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Finance 341: Property-Liability Insurance Instructor: Stephen D’Arcy Teaching Assistant: Brooke Miller Lecture 1: Introd

Finance 341: Property-Liability Insurance Instructor: Stephen D’Arcy Teaching Assistant: Brooke Miller Lecture 1: Introduction and Course Organization. General Course Information. Prerequisite: Basic knowledge of insurance terminology and personal lines coverage (Fin 260)

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Finance 341: Property-Liability Insurance Instructor: Stephen D’Arcy Teaching Assistant: Brooke Miller Lecture 1: Introd

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  1. Finance 341:Property-Liability InsuranceInstructor:Stephen D’ArcyTeaching Assistant:Brooke MillerLecture 1:Introduction and Course Organization

  2. 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

  3. 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)

  4. Commercial Exposures and Coverages • Commercial Property Insurance • Commercial Liability Insurance • Excess and Umbrella Policies • Professional Liability • Workers Compensation and Employers Liability

  5. 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

  6. Required Textbook Risk Management and Insurance by Pritchett, Schmit, Doerpinghaus and Athearn (Seventh Edition) (Fin 260 Text)

  7. Optional TextbooksOn Reserve in the Undergraduate Library Insurance Operations by Webb, Harrison, and Markham;Volumes I and II Commercial Liability Risk Management and Insurance by Malecki, Horn, Wiening, and Flitner Volume II

  8. Course Websitehttp://www.cba.uiuc.edu/~s-darcy/fin341/2003/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).

  9. 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.

  10. What You Should Know Now Class Project #1

  11. What’s 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.

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