The Purpose of the "Courses" Page

RM 302 Risk Management and Insurance covers the risk management process used by organizations to deal with the risks that they face with an emphasis on the types of risk commonly handled through the commercial insurance market. It addresses the costs and benefits of risk management, the goals of the process and the methods available to handle risks. 

Sustainability questions to consider: 

• How are regulations like those pertaining to environmental, social and governance risks integrated into the corporate ERM function?
• How does the enterprise risk management process address the issue of climate change?
• How are the objectives of sustainability consistent with the objectives of corporate risk management?

RM 410 Financial Mathematics for Actuaries focuses on Interest Theory, including compound interest, annuities- certain, and life annuities; equations of value; loans and their valuation; the pricing of bonds (with and without default), determining their yields to maturity and outstanding balances; determination of yield rates, spot rates, forward rates, and At-Par rates; duration of an asset or liability, and immunization of interest rate risk. The second section of the course introduces students to derivatives. 

Sustainability questions to consider: 

• How does the proper pricing of annuities and other long term insurance products support the financial sustainability of insurance companies? 
• Why should a diverse portfolio of bank loans include mortgages in neglected neighborhoods? 
• Explain how investments in sustainable companies can be included in an insurer’s asset portfolio. 

RM 411 Long Term Actuarial Mathematics – Fundamentals gives students the opportunity to study the mathematical theory of life contingencies, single-life functions, and their applications. The course provides a solid understanding of the mathematics of life insurance and annuities. 

RM 422 Short Term Actuarial Mathematics – Fundamentals covers joint-life and survivor-life functions, population life tables, and multiple decrement theory, with applications to disability and retirement problems. 

Sustainability questions to consider: 

• How do life contingent contracts achieve personal financial sustainability?
• How can insurers use premiums and policy values to make their portfolios of life insurance policies more sustainable?
• How should benefits (such as disability income insurance and pension benefits) offered by employers be valued and how do they affect the employers’ business sustainability?

RM 430 Life and Health Insurance covers industrial organization of the US life-health insurance industry; economic issues related to organizational structure, operational functions, and the supply and demand for life-health products. 

Sustainability questions to consider: 

• Is climate change affecting human mortality? 
• Do corporate stakeholders value the money that insurers spend on sustainability? 
• How do the differences between stock and mutual insurers impact their corporate governance?