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2024-2025 Academic Catalog
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IRM 221 - Principles of Insurance and Risk Management
3 Credit Hour(s)
An introduction to the concept of risk, the process of risk management, and the field of insurance, including fundamental doctrines, historical background, social value, economic influence, loss exposures and protection, insurance regulation, insurance carriers, reinsurance, marketing, underwriting and claims adjusting. This course includes examination of the Michigan Essential Insurance Act and how this law addresses the social responsibility of the insurance business and its attempt to address social injustice. This course will also help students prepare for the AINS 21 national examination administered by the Insurance Institute of America.
Prerequisite(s): BUS 212 Recommended
Offered: Fall and Spring
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