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FIN562 Risk Management and Insurance (8)

Abstract

This subject introduces the concept of personal, property, liability and business risk management. It provides a framework that allows identification of risk, the probability of risk, the cost of risk; and the means of managing risk. To the extent that risk cannot be avoided or managed, self-insurance and laying off the risk to an insurance provider is examined. The key feature of this subject is the development of needs based solutions to risk management across a full range of options and the development of personalised solutions.

+ Subject Availability Modes and Location

Session 2
OnlineBathurst Campus
Continuing students should consult the SAL for current offering details: FIN562
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration Grading System School:
One session HD/FLSchool of Accounting and Finance

Enrolment restrictions

Postgraduate Courses in the Faculty of Business, Justice and Behavioural Science.

Learning Outcomes

Upon successful completion of this subject, students should:
  • identify and analyse the law governing insurance as it applies to financial planning clients and be able to apply it to specific situations;
  • critically analyse the risks faced by clients and apply the risk management process to identify the exposures to risk and the options available to handle those exposures;
  • be able to critically evaluate the scope and nature of different insurance products and identify appropriate contracts which cater for client identified risk;
  • prepare appropriate insurance recommendations within a Statement of Advice that will mitigate the identified risks; and
  • undertake secondary research and critically evaluate the conflicting positions on recent developments in insurance and risk management trends and policies.

Syllabus

The subject will cover the following topics:
  • the risk management process;
  • risk avoidance and risk management;
  • the legal and regulatory environment;
  • personal risk management;
  • property and investment risk management;
  • professional, public and product risk management;
  • managing and funding estate planning needs;
  • business risk management;
  • succession planning; and
  • the provision of risk management products and advice.

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The information contained in the 2018 CSU Handbook was accurate at the date of publication: 13 October 2017. The University reserves the right to vary the information at any time without notice.