Insurance
Risk influences decisions in every business and industry, making insurance essential to protecting people, organizations and communities. The Insurance minor helps students understand how insurance supports effective risk management while introducing them to the many functions and career paths within the field.
Designed for students across disciplines, the minor creates an interdisciplinary learning environment enriched by a range of academic perspectives. Through 15 credit hours of required and elective coursework, students gain specialized knowledge that complements their major and prepares them to contribute across the insurance industry.
Curriculum requirements
Before taking the minor courses, it is required that each student takes the following courses:
College algebra (Math 1130 or 1148 or equivalent or higher) or placement in M, or L
Microeconomics (Econ 2001.01 or equivalent)
The Insurance minor consists of a total of 15 credit hours, 6 of which are required and 9 of which are elective. The required courses are as follows:
BUSFIN 3300 - Introduction to Insurance and Risk (3 credit hours): Basic principles and main characteristics of the Insurance Industry and the fundamentals of risk identification, insurance contracts, and annuities.
BUSFIN 4310 – Commercial Property & Casualty Insurance (3 credit hours): Fundamentals of commercial property and liability insurance, including commercial property and liability contracts, and the regulation and financial analysis of property and liability insurers.
Each student has to fulfill 9 elective credit hours. Students will be encouraged to take courses from each of the three disciplines represented, but it is not required.
BUSFIN 4311 – Life and Health Insurance: Basics of the life insurance and health insurance industry and contracts.
BUSFIN 4312 – Employee Benefits Plans (3 credit hours): Fundamentals of insurance topics related to the human resource function such as health and retirement benefits, and COBRA.
BUSFIN 4315 – Insurance Operations (3 credit hours): Examines the major operations of property and casualty insurers and issues facing managers of such operations.
BUSFIN 4265 – Financial Institutions (3 credit hours): Financial Institutions play an extremely important role in the functioning of the global economy and in the operation of our firms. When financial institutions fail to act properly the results can be catastrophic, both for financial markets and greater society as a whole.
BUSFIN 3400 – Intro to Real Estate (3 credit hours): Examine the economics of property rights, the fundamental theories in urban economics, and selected applications.
BUSFIN 4411 – Property Management (3 credit hours): Basic topics related to property management such as acquisition, construction, and supporting business functions.
BUSOBA 4234 – Service Operations (3 Credit Hours): Surveys a broad framework of key operations management challenges, while also focusing on a broad variety of different services via in-depth case studies.
ACCTMIS 3400 – Tax Accounting I (3 credit hours): Fundamentals of the federal income tax, and how it influences taxpayer decisions. Emphasis is on the individuals and businesses organized as proprietorships, but rules generally applicable to all taxpayers are covered.
BUSMHR 4326 – Compensation and Benefits Administration (3 credit hours): Provides a comprehensive framework and state-of-the art tools for designing compensation systems via assessment of organizational needs, internal and external equity, and compensation administration.
ECON 5860 – Health Economics (3 credit hours): An introductory course to the field of health economics. Students will apply concepts from introductory and intermediate microeconomics to problems that are faced in health and medical care. The focus is on individual demand for medical care; health insurance; markets for, and institutional features of, health care providers; measuring and pricing quality, and healthcare reform.
CSCFFS 3260 – Family Financial Management: Theory and Practice (3 credit hours): Introduction to the practice and profession of family financial planning process, emphasizing the data collection, communication, and technical skills required of the financial planner.
CSCFF 4260 – Family Tax Planning (3 credit hours): Analyze and evaluate financial decisions by families at various points in family life cycle, apply economic principles and understanding of basic tax policy to family financial decisions.