University of Technology SydneyHandbook 2008

25718 Insurance Financial Management

Faculty of Business: Finance and Economics
Credit points: 6 cp

Subject level: Postgraduate

Result Type: Grade and marks

Handbook description

This subject develops an understanding of the financial management reporting processes in the general insurance industry, the changes that are occurring to those processes and the response of the industry to emerging issues.

Subject objectives/outcomes

On successful completion of this subject, students should be able to:

  1. Understand the contemporary financial management processes being utilised in the Australian general insurance industry.
  2. Evaluate the technical issues involved.
  3. Understand the theoretical issues involved in these processes.

Contribution to graduate profile

This subject introduces students to the financial management processes being utilised in the Australian general insurance industry. An appreciation will be obtained of the contemporary issues being encountered by the industry and the strategies for the management of these issues.

Teaching and learning strategies

The subject will be taught in a lecture/seminar format and will involve detailed consideration of case studies and the progressive development of a general insurer corporate model.

Content

  • The role of financial reporting and accounting in the general insurance industry
  • Premium accounting
  • Actuarial role in general insurance
  • Claims management accounting in general insurance
  • Reinsurance accounting issues
  • Treasury and investment portfolio management reporting and accounting
  • Contemporary taxation and management financial reporting issues.

Assessment

Class Test (Individual)25%
The class test is designed to assess students' understanding of the theories and concepts to demonstrate that students have met objective 1.
Assignment and Case Study (Individual)25%
This will assess students' understanding of the concepts of insurance financial management in a practical case study. This assignment will allow students to demonstrate that they have met objective 2 and 3.
Final Exam (Individual)50%
This exam will test students' understanding of the theory and their ability to apply the theory. This will enable students to demonstrate that they have met objectives 1-3.

Indicative references

Lamble, P.J., (1992) Accounting for the general insurance industry, Australian Accounting Research Foundation, Caulfield.