FIN263 : Insurance basics

Department

Department of Financing and Banking

Academic Program

Bachelor in Finance and banking

Type

Compulsory

Credits

03

Prerequisite

FIN160

Overview

The course is concerned with introducing the student to the basics of insurance, the characteristics of insurance and the types of insurance companies, as well as defining the motives for dealing with insurance companies and the basic elements of the insurance transaction contract.

Intended learning outcomes

A. Knowledge and understanding:

  • To familiarize the student with the basics of insurance.
  • To familiarize the student with the types of insurance companies.
  • To familiarize the student with the motives for dealing with insurance companies and the basic elements of the insurance transaction contract.
  • B. Mental skills:
  • That the student be able to understand the nature of the basics of insurance.
  • The student's ability to know the types of insurance companies.
  • The student's ability to know the motives for dealing with insurance companies and the basic elements of the insurance transaction contract.
  • c. Scientific and professional skills:
  • The student should apply electronic software and contemporary technologies in the field of insurance.
  • To master the types of insurance companies.
  • That the student master the skill of writing scientific and practical reports and how to deal with insurance companies.

D. General skills:

  • The student should be able to solve problems and make decisions.
  • The student should be able to lead, supervise and work with a team.
  • The student should be able to communicate and interact with others.

Teaching and learning methods

  1. lecture.
  2. Research papers.
  3. Practical cases and exercises.

Methods of assessments

  1. Midterm exam 20%.
  2. Research paper 10%.
  3. Activity 10%.
  4. Final exam 60%.

Course content

Number of hours

scientific subject

Week

3

The origins of insurance, its importance, the concept of risk and its various divisions.

1

6

Types of danger, its causes, sources of danger, and the burden of danger on society.

2-3

3

Measuring risk and the risk relationship with the probability of loss.

4

3

Risk management policies and ways to face the risk.

5

6

The definition of insurance, the insurance contract, the pillars of the insurance contract, and the main characteristics of the insurance.

6-7

3

Sections of insurance and legal principles of the insurance contract.

8

3

Types of life insurance policies that cover the risk of death.

9

6

General insurance, fire insurance, marine insurance and their risk concept.

10-11

3

Types of marine insurance policies and stages of contracting marine insurance.

12

6

Insurance companies, their concept, importance and functions of insurance companies.

13-14