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RMIN 2500.004 –Online

PRINCIPLES OF RISK MANAGEMENT AND INSURANCE

FALL 2017

Instructor: Dale Sharpe Jenkins, M.S., CIC, AINS

Class website:

https://learn.unt.edu/ Email:

dale.sharpejenkins@unt.edu

Phone: (817) 706 8481

Office Hours: By Telephone; Monday and Wednesday 8:00 am – 10:00 am. I will be available for your phone call. If you do no reach me, leave a message and the call will be returned during office hours.

Required Textbook

Principles of Risk Management & Insurance, (13th Edition) by George E. Rejda and Michael J. McNamara.

ISBN 13: 978-0-13-408257578

Course Description

Study of basic risk theory, risk management techniques, fundamental principles of insurance and insurance

company operations. Overview of insurance contracts and examination of the personal lines home and auto

policies and major commercial lines policies.

For RMI majors, this course serves as a basis for more advanced courses. Students are expected to comprehend

key insurance terminology and contract features; to acquire the knowledge, judgment, and expertise to

understand the risk management process; to fully understand property and liability loss exposures.

Access to Class

You can access the course at https://learn.unt.edu/

Login using your EUID and password under “Course Login”

Click “RMIN 2500” from the list of courses

Please note that Blackboard relies heavily on electronic technologies for online courses, and technology isn't

100% reliable. It is each student’s responsibility to complete homework assignments and take exams in a

location with a reliable computer and internet connection. Sometimes, a problem can be easily resolved.

However, if problems do occur and persist, please contact Student Support staff at helpdesk@unt.edu or give the

helpdesk a call at (940) 565- 2324. Please note:

“Every Saturday night from 11:00 PM until 2:00 AM CDT Sunday morning, Blackboard Learn is NOT

available due to its regular system maintenance”.

Course Materials

Introduction to Risk Management & Insurance (13th Edition) by George E. Rejda and Michael J. McNamara. .

Additional reading material and videos posted in Blackboard

Online magazine article publications; links provided in Blackboard

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Lectures posted in Blackboard

Course Announcements and Communications

Information that needs to be communicated to the entire class will be done so through Blackboard, Course

Announcements. The best manner of communication for students to communicate with the instructor is via

email. If you email me, please make sure to include “RMIN 2500.004” in the subject line; when you do so this

will reduce (not necessarily eliminate) the risk of your important message getting filtered into spam or junk

folders by the system administrator. Generally speaking, emails will be responded to by the next business day.

In cases where you need more timely assistance please call my office at (940) 565 3620 and leave a message

with your name, the best number to reach you and details about what issues you want to address. Under normal

circumstances, you can expect a return call by the next business day. If I return the call and you do not respond,

I’ll assume that you no longer need assistance.

Attendance and Participation

Blackboard enables us to track whether and when you visit various areas of the course site, login times, total

number of login sessions, total amount of time online and number of discussion postings. We reserve the

right to drop students with very poor access.

Zip Code Survey

To better serve students who have a need for taking classes online, the University may collect some basic

information via the “Zip Code Survey” which I strongly encourage you to take. The Survey will be posted in

Blackboard when it becomes available.

Netiquette

Netiquette is network etiquette; it is a set of rules for behaving properly online. Students are required to understand and adhere to netiquette while interacting with others in this course. You can review the rules at http://www.albion.com/netiquette/corerules.html . Please review them carefully. You will be asked a question

pertaining to netiquette on your graded homework assignment for Week One.

Disability Accommodation

The University of North Texas is on record as being committed to both the spirit and letter of federal equal

opportunity legislation; reference Public Law 92-112 – The Rehabilitation Act of 1973 as amended. With the

passage of new federal legislation entitled Americans with Disabilities Act (ADA), pursuant to section 504 of

the Rehabilitation Act, there is renewed focus on providing this population with the same opportunities enjoyed

by all citizens.

As a faculty member, I am required by law to provide "reasonable accommodations" to students with

disabilities, so as not to discriminate on the basis of that disability. Student responsibility primarily rests with

informing faculty of their need for accommodation and in providing authorized documentation through

designated administrative channels. Information regarding specific diagnostic criteria and policies for obtaining

academic accommodations can be found at http://www.unt.edu/oda/apply/index.html. Also, you may visit the

Office of Disability Accommodation in the University Union (room 321) or call them at (940) 565-4323.

If you need an accommodation, please contact me promptly during the first week of class.

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Special Note about Blackboard Learn

Blackboard Learn is committed to making certain that online courses are open and accessible to people with

disabilities. As a result, Blackboard Learn complies with Section 508 of the United States Rehabilitation Act of

1973, enabling people with disabilities and those using assistive technologies, such as screen readers, to fully

use the software.

Academic Dishonesty

Academic dishonesty is defined in the UNT Policy on Student Standards for Academic Integrity. Any suspected

case of Academic Dishonestly will be handled in accordance with the University policy and procedures.

Possible academic penalties include a grade of “F” in the course. You will find the policy and procedures at

http://vpaa.unt.edu/academic-integrity.htm

If I suspect that you have engaged in academic dishonesty, I will deal with the situation as outlined in the

University Policy mentioned above. You will be allowed to remain in the class during the entire time that the

academic misconduct accusation is being investigated, adjudicated, and appealed. As noted above, the

maximum academic penalty that can be assessed by an instructor is an F in the course. However, university

officials use the academic misconduct information to decide if other misconduct sanctions are then to be

applied, and the student has separate rights to appeal those decisions, remaining in the class until all appeals are

exhausted.

You will be asked to agree to an ethics statement that outlines the ethical principles you are expected to adhere to

throughout this course. The ethics statement will be made available to you on our course homepage. As stated

earlier, on Graded Quiz 1, you will be asked in one of the questions whether you have read and agree to this

statement.

Student Perceptions of Teaching (SPOT)

Student feedback is important and an essential part of participation in this course. The student evaluation of

instruction is a requirement for all organized classes at UNT. The short SPOT survey will be made available to

provide you with an opportunity to evaluate how this course is taught. You will receive an email from "UNT

SPOT Course Evaluations via IASystem Notification" (no-reply@iasystem.org) with the survey link. Please

look for the email in your UNT email inbox. Simply click on the link and complete your survey. Once you

complete the survey you will receive a confirmation email that the survey has been submitted. For additional

information, please visit the spot website at www.spot.unt.edu or email spot@unt.edu .

Eagle Connect Account

All students should activate and regularly check their EagleConnect (e-mail) account. EagleConnect is

used for official communication from the University to students. Many important announcements for the

University and College are sent to students via EagleConnect. For information about EagleConnect,

including how to activate an account and how to have EagleConnect forwarded to another e-mail address,

visit https://eagleconnect.unt.edu/

Notice to F1 Visa Holders

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For F–1 students enrolled in classes for credit or classroom hours, no more than the equivalent of one class or

three credits per session, term, semester, trimester, or quarter may be counted toward the full course of study

requirement if the class is taken on-line or through distance education and does not require the student's

physical attendance for classes, examination or other purposes integral to completion of the class. An on-line

or distance education course is a course that is offered principally through the use of television, audio, or

computer transmission including open broadcast, closed circuit, cable, microwave, or satellite, audio

conferencing, or computer conferencing. If the F–1 student's course of study is in a language study program,

no on-line or distance education classes may be considered to count toward a student's full course of study

requirement [Title 8 CFR 214.2 Paragraph (f)(6)(i)(G)].

University of North Texas Compliance. To comply with immigration regulations, an F-1 visa holder within

the United States may need to engage in an on-campus experiential component for this course. This

component (which must be approved in advance by the instructor) can include activities such as taking an

on-campus exam, participating in an on-campus lecture or lab activity, or other on-campus experience

integral to the completion of this course. If such an on-campus activity is required, it is the student’s

responsibility to do the following: (1) Submit a written request to the instructor for an on-campus

experiential component within one week of the start of the course. (2) Ensure that the activity on campus

takes place and the instructor documents it in writing with a notice sent to the International Student and

Scholar Services Office. ISSS has a form available that you may use for this purpose. F-1 Visa holders will

be required to attend weekly scheduled office visits throughout the term.

Because the decision may have serious immigration consequences, if an F-1 student is unsure about his or

her need to participate in an on-campus experiential component for this course, s/he should contact the UNT

International Student and Scholar Services Office (telephone 940-565-2195 or email

internationaladvising@unt.edu) to get clarification before the one- week deadline.

Discussion Board

The Discussion Board (DB) assignments are designed to help you apply the reading material to topics and issues

faced by professionals in the risk management and insurance industry today. Your participation in the DB

conversations is required and will be graded. There is one DB assignment each week except for exam weeks.

The first Discussion Board assignment is titled Introductions and Personal Perspective of Risk Taking. This is

the only Discussion Board assignment that will involve the entire class and take place in the general DB. The

general DB area can be accessed by clicking on “Discussions” located on the Course Menu in Blackboard. For

the remaining DB conversations, you have been randomly placed in a Group of 5 – 6 students and must access

the weekly DB within your Group. Group Discussion Board assignments can be accessed by clicking on Users

and Groups under Course Management in the Blackboard menu.

Discussion Board assignments open by midnight Sundays and close the following Fridays at 11:59 pm. With

the exception of the first DB assignment (Introductions & Personal Perspective of Risk) you will be required to

make at least two posts per week as well as answer any follow up questions posed by the instructor. The initial

post will be your response to the prompt/question(s) raised by the instructor and it is due by 11:59 pm on

Wednesdays. The second post will be your comment on another classmate’s post. The second post is due on

Fridays by 11:59 pm. Any additional questions raised by the instructor will be posted by Thursday. If the

instructor raises additional questions in the discussion you must respond to those as well by the Friday deadline.

Please see Blackboard for additional information regarding Discussion Board assignments. Your average grade

for Discussion Board assignments will make up 25% of your final grade.

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Reading Assessment Homework

There will be weekly homework assignments beginning Week One for a total of 14 assignments throughout the

term. The homework assignments are located in Blackboard. They will open midnight on Sundays and close on

Fridays at 11:59 pm. The assignments are designed to test your understanding of the reading material and

therefore the correct answers come from your reading assignments. The homework assignments consist of a

mix of multiple choice, fill in the blank and matching questions.

Your average grade for all homework will represent 15% of your final course grade.

Midterm and Final Exams

There will be three (3) midterm exams during the semester and one (1) final exam. The exams will cover the

weekly learning objectives. The average of your score on the midterm exams represents 25% of your final

grade. The final is comprehensive and will represent 35% of your final grade. All exams are administered

through Blackboard. Midterm exams are scheduled as follows:

Exam One – Opens 12:00 am 10/4/17; Closes 11:59 pm 10/4/17

Exam Two – Opens 12:00 am 10/23/17; Closes 11:59 pm 10/23/17

Exam Three – Opens 12:00 am 11/21/17; Closes 11:59 pm 11/22/17

The final exam will be available:

12:00 AM Sunday, December 10, 2017 until 11:59 pm Wednesday December 13, 2017.

No make-up exams will be allowed.

Grades

The course grade will be determined by adding your average grade for DB, Homework and Midterms to your

Final Exam. To calculate your final grade:

(Average of DB x .25) + (Average of Homework x .15) + (Average of Midterm Exams x .25) + (Final

Exam Score x .35) = Final Average

Reminder…if this class is in your major, you must earn a “C” to pass.

Course grade is determined as follows:

FINAL AVERAGE LETTER GRADE

90 – 100 A 80 – 89.9 B 70 – 79.9 C 60 – 69.9 D

UNDER 60 F

The instructor reserves the right to curve final grades if it is deemed appropriate.

Issues: if a student has any issue regarding grading or assignments, please contact the instructor within one business day of the grade being released in the grade book. Please do not wait until

the semester ends when it is too late to consider any recourse.

While you are allowed to use your textbook and refer to Blackboard materials in completing the exams, you are NOT allowed to get help from other students.

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Important Note: There will be no makeup work for missed assignments, discussions or exams. Utilization

of the calendar functions on your personal phones or emails to set up reminders about course deadlines is

highly recommended.

Course Organization

Several folders have been set up in Blackboard. The folders are located within the “Course Content” section

in Blackboard. By clicking on “Course Content” on the menu to the left in Blackboard, you will be able to

access the folders. These are the folders you should be able to access:

Course Introduction. In this folder you will find an overview of the course, the course syllabus, and

additional information regarding Discussion Board instructions and expectations.

College of Business Opportunities. There are many opportunities for scholarships, internships, jobs and

conferences that are available to College of Business students. In this folder you will find information on these opportunities along with dates and application deadlines.

Weekly Folders. This is a fifteen (15) week course. A weekly folder for each of the 15 weeks is set up in

Blackboard. The folders will be available for your viewing and access in Blackboard each Sunday at midnight.

Within the contents of the weekly folder, each week you will find the following pertaining to instructions and

your responsibilities for the week:

Learning Objectives

Required Reading Assignment - including additional reading material

Instructions for Discussion Board - including links to required reading material for discussion

A link to all Reading Assessment Homework

Optional videos, YouTube presentations, power points to assist with understanding weekly learning

objectives

WEEKLY SCHEDULE OF REQUIRED READING; READING ASSESSMENT HOMEWORK;

DISCUSSION BOARD TOPICS and LEARNING OBJECTIVES

Week One: A Brief Summary of the History of Risk

Activity Description Due Date

Reading Assignment

Against the Gods; The Remarkable Story of Risk/

Peter L. Bernstein (Located in Blackboard)

Introduction Pages 1 – 8

8/31/17

Learning Objectives: 1. A general understanding of how historical

perspectives of risk have changed and influenced

modern thinking about decision making

2. Knowledge of some key historical figures and

their contribution to the study of risk management

Discussion Board Introduction and Personal Perspective of Risk

Taking 1st Post

Submit before: 11:59

pm 8/31/17

2nd Post Not required

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm 9/1/2017

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Week Two: Definitions and Classifications of Risk

Activity Description Due Date

Reading Assignment

Principles of Risk Management & Insurance, Rejda

and McNamara (PRMI Textbook) - Chapter 1, Pages

1 - 13

9/6/17

Learning Objectives: 1. Explain the difference between objective Risk

and subjective Risk

2. Explain objective and subjective probability

3. Define and understand key terms:

o Loss Exposure,

o Chance of Loss

o Peril,

o Hazard,

4. Explain how risks are categorized as:

o Pure

o Speculative

o Diversifiable

o Non diversifiable

o Enterprise risk

o Systemic risk

5. Give examples of various types of hazards

Discussion Board Current and Emerging Risks 1st Post

Submit before:

11:59 pm 9/6/17

2nd Post

Submit before:

11:59 pm 9/8/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm 9/8/17

Week Three: Introduction to Risk Management

Activity Description Due Date

Reading Assignment

PRMI Textbook - Chapter 3 9/13/17

Learning Objectives: 1. Define Risk Management

2. Understand and Explain Risk Management Pre-

Loss and Post Loss Objectives

3. Describe the Steps in the Risk Management

Process

4. Explain the Major Risk Control Techniques

5.Explain the Major Risk Financing Techniques

6. Understanding the Importance of Identifying Loss

Exposures in the Management of Risk

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Discussion Board Indentifying Loss Exposures 1st Post

Submit before:

11:59 pm 9/13/17

2nd Post

Submit before:

11:59 pm 9/15/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm 9/15/17

Week Four: A Brief History of Insurance

Activity Description Due Date

Reading Assignment

Against the Gods; The Remarkable Story of Risk/

Peter L. Bernstein, Pages 73-77; 84-top of 86; 88 - 95

9/20/17

Learning Objectives: 1. Develop knowledge of the history of modern day

insurance

2. Understand the use of stratified and random

sampling in insurance

Discussion Board Benefits and challenges of using sampling in

insurance selection 1st Post

Submit before:

11:59 pm 9/20/17

2nd Post

Submit before:

11:59 pm 9/22/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm

9/22/2017

Week Five: Insurance and Risk

Activity Description Due Date

Reading Assignment PRMI Textbook - Chapter 2, and Chapter 4 bottom

of page 74 – top of page 78

9/27/17

Learning Objectives: 1. Explain the basic characteristics of insurance

2. Explain the Law of Large Numbers

3. Describe the Characteristics of an Ideally Insurable

Risk

4. Describe the Major Types of Insurance

5. Explain the Social Benefits and Costs of Insurance

6. Describe the impact of the underwriting cycle and

consolidation in the insurance industry on the practice

of risk management

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Discussion Board Insurance Characteristics and Ideally Insurable Risks 1st Post

Submit before:

11:59 pm 9/27/17

2nd Post

Submit before:

11:59 pm 9/29/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm 9/29/17

Week Six: Insurance Company Operations

Activity Description Due Date

Exam 1

In Blackboard

Covers Material from Weeks 1 – 5

Submit before:

11:59 pm 10/4/17

Reading Assignment

PRMI Textbook, Chapter 5, pgs 98–102 & Chapter 6 10/7/17

Learning Objectives: 1. Describe and Explain:

The Rate Making Function of Insurers

The Underwriting Process

The Sales and Marketing Activities of

Insurers, and

The Steps in the Claims Process

2. Explain What Reinsurance Is and Its Use and

Purpose

3. Explain the Importance of Insurance Company

Investments

Discussion Board No Discussion Board this Week

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm

10/7/2017

Week Seven: Financial Operation of Insurers

Activity Description Due Date

Reading Assignment PRMI Textbook - Chapter 7 10/11/17

Learning Objectives: 1. Understand the three major sections of the balance

sheet for a property and casualty insurance company

2. Identify the sources of revenues and types of

expenses incurred by a property and casualty

insurance company

3. Explain how profitability is measured in the P&C

industry using ratios

4. Explain how profitability is measured in the life

insurance industry

5.Explain the Objectives of Rate Making in Property

and Casualty Insurance

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Discussion Board Insurance Company Operations in the Future 1st Post

Submit before:

11:59 pm 10/11/17

2nd Post

Submit before:

11:59 pm 10/13/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm

10/13/2017

Week Eight: Government Regulation of Insurance

Activity Description Due Date

Reading Assignment

PRMI Textbook - Chapter 8

Texas Department of Insurance (TDI) website -

Assigned pages in Blackboard

10/18/17

Learning Objectives: 1. Explain the major reasons why insurers are

regulated

2. Identify key legal cases and legislative acts that

have had an important impact on insurance regulation

3. Identify the major areas of insurance that are

regulated

4. Explain the major arguments for and against state

regulation of insurance

5. Explain the objectives of rate regulation and types

of rating laws

Discussion Board State vs. Federal Regulation 1st Post

Submit before:

11:59 pm 10/18/17

2nd Post

Submit before:

11:59 pm 10/20/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm

10/20/2017

Week Nine: Legal Principles of Insurance and Analysis of Insurance Contracts

Activity Description

Due Date

Exam 2 In Blackboard

Covering Material from Weeks 6 - 8

Submit before:

11:59 pm 10/25/17

Reading Assignment

PRMI Textbook - Chapter 9, pages 171 – 181 and

Chapter 10

10/28/17

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Learning Objectives: 1. Explain the fundamental legal principles reflected

in insurance contracts

2. Explain the legal concepts of representations,

concealment and warranty and how they affect

insurance transactions

3. Describe the basic requirements for the formation

of a valid insurance contract

4. Explain how insurance contracts differ from other

contracts

5. Identify the basic parts of an insurance contract

Explain the meaning of insured” in an insurance

contract

6. Explain the purpose and how coinsurance works in

a property insurance contract

7. Explain how losses are paid when more than one

insurance contract covers the same loss

Discussion Board No Discussion Board

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm

10/28/2017

Week Ten: The Liability Risk

Activity Description Due Date

Reading Assignment

PRMI Textbook - Chapter 19 11/1/17

Learning Objectives: 1. Define and Explain the Elements of Negligence

2. Identify and Explain Defenses Used in a Lawsuit

3. Understand how the law of negligence applies in

difference liability situations

4. Explain the issues effecting tort liability system

Discussion Board Issues of negligence related to cyber liability 1st Post

Submit before:

11:59 pm 11/1/17

2nd Post

Submit before:

11:59 pm 11/3/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm

11/3/2017

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Week Eleven: Personal Auto Insurance

Activity Description Due Date

Reading Assignment

PRMI Textbook - Chapter 20 11/8/17

Learning Objectives: 1. Identify the parties that are insured for liability

coverage under the Personal Auto Policy (PAP)

2. Describe the liability coverage in the PAP

3. Explain the medical payments coverage in the PAP

4. Describe the uninsured motorists coverage in the

PAP

5. Explain the coverage for damage to your auto in

the PAP

6.Explain the duties imposed on the insured after an

accident or loss

Discussion Board Current Trends in Personal Auto Loss Exposures and

Insurance 1st Post

Submit before:

11:59 pm 11/8/17

2nd Post

Submit before:

11:59 pm 11/10/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm 11/10/17

Week Twelve: The Homeowners Policy

Activity Description Due Date

Reading Assignment

Principles of Risk Management & Insurance, Rejda

and McNamara, Chapter 22 and Chapter 23 pages

505- 513

11/15/17

Learning Objectives: 1. Identify the major homeowners policies for

homeowners, condominium owners and renters

2. Explain the major provisions in Section I and

Section II of the Homeowners 3 policy

3. Explain the insured’s duties after a loss occurs

4. Explain and illustrate the loss settlement provisions

in the HO3 policy

5. Identify major exclusions found in Section II of the

HO3 policy

Discussion Board Current Trends in Homeowners Insurance 1st Post

Submit before:

11:59 pm 11/15/17

2nd Post

Submit before:

11:59 pm 11/17/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm

11/17/2017

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Week Thirteen

Activity Description Due Date

Exam 3 In Blackboard

Covering Material from Weeks 9 - 12

Submit before:

11:59 pm 11/22/17

Week Fourteen: Overview of Commercial Insurance

Activity Description Due Date

Reading Assignment

PRMI Textbook – Chapter 25 pgs. 549 – 552 and

Chapter 26 pgs. 577 - 593 11/29/17

Learning Objectives: 1. Explain the basic components of the commercial

package policy

2. Explain the basic provisions of the building and

personal property policy

3. Identify the major liability loss exposures of

businesses and organizations

4. Describe the basic coverage provided by

Commercial General Liability policy, Workers

Compensation policy and Business Auto policy

Discussion Board The Risk Manager and Insurance Broker 1st Post

Submit before:

11:59 pm 11/29/17

2nd Post

Submit before:

11:59 pm 12/1/17

Reading Assessment

Homework

In Blackboard Submit before:

11:59 pm 12/1/17

Week Fifteen:

Week Fourteen Topic:

Activity Description Due Date

Reading Assignment

Against the Gods; The Remarkable Story of Risk/

Peter L. Bernstein, Chapter 19

12/6/17

Learning Objectives: Identify broad issues related to decision making under

uncertainty

Discussion Board Open Discussion on Topics and Class 12/6/17

Reading Assessment

Homework

No Homework Assignment

Study for Final