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DAF 1211: Principles of Risk Management and Insurance Notes

Institution: Mount Kenya University

Course: Bachelor of Commerce

Content Category: Lecture Notes

Posted By: PENTAMRK

Document Type: PDF

Number of Pages: 84

Price: KES 200
 
    

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Summary

Mount Kenya University

Bachelor of Commerce

DAF 1211: Principles of Risk Management and Insurance Notes

DAF1211: PRINCIPLES OF RISK MANAGEMENT AND INSURANCE
Purpose: To introduce students to the concepts of risk management and insurance key elements in business

Course Objectives: By the end of the course, students should be able to:-
Define general risks
Identify enterprise risks
Analyze risks
Describe risk management techniques
Effectively mitigate and manage business risks

Course Content:
Introduction to risks- definition of risk and risk management; objectives of risk management; The risk management statement and philosophy (risk policy); the risk management department; risk management process; concept of moral hazard and adverse selection
Risk identification- techniques of risk identification; physical inspection; checklist method; flow charts and organizational chart; HAZOP; other methods
Risk management methods
Risk management through Insurance- requisites for insurance; principles of insurance; practices of insurance.......................................................


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