Insurance Economics
This subject enables students to master the most important economic and technical basis of insurance as a form of economic protection of individuals, businesses and other institutions from sudden and unexpected adverse events. The program structure offers a comprehensive view of development of domestic insurance theory and practice, and contemporary foreign experiences and achievements in terms of successful management of risks whose occurrence can affect individuals, businesses and institutions, as well as society as a whole.
| Code : | 1ЕО |
|---|---|
| Status: | C |
| Semestar: | 8th |
| Number of classes per week: | 4+2 |
| ЕECTS: | 8 |
| Teachers: | |
| Prerequisites: | |
| Learning Outcomes (gained knowledge): | The students are gaining and developing knowledge and abilities that enable them to individually organize, coordinate, monitor and supervise the activities of certain segments of the insurance industry, both in the field of economy and in the state institutions and regulatory bodies. Assuming that insurance is a specific type of industry that business operations of insurance companies are subject to a number of risks, uncertain by its origin and specific only for this field, mastering the offered matter can significantly mitigate or even neutralize the consequences of the occurrence of adverse events. |
| Subject Contents: | General characteristics of insurance, organizations of insurance, types of insurance, risk management, documents in insurance, property insurance, insurance of persons, life insurance, guarantee insurance, loan insurance, agriculture insurance, animal insurance, motor vehicle insurance, international conventions in the automobile liability insurance, coinsurance and reinsurance, calculation of retention and of the maximum possible damage, distribution of risk in reinsurance. |
| Teaching Methods and Learning Activities: | Lectures followed by presentations prepared with the application of modern information technology. Through illustrations, graphics and drawings this procedure allows students the visual display of the most important economic principles, thus achieving a higher degree of interest. At appropriate moments during the lectures examples of good practice are illustrated, which results in a special interest and involvement in the debate. During the exercises students work on the examples where, by the application of modern methods from foreign practice, they resolve the most complex tasks that, once they graduate they will encounter in practice. Particularly successful students take topics and prepare seminar papers that are presented in front of all students. |
| Literature: | Šipka, D. and Marovic, B. (2003). Insurance Economics. Banja Luka: Ekonomski fakultet |
| Types of Assessment for the subject: | Colloquium I (0-20 points); Colloquium II (0-20 points); Final exam (0-50 points); Attendance (2point); Class activities (seminar papers, discussions, case studies) (0-8 points) |
| Special Remarks for the subject: |