Insurance and Risk Management, MBA

By majoring in insurance and risk management, an MBA student may fuse general management education with specialized expertise. This major enables the student to gain a thorough understanding of risk management and insurance theory and practice. Students are exposed to the legal, actuarial, financial, and economic principles underlying corporate and public sector risk management, with specific applications to individual, business, and social problems. Risk Management and Insurance theory, functions, and strategies are investigated against a background of accelerating change in the legal, regulatory, and economic environment. Career opportunities for MBA graduates with a major in insurance and risk management include positions in many types of consulting, risk management, employee benefits management, insurance company management, and personal financial planning. Risk management involves financial and statistical analysis of risk and insurance-related problems that confront businesses and public sector managers. Positions are available in risk management departments of large corporations, risk management consulting firms, insurance brokerage firms, and special risk divisions of insurance companies, that deal with large corporate risks as well as government and non- profit organizations around the world. The increasing importance of employee benefits in overall compensation management requires individuals with education in group insurance, pension plans, and deferred compensation arrangements. Positions are available in corporate benefit departments, employee benefit consulting firms, and bank trust departments as well as social insurance agencies in the public sector. Insurance company management positions are available in general management, marketing, financial management, and research and planning; jobs in the regulatory sector are also available to our graduates. The growth in the number of firms providing personal financial planning has increased the demand for persons with education in the use of life insurance and related mechanisms in capital accumulation and estate conservation. Additional opportunities for an MBA combining finance and insurance include positions in insurance company investment, pension fund management, and social insurance program design and oversight. Management consulting firms also seek candidates with expertise in insurance for positions involving insurance industry analysis, including insurance company formations and acquisitions. This demand can be expected to accelerate in view of the ongoing erosion of traditional regulatory barriers between commercial banking, insurance, and the securities industry. The Department also participates in a crossfunctional major in Environmental and Risk Management.

Curriculum

A minimum of 19 course units is required for graduation.

Major electives taken on a pass/fail basis cannot be counted toward the Insurance & Risk Management major.

Insurance and Risk Management Major Requirements
BEPP 890Advanced Study Project1
Select four course units, with at least three from the following: 14
Risk Management
Business Insurance and Estate Planning.
Actuarial Statistics
Financial Derivatives
International Financial Markets
Investment Management
Risk Analysis and Environmental Management
Risk and Crisis Management.
and Markets for Pure Risk.
Electives
Select 4.5 course units of electives4.5
MBA Core Requirements9.5
Total Course Units19

MBA Core Requirements

Accounting
Select one of the following:0.5-1
Fundamentals of Financial Accounting
Fundamentals of Financial and Managerial Accounting
Finance 1
Corporate Finance
Select one of the following:0.5-1
Corporate Finance
Corporate Finance (Half CU)
Macroeconomics
Select one of the following:0.5-1
Macroeconomics and the Global Economic Environment
Macroeconomics and The Global Economic Environment (Half CU)
Legal Studies
LGST 611Responsibility in Global Management0.5
or LGST 612 Responsibility in Business
Microeconomics
MGEC 611Microeconomics for Managers: Foundations0.5
MGEC 612Microeconomics for Managers: Advanced Applications0.5
Management
MGMT 610Foundations of Teamwork and Leadership0.5
MGMT 611Managing Established Enterprises1
or MGMT 612 Management of Emerging Enterprises
Marketing
MKTG 611Marketing Management0.5
MKTG 612Dynamic Marketing Strategy0.5
or MKTG 613 Strategic Marketing Simulation
OIDD
OIDD 611Quality and Productivity0.5
or OIDD 615 Operations Strategy
Select one of the following: 20.5
Quality and Productivity
Business Analytics
Online Business Models and the Information-Based Firm
Innovation
Operations Strategy
Statistics
STAT 613Regression Analysis for Business 31
or STAT 621 Accelerated Regression Analysis for Business
Management Communication
WHCP 611Management Communication0.25
Select one of the following:0.25
Advanced Persuasive Speaking
Communication Challenges for Entrepreneurs: "Pitching your Business"
Persuasive Writing for Business Leaders
Total Course Units9.5

The degree and major requirements displayed are intended as a guide for students entering in the Fall of 2020 and later. Students should consult with their academic program regarding final certifications and requirements for graduation.