154-0520/03 – Insurance II. (INS II.)

Gurantor departmentDepartment of FinanceCredits5
Subject guarantorprof. Dr. Ing. Zdeněk ZmeškalSubject version guarantorprof. Ing. Tomáš Tichý, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semestersummer
Study languageEnglish
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
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 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

Credit – defence of seminar work Exam – oral examination

E-learning

Další požadavky na studenta

There are no other requirements on students.

Prerequisities

Subject has no prerequisities.

Co-requisities

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 points
Credit and Examination Credit and Examination 100 (100) 51
        Credit Credit 25  13
        Examination Examination 75  38
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2020/2021 (N0412A050005) Finance FIN P English Ostrava 1 Compulsory study plan
2019/2020 (N0412A050005) Finance FIN P English Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner