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Insurance I.

Type of study Bachelor
Language of instruction English
Code 154-0502/03
Abbreviation INS I.
Course title Insurance I.
Credits 5
Coordinating department Department of Finance
Course coordinator prof. Dr. Ing. Zdeněk Zmeškal

Osnova předmětu

1. Introduction to insurance.
2. Insurance – basic concept and insurance activities. Insurance systems (commercial and social insurance).
3. History of insurance and insurance development – basic developmental periods, insurance development in Czech Republic.
4. Insurance classification - Insurance classification from the basic points of view (business lines, territorial competence, insured risks, insurance benefits, etc.).
5. Insurance policy - contractual insurance, requisites of insurance policy, policy conditions, effect of insurance and termination.
6. Life insurance - characteristics, basic concept, role of life insurance in economics, premium, life insurance contracts. Term insurance.
7. Life insurance – pure endowment insurance, various types of life policies, endowment insurance. Participating policies, unit-linked policies and universal life policies.
8. Contracts of 3rd pension pillar – pension plan (characteristics, pension management companies, transformed funds, types of benefits, types of pensions, current situation in CZ).
9. Contracts of 3rd pension pillar– supplementary pension savings (characteristics, pension management companies, participation funds, types of benefits, types of pensions, current situation in CZ).
10. Nonlife insurance - characteristics, types of nonlife insurance. Role of nonlife insurance in economics.
11. Nonlife insurance – property insurance. Property insurance for physical persons, business risk insurance and industrial insurance, agricultural risks insurance.
12. Nonlife insurance – liability insurance. Mandatory liability insurance, mandatory contractual liability insurance, facultative contractual liability insurance. Motor third party insurance.
13. Nonlife insurance – insurance of persons. Accident insurance, private health insurance.
14. Assessment of insurance market – qualitative and quantitative ratios of assessing insurance market.

Povinná literatura

HARRINGTON, Scott and Gregory NIEHAUS. Risk Management and Insurance. 2nd ed. Mcgraw Hill, 2004.
KWON, W. Jean and Harold D. SKIPPER. Risk Management and Insurance: Perspectives in a Global Economy. Wiley-Blackwell, 2007.
THOYTS, Rob. Insurance Theory and Practice. Routledge, 2010.

Doporučená literatura

DORFMAN, Mark S. Introduction to Risk Management and Insurance. Prentice Hall, 2005.
OLIVIERI, Annamaria and Ermanno PITACCO. Introduction to Insurance Mathematics: Technical and Financial Features of Risk Transfers. Springer, 2011.
WÜTHRICH, Mario V. and Michael MERZ. Financial Modeling, Actuarial Valuation and Solvency in Insurance. Springer, 2013.