This course develops an understanding of insurance and risk management. Students are exposed to insurance industry functions such as selling/distributing insurance, underwriting insurance policies, adjusting losses, reinsuring risk, and elements needed to form an insurance contract. They will learn about the various dynamics of the insurance industry, the underwriting process, and types of insurance. This course also exposes students to an understanding of risk, the main structure of risk models and how the risk can be measured, why it is interested in individuals, and why companies are at risk. Other topics include insurance operations and regulations, and reinsurance. It further explains the principles of insurance products such as individual homeowners, automobile, life, and health insurance.