"Risk management in insurance" is selective and very popular discipline among students.

The discipline "Risk management in insurance" is aimed at preparation of bachelors, specialty 6.030508 "Finance and Credit" (specialization "Finance"), who must know the theory and methodology of risk management for the use of this knowledge in the immediate work in any business or the implementation of economic and other relations of individuals with diverse systems of financial subjects.

The aim of mastering the discipline in the context of preparing specialists of a certain specialty. Its relationship with other disciplines of the curriculum.

The aim of mastering the discipline- formation of students' knowledge on sustainable theory and practice of monitoring, analysis and evaluation of the entities' aggregate risk.

In the process of teaching the following tasks are being solved:

•the acquisition of skills and abilities on analysis of the dynamics and structure of risk;

•consideration of the main methods to minimize risk;

•the study of risk diversification agenda;

•mastering the skills of analysis of insurance risk;

•learning algorithm for constructing a system of risk management in the enterprise (organization).

The subject of the disciplineis a specific sphere of monetary relations arising in the process of monitoring, analysis and evaluation of the entities' aggregate risk.

The discipline "Risk management in insurance" has a close structural and logical relationship with such sciences (disciplines) as "Probability theory", "Statistics", "Management", "Insurance", "Social Insurance", "Insurance Management", "Fundamentals of actuarial calculations."

The list of knowledge and skills, which will come after a student masters the discipline.

As a result of studying the discipline, a student will know:

•the economic nature of risk management, its functions, factors, principles and basic rules, problems in the current conditions of economic development;

•basic approaches to building a risk management system;

•methodological aspects of risk assessment in insurance;

•methodological approaches to risk management, particularly by insurance;

•the relationship of the parties (insurer and insured) under the insurance contract to optimize risk;

•procedure for making and keeping insurance contract;

•economic substance of the insurer's risk portfolio, the requirements for its formation, stages of its management in modern conditions of economic development;

•main approaches to the insurer's risk classification;

•methodological aspects of balancing of the insurer's insurance portfolio ;

•the structure and trends of development of the global market risks and their impact on the choice of strategy and tactics of risk management in the domestic insurance sector;

•the necessity and mechanism of application of coinsurance and reinsurance in managing risk;

•the features of risk classification of personal, property and liability insurance;

•methodological aspects of risk assessment in the personal, property and liability insurance;

•the features of risk classifications of investment activity and loss of the insurer's solvency;

•methodological aspects of assessing the effectiveness of investment activities and solvency of the insurer.

will be able to:

•insight into the theoretical and applied nature information for deep understanding of contemporary issues of risk management in insurance;

•distinguish risks according to their insurance and non-insurance nature;

•distinguish the features of insurance relations depending on the specific characteristics of risk accepted for insurance;

•evaluate and choose the best management practices as non-insurance and insurance risks;

•assess the situation and identify areas for improvement of the legal framework governing the management of risk in the domestic insurance business;

•analyze the current state of development of the potential risks' market by the domestic insurance market;

•justify management decisions for optimizing the risks of personal, property and liability insurance;

•justify management decisions for optimizing the risks of investment activity and solvency loss of the insurer;

•use knowledge of risk management in insurance to solve professional problems.

The scope of the implementation of acquired knowledge and skills in the future profession.

Knowledge and skills acquired in the study of this discipline, are used in the organization of effective integrated risk management entity; neutralization and minimization of its losses; safeguarding its assets, income and expenses through the use of self-insurance, hedging and insurance; augmenting its income from various activities. They can be used by graduates as managers in the insurance and non-insurance organizations, risk managers, financial analysts, financial consultants, experts, underwriters, actuaries, economists, civil servants of specialized agencies and researchers.

Summary of the discipline offered for students to study in modules and topics.

Topic 1. The essence, principles and role of risk in the global economy.

Topic 2. Specifications of risks.

Topic 3. The principles of the economic risk analysis.

Topic 4. Classification of risks and their types.

Topic 5. Methods of qualitative and quantitative risk analysis.

Topic 6. Crisis management of risks.

Topic 7. Methods ofrisk minimization.

Topic 8. Assessment of risk in management decision-making.

Topic 9. Prevention, minimization and hedging risks.

Topic 10. Diversification of risk and self-insurance.

Topic 11. Risk insurance.

Topic 12. Comprehensive risk management at the company.

Teaching staff:Ph.D., Assoc. Prof. O.D. Kolotylo

Basic bibliography:

1. M.Kruy, D. Gala, R.Mark. Fundamentals of risk management.- N .: Yurayt. 2011.

2. I.A.Blank  Manage fynansovыmy dashes. - K: Nick Centre, 2005.

3. A.A.Starostin, V.A.Kravchenko. Risk Management: Theory and Practice: Training. guidances. - K .: ICC "Publisher" Polytechnic ", 2004.

Head of the insurance department                                                                   O.O.Gamankova