Insurance

Course Description

This course describes insurance, its importance, the concept of risk and its types and causes. It displays the distinction between compensation and insurance contracts, insurance parties and the terms of securable risk. It introduces ways of re-insurance operations and social security concepts.

Course Aims

By the end of this course, students should be able to:

•  To be familiar with the concept of risk, its quantitative calculation, means of transportation and methods of managing it in modern reality and from a banking perspective.
•  To know the concept of insurance, its characteristics, the pros and cons, its different divisions, and when the risk is insurable.
•  . To distinguish the legal principles of insurance contracts.
•  To distinguish the difference between the net premium and the actual premium and calculate both.
•  To calculate the value of compensation in its various cases when the danger is realized in legal contracts.
•  To enumerate the functions of insurance companies.
•  To identify the types of insurance companies.

Course Contents:

 The concept of risk, its types, causes, methods of quantifying it and ways to confront it.

•  Risk management in the modern concept and banking risk management from an insurance perspective.
•  Definition of insurance, the advantages of insurance, its costs on society, its various classifications, and the requirements for insurable risks.
•  Basic legal principles of insurance contracts.
•  The concept of general insurance and the calculation of the net premium and the commercial premium.
• Duties and functions of insurance companies.
•  Insurance bodies and institutions.

Course ID: FIN361