Finance 341: Property-Liability Insurance Instructor: Stephen D

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Finance 341Property-Liability
InsuranceInstructorStephen DArcyTeaching
AssistantBrooke MillerLecture 1Introduction
and Course Organization
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General Course Information

• Prerequisite
• Basic knowledge of insurance terminology and
  personal lines coverage (Fin 260)
• Course focus - three components
• Insurance Operations
• Commercial Property and Liability Exposures and
  Coverages
• Current Events

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Insurance Operations

• Overview of Industry and Profit Measures
• Marketing (Roger Schultz)
• Distribution Systems
• Underwriting (Mike Myers)
• Claims (Donna Rosemeyer)
• Ratemaking (James Smieszkal)
• Loss Reserving
• Reinsurance (Ted Barczak)

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Commercial Exposures and Coverages

• Commercial Property Insurance
• Commercial Liability Insurance
• Excess and Umbrella Policies
• Professional Liability
• Workers Compensation and Employers Liability

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Current Events Examples

• World Trade Center Attack
• Directors and Officers Liability Coverage
• Medical Malpractice Coverage
• Mold
• Insurance Securitization
• Off-Shore Insurers
• Insurance Solvency
• Credit Enhancement Coverage

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Required Textbook

• Risk Management and Insurance by Pritchett,
  Schmit, Doerpinghaus and Athearn (Seventh
  Edition) (Fin 260 Text)

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Optional TextbooksOn Reserve in the
Undergraduate Library

• Insurance Operations by Webb, Harrison, and
  MarkhamVolumes I and II
• Commercial Liability Risk Management and
  Insurance by Malecki, Horn, Wiening, and Flitner
  Volume II

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Course Websitehttp//www.cba.uiuc.edu/s-darcy/f
in341/2003/index.html

• The site contains the syllabus, lecture notes
  (posted about one week prior to class), class
  projects (after covered in class), assignments
  (approximately one week prior to due date) and
  keys (after the due date).

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General Purpose of Course

• Fin 260 covered what every consumer needs to know
  about insurance.
• This class covers what someone intending to work
  in the insurance industry, as a risk manager, or
  as a corporate insurance buyer needs to know
  about the industry.

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What You Should Know Now

• Class Project 1

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Whats next?

• Eight lectures on the general structure of
  insurance companies and functions within the
  company.
• Review and first exam.
• Nine lectures on commercial property and
  liability coverages and workers compensation.
• Review and second exam.
• Six lectures on current events.
• Review and final exam.