INSURANCE AND RISK PLANNING

FIN2IRP

Not currently offered

Credit points: 15

Subject outline

In this subject you will attain a basic understanding of the areas of insurance and the general management of risk. You will examine the range of personal, business and general insurance products and the advice and strategies used by financial planners to satisfy the needs of clients. You will be introduced to the areas of risk and various risk management techniques, the key types of insurances policies, policy documents, underwriting and claims handling procedures. The subject will also provide coverage of a range of risk management strategies utilised by business. There will be an emphasis placed on the application of knowledge into solving real-life issues and extensive use will be made of practical case-studies throughout this subject.

School: La Trobe Business School (Pre 2022)

Credit points: 15

Subject Co-ordinator: Greg Jamieson

Available to Study Abroad/Exchange Students: Yes

Subject year level: Year Level 2 - UG

Available as Elective: No

Learning Activities: Class room activities and tutorial questions.  Individual assignment and final exam.

Capstone subject: No

Subject particulars

Subject rules

Prerequisites: FIN1FOF OR ACC1AMD OR BUS1AFB

Co-requisites: N/A

Incompatible subjects: N/A

Equivalent subjects: N/A

Quota Management Strategy: N/A

Quota-conditions or rules: N/A

Special conditions: N/A

Minimum credit point requirement: N/A

Assumed knowledge: N/A

Career Ready

Career-focused: No

Work-based learning: No

Self sourced or Uni sourced: N/A

Entire subject or partial subject: N/A

Total hours/days required: N/A

Location of WBL activity (region): N/A

WBL addtional requirements: N/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

COMMUNICATION - Communicating and Influencing
DISCIPLINE KNOWLEDGE AND SKILLS
INQUIRY AND ANALYSIS - Creativity and Innovation
INQUIRY AND ANALYSIS - Critical Thinking and Problem Solving
INQUIRY AND ANALYSIS - Research and Evidence-Based Inquiry
PERSONAL AND PROFESSIONAL - Adaptability and Self-Management
PERSONAL AND PROFESSIONAL - Ethical and Social Responsibility

Intended Learning Outcomes

01. Describe and evaluate the advisory function of a financial planner as it relates to the provision of advice on insurance and risk management products and strategies.
02. Develop and understanding of the legal and regulatory framework that governs insurance products and the provision of advice on insurance products.
03. Analyse and critically evaluate a comprehensive set of client circumstances in order to identify the insurance and risk management needs and goals of a client.
04. Describe and evaluate the application of financial products commonly used to insure against, and manage, risk.
05. Research, evaluate and apply a range of insurance and risk management strategies appropriate to the needs and objectives of a client, in an ethical and professional manner.
06. Develop skills in report writing, financial modelling and the presentation of information to clients.
Subject not currently offered - Subject options not available.