Principles of Risk Management and Insurance

Intended primarily for undergraduate courses in Risk Management and Insurance, this text also provides practical content to current and aspiring industry professionals.

Principles of Risk Management and Insurance is the market-leading text, focusing primarily on the consumers of insurance, and blending basic risk management and insurance principles with consumer considerations.

The twelfth edition provides an in-depth treatment of major risk management and insurance topics. Coverage includes a discussion of basic concepts of risk and insurance, introductory and advanced topics in risk management, functional and financial operations of insurers, legal principles, life and health insurance, property and liability insurance, employee benefits, and social insurance. In addition, the new Affordable Care Act is discussed in depth.

I. BASIC CONCEPTS IN RISK MANAGEMENT AND INSURANCE
1. Risk and its Treatment
2. Insurance and Risk
3. Introduction to Risk Management
4. Advanced Topics in Risk Management

II. THE PRIVATE INSURANCE INDUSTRY
5. Types of Insurers and Marketing Systems
6. Insurance Company Operations
7. Financial Operations of Insurers
8. Government Regulation of Insurance

III. LEGAL PRINCIPLES IN RISK AND INSURANCE
9. Fundamental Legal Principles
10. Analysis of Insurance Contracts

IV. LIFE AND HEALTH RISKS
11. Life Insurance
12. Life Insurance Contractual Provisions
13. Buying Life Insurance
14. Annuities and Individual Retirement Accounts
15. Health Care Reform; Individual Health Insurance Coverages
16. Employee Benefits: Group Life and Health Insurance
17. Employee Benefits: Retirement Plans
18. Social Insurance

V. PERSONAL PROPERTY AND LIABILITY RISKS
19. The Liability Risk
20. Homeowners Insurance, Section I
21. Homeowners Insurance, Section II
22. Auto Insurance
23. Auto Insurance and Society
24. Other Property and Liability Insurance Coverages

VI. COMMERCIAL PROPERTY AND LIABILITY RISKS    
25. Commercial Property Insurance
26. Commercial Liability Insurance
27. Crime Insurance and Surety Bonds