FAK 2326 Underwriting
APPLIES TO ACADEMIC YEAR 2016/2017 Norwegian version |
FAK 2326 Underwriting
Responsible for the course
Ørnulf Daler
Department
Department of Law
Term
According to study plan
ECTS Credits
7,5
Language of instruction
Norwegian
Introduction
The course is one out of four that can be used as part of Risk and Insurance. The course is an obligatory part of the Insurance Broker’s Authorizations for Non-life 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. ... [et al.]. 2005. Marine insurance underwriting. Rev. and updated ed. Chartered Insurance Institute. kap. 1, 5, 9 A,B og C, samt 10
Smith, Paul. 2004. Underwriting management. New ed. Chartered Insurance Institute. 163 s
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
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.
Examination
Home exam, 72 hours, individual or in groups of up to three students. For authorization purposes the grade must be C or higher.
Examination code(s)
FAK 23261 Home exam, which account for 100 % of the final grade in the course FAK 2326. 7,5 credits.
Examination support materials
Re-sit examination
A re-sit is held at the next scheduled exam in the course.
Additional information