FAK 2326 Underwriting

APPLIES TO ACADEMIC YEAR 2013/2014

FAK 2326 Underwriting


Responsible for the course
Ørnulf Daler

Department
Department of Accounting - Auditing and Law

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
The course is one out of two that can be used as part of the Higher Insurance Exam. The course is an obligatory part of the Insurance Broker’s Authorizations for Non-life and Marine Insurance.

Learning outcome
Acquired knowledge
The students shall obtain knowledge about how to make insurance contracts, developing risk premium and quoted premium, statistical modelling, budgeting and monitoring of the underwriting results. The students shall further obtain insight in the selection of class of business and design of products, handling the company’s risk exposure and the implementation of control systems.

Acquired skills
The students shall be able to evaluate the making of insurance contracts, including which risks are covered, how the premium is calculated, including which factors form part of the basis of calculation and be able to carry out a justifiable analysis and balance between the existing risk, need for insurance and costs.

Reflection
During the course, the students should have acquired a conscious attitude to the fact that their professional choices and advice first and foremost are of importance for other people than themselves.

Prerequisites
The course implies that the student has basic knowledge of the Norwegian insurance industry. The major part of the curriculum is in English.

Compulsory reading
Books:
Jaffe, Paul A.C. 2005. Marine insurance underwriting. Chartered Insurance Institute. Uvalgte kapitler
Smith, Paul. 2004. Underwriting management. New ed. Chartered Insurance Institute

Collection of articles:
Artikler fra Nordisk Forsikringstidsskrift: nr. 4/1995 s.348ff, 1/2000 s. 64ff, 3/2000 s. 259ff, 1/2001 s.1ff, 1/2002 s. 38ff., 2/2003 s. 177ff.

Recommended reading

Course outline

  • Selection of class of business and design of products
  • Setting the underwriting policy
  • Developing the risk premium
  • Statistical modeling techniques
  • Management of exposures
  • Developing the quoted premium
  • Implementation of operational controls
  • Budgeting and monitoring results

Computer-based tools
It’s learning (virtual classroom/intranet facilities)

Learning process and workload
Part-time study organized as distance education based on self-tuition and five assignments (mandatory).
Intensive 5 days (2+3) mandatory seminars.
Activity
Use of hours
Participation on the 5 seminar days
35
5 mandatory assignments
15
Reading of curriculum, activities on Apollon
80
Project paper - examination
70
Recommended total workload
200


    Examination
    Project paper, individual or in groups of up to three students. For authorization purposes the grade must be C or higher.

    Examination code(s)
    FAK 23261 Underwriting, which account for 100 % of the final grade in the course FAK 2326. 7,5 credits.

    Examination support materials
    All written materials and BI-approved exam calculator are permitted. Examination support materials at written examinations are explained under exam information in our web-based Student Handbook. Please note the use of calculator and dictionary. http://www.bi.edu/studenthandbook/examaids


    Re-sit examination
    A re-sit is held at the next scheduled exam in the course.

    Additional information

    Semester

    Oversettelser