Annexure ‘CD – 01’

L T P/S SW/FW No. of TOTAL

PSDA CREDIT
Course Title: Insurance & Risk Management Credit Units: 03 UNITS
2 0 0 2 3 3
Course Level: UG Course Code: FIBA 307
Course Objectives:
• To acquaint students with various types of insurance policies, plans, and prominent companies
• To provide the students with a broad understanding of risk and insurance as a means to manage it
• To describe various risk management techniques to manage insurance effectively

Pre-requisites:
• Candidates having general background of financial management.

Cours Learning Outcomes: On the successful completion of this course the student will be able to:
• Understand the concept and practice of various risks in managing insurance
• Analyze the difference between various types of insurance plans and their requirements
• Apply the various loss assessment tools
• Assess various emerging issues and use of technology in insurance field

Course Contents/Syllabus:
Weightage (%)
Module I: Risk Management 20
Descriptors/Topics: Concept of Risk, Types of Risk, Managing Risk, Sources and Measurement of Risk, RiskEvaluation and Prediction. Disaster
Risk Management, Risk Retention and Transfer.
Module II: Concept of Insurance 20
Descriptors/Topics: Concept of Insurance, Need for Insurance, Globalization of Insurance Sector, Types of Insurance, Reinsurance, Coinsurance,
Self-Insurance.
Module III: Principles of Insurance 20
Descriptors/Topics: Nature of Insurance Contract, Principle of Utmost Good Faith, Insurable Interest, proximate cause, contribution and
subrogation, Indemnity, Legal Aspects of Insurance Contract, Types of Insurance, Fire and Motor Insurance, Health Insurance, Marine Insurance,
Automobile Insurance.
Module IV: Loss Assessment and Control 20
 Descriptors/Topics: Control of Malpractices, Negligence Loss Assessment and Loss Control, Exclusion of Perils, Actuaries, Computation of
Insurance Premium. Regulatory Framework of Insurance: Role, Power and Functions of IRDA, Composition of IRDA, IRDA Act'1999.
Module V: Emerging Issues and Use of Technology 20
Descriptors/Topics: Emerging Issues and Future Prospects due to technological changes, Using technology to calculate premium, compare
insurance plans and filing complaints.

Pedagogy for Course Delivery:

• Power point presentation

• Class participation and discussions
• Assignments
• Lectures
• Case Study methodology
• Web Resources such as further references, related links, books including e-books will be part of the instructional material in this course

List of Professional Skill Development Activities (PSDA):

Students will do the following activities
PSDA 1: Prepare a Project report on principles of insurance and types of insurance plans
PSDA 2: Prepare the flow chart and procedure to be followed for claim settlement
PSDA 3: Do a study on technological interventions in the field of insurance and present it .

Lab/Practicals details, if applicable:

List of Experiments: NA

Assessment/ Examination Scheme:

Theory L/T (%) Lab/Practical/Studio (%)

100

Theory Assessment (L&T):

Continuous Assessment/Internal Assessment
 Components End Term
(Drop Examination
down) Mid- Project Home Viva/ Class Attendance
Term Assignment Presentation
Exam

Linkage of PSDA 1 PSDA 2

PSDA with
Internal PSDA 3
Assessment
Component,
if any

Weightage
(%)
10% 10% 5% 10% 5% 60%

Lab/ Practical/ Studio Assessment:

Continuous Assessment/Internal Assessment End Term Examination

(____ %) (____ %)

Components (Drop down

Weightage (%)

Text Reading:
• Mishra & Mishra (2018), Insurance Principles and Practices, S. Chand Publishing House, New Delhi.

References:
• Ali Sajid, MohhamadRiyaz, Ahmed Mansharique (2017), Insurance in India, Regal Publications, New Delhi.

Additional Reading:

• Bishnoi, Ashutosh (2018), Insurance Products (Including Pension Products), Indian Institute of Banking & Finance, Taxman, New Delhi.
 Mapping Continuous Evaluationcomponents/PSDA with CLOs

Bloom’s Level > Remembering Understanding Applying Analysing Evaluating Creating

Course Understand Understand Apply the Analyze the Assess Assess
Learning the concept the concept various difference various various
Outcomes and practice and practice loss between emerging emerging
of various of various assessment various types issues and issues and
risks in risks in tools of insurance use of use of
Assessment managing managing plans and technology technology
type/PSDA insurance insurance their in insurance in insurance
requirements fields field
PSDA 1 ✓ ✓ ✓ ✓
PSDA 2 ✓ ✓ ✓ ✓
PSDA 3 ✓ ✓ ✓ ✓
Mid term Test ✓ ✓ ✓ ✓ ✓
Home ✓ ✓ ✓
Assignment