrava	1	Compulsory	study plan
2012/2013	(N6202) Economic Policy and Administration	(6202T010) Finance	(01) Finance	P	Czech	Ostrava	1	Compulsory	study plan

Occurrence in special blocks

Block name	Academic year	Form of study	Study language	Year	W	S	Type of block	Block owner

Assessment of instruction

2015/2016 Summer