25829 Property Insurance

Faculty of Business: Finance and Economics
Credit points: 3 cp

Subject level: Postgraduate

Result Type: Grade and marks

Requisite(s): 25825 Principles of Risk and Insurance AND 25826 Risk Management
These requisites may not apply to students in certain courses.
There are also course requisites for this subject. See access conditions.

Handbook description

This subject develops an understanding of the fundamental principles of property insurance, underwriting and claims management. It directs attention to contemporary risk exposure and the related property insurance portfolio management issues.

Subject objectives/outcomes

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

Understand property risk exposures
Evaluate how to transfer risk exposures by way of the insurance mechanism
Understand the property insurance underwriting process, claims management strategies
Outline property insurance portfolio management issues and procedures
Understand contemporary property insurance related issues and their management.

Contribution to graduate profile

This 3-credit-point postgraduate subject introduces students to the concept of the use of the insurance mechanism in the management of various personal and corporate property risk exposures. The subject outlines the property underwriting and claims management processes.

The subject directs attention to the contemporary property exposure trends and issues and the adequacy of insurance in the management of these exposures.

Teaching and learning strategies

The subject will be taught in a combined lecture/tutorial format with extensive use being made of Case Studies in the issue identification and management processes.

Content

Basic property risk concepts
Risk assessment, surveys and and asset protection
The property underwriting process, techniques, trends and issues
Specific property insurance assessment, policy wordings and claims management processes.

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 and 2.
Assignment (Individual)	25%
This will assess students' understanding of the concepts of property insurance in a practical case study. This assignment will allow students to demonstrate that they have met objective 3 and 4.
Final Examination (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 to 5.

Recommended text(s)

Australian Insurance Institute, (1991-1995), Property Insurance, The Institute, Melbourne 1991-1995.

Indicative references

Goodlad, D., (1994) The ISR Book. The Patch, Victoria

Fawcett B.A. (1989) Business Interruption Insurance, Robins MBS

Smith, B.D, Propert Smith,B.D., Johnson,A.W. etal (1994) Property and Liability Insurance Principles, Insurance Institute of America

Huebener S.S., Black,K.,Webb,B.L., (1995) Property and Liability Insurance, Prentice Hall.