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May 08, 2024
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RMI 6230 - Insurance and Corporate Risk Management
Credits: 2
Students explore the evolution of business risk management from traditional risk management to enterprise risk management. What is good risk management practice today? How should a company’s risks be handled? Why do some companies buy insurance and others do not? Students learn a risk management paradigm that includes operational, strategic, financial, and hazard risks, then, for specific applications, make decisions about how to map the risks into a framework for good management decisions. Most class days involve an introductory lecture, then hands-on collaborative work on the day’s topic. By the end of the course students should be able to evidence understanding of each of the following: 1) why hazard risks should matter to owners of firms, 2) how the tax system and managerial compensation is important to how a risk is handled, 3) identify and assess risks and show how they can impact firm value, 4) evaluate risk-handling tools and show how they can impact firm value, and 5) demonstrate an understanding of enterprise risk management and how it can enhance managerial decision-making. Prerequisite: FINA 6201 .
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