Introduces risk management process used by individuals and organizations, with emphasis on risks commonly addressed through the commercial insurance market. The course explores the goals, methods, and cost-benefit considerations of managing risk, highlighting the role of insurance as a key risk mitigation tool. 

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?

Examines interest theory with a focus on compound interest, annuities (non-contingent), equations of value, loan and bond valuation, yield calculations, duration, and interest rate risk immunization. 

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 

A fundamentals course that Introduces the mathematical theory of life contingencies and single-life functions with applications to life insurance and annuities. Topics include survival models, present value calculations, and premium determination. 

RM 421: Short Term Actuarial Mathematics

A fundamentals course in short-term loss modeling focused on property, casualty, and health insurance. Topics include severity and frequency models, credibility theory, and methods for calculating premiums and reserves. 

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?

Explores the structure and operation of the U.S. life-health insurance industry, with emphasis on economic issues related to organizational design, business 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?