Risk Management and Insurance course catalog
All 24 recorded UW–Madison courses in this department, including courses not offered this term. Open a course for prerequisites, historical grades and instructors.
ECON/RMI 530: Insuring Life's Risks: Health, Aging, and Policy
Credits unavailable
Covers risks related to health and aging, rationales for social insurance programs to protect against these risks, and costs and benefits of these programs. Broad topics include health insurance, disability insurance, and Social Security and pension policy.
RMI 300: Principles of Risk Management
3 credits
Nature of risk, principal techniques of risk management, including insurance markets, and the bases for decision-making in managing risk effectively.
RMI 365: Contemporary Topics
1–3 credits
Exploration of subject areas possibly to be introduced into the business curriculum.
RMI 399: Reading and Research-risk Management
1–6 credits
Individual work suited to the needs of undergraduate students may be arranged with a faculty member.
RMI 620: Employee Benefits Management
Credits unavailable
Nongovernmental schemes for treating the risks of superannuation of members of a group; property, liability, legal expense, life and health coverages available to groups; organizational characteristics, benefit structure and pricing of risk transfer schemes for groups; characteristics and funding of various types of pension plans; effects of ERISA.
RMI 635: Captive Insurance
1–2 credits
Examines how captive insurance works, the different structures of captives, and advantages and disadvantages of their use in various settings. In addition, the captive feasibility process, as well as techniques for measuring financial performance, will be covered.
RMI 636: Insurer Financial Statement Analysis and Captive Insurance
Credits unavailable
Comprehensive overview of insurer financial statement analysis and captive insurance. Examine the construction of insurer financial statements, including premiums, expenses, and losses. Financial statement analysis focusing on the statutory statement with differences from GAAP highlighted. Assess captive insurance, covering its structures, feasibility studies, and financial performance measurement.
RMI 640: Management of Insurance Enterprise
3 credits
Functional analysis of the operations of insurance organizations; legal organization, marketing systems, management and control, underwriting, rating, financial analysis, rate making and regulation.
RMI 645: Commercial Insurance
3 credits
Consideration of the structure, use, benefits, and limitations of corporate insurance products. Fundamental to the material is the economic underpinning of the insurance contract structure. The major commercial property and liability insurance products will be analyzed in detail with the purpose of illustrating these economic principles and applying them to specific organizational situations.
RMI 650: Sustainability, Environmental and Social Risk Management
2–3 credits
The assessment, control, financing and management of risks deriving from pressures on and damages to the environment, workers and local/foreign communities. Risks include liability and directors and officers law suits, boycotts, regulations and competitors' actions.
RMI 655: Risk Financing Techniques
3 credits
Study of advanced risk management tools and markets for financing loss costs. Topics include: insurance, self-insurance, retrospective premium plans, risk retention and purchasing groups, reinsurance, insurance subsidiaries (captives), and other policyholder-owned facilities.
RMI 660: Risk Analytics and Behavioral Science
Credits unavailable
Learning to effectively navigate uncertainty is a key issue for all areas of business and especially for those engaged in explicit risk-management activities. The skills for success in these environments include knowing how to formulate the right questions to ask, how to identify the information that is valuable for answering those questions, understanding how to process incoming information to distinguish signal from noise, and how to use that information to put structure to uncertain environments so that one can take good calculated risks. This collective set of skills are at the heart of "decision analysis", which is a structured rational approach to making decisions under uncertainty.
RMI 665: Catastrophe Risk and Reinsurance
3 credits
Examines market and public policy approaches for managing catastrophe risks. Describes how catastrophes such as hurricanes, wildfires, severe convective storms, terrorist attacks, cyberattacks, environmental disasters (e.g., oil spills), and epidemics create societal challenges by affecting many households and firms concurrently. Covers catastrophe models, which are used to estimate the potential losses from these events by simulating thousands of possible disaster scenarios. Describes the markets for reinsurance and insurance linked securities, how these products work, and the types of risks they cover. Compares public-private partnership models across countries for managing severe risks such as public terrorism reinsurance and cyclone risk pools to glean insights from these varying approaches.
RMI 670: Data Privacy and Cyber Risk
Credits unavailable
Defines cyber risk and studies prominent case examples to become familiar with the many challenges it poses. Includes an in-depth look at the current state of data privacy law both in the US and globally. Establishes a framework and some basic methods to quantify cyber risk. Explores current cyber risk management options in the market including the implementation of internal risk controls as well as options in the burgeoning market for cyber insurance.
RMI 700: Principles of Risk Management
3 credits
Nature of risk, principal techniques of risk management, including insurance markets, and the bases for decision-making in managing risk effectively.
RMI 705: Risk Management and Technologies in a Digital Age
Credits unavailable
Develop insight into the principles of risk management, including institutions engaged in identifying, assessing, preventing, mitigating, and transferring risk. Specific focus is given to how the digitization of data, technology, and analytics are creating a new risk landscape, and how conventional risk management approaches can adapt to meet these emerging business needs.
RMI 710: Risk Management
Credits unavailable
The purpose of risk management is to minimize the adverse consequences of variability. Topics include the general philosophy of risk management, environmental factors affecting risk, options to manage risk, and decision processes to select among those options.
RMI 765: Contemporary Topics
1–4 credits
Exploration of advanced subject areas possibly to be introduced into the business curriculum.
RMI 799: Reading and Research-risk Management
1–6 credits
Individual work suited to the needs of graduate students may be arranged.
RMI 820: Advanced Topics in Risk Management
Credits unavailable
Examination of data collection and analysis methods for risk management decisions. Analysis of qualitative and quantitative data to support transfer, retention, and loss control decisions, including loss trending, and evaluation of regulatory controls.
RMI 875: Seminar-risk Management and Insurance
Credits unavailable
Applied learning in risk management and insurance.
RMI 920: Seminar in Actuarial Science, Risk Management & Insurance I
Credits unavailable
Doctoral seminar in actuarial science, risk management and insurance with emphasis on developing an appreciation of existing literature and appropriate skills to conduct own scholarly work in the field.
RMI 990: Risk & Insurance Independent Research Phd Thesis
1–12 credits
Individual work to complete dissertation requirement of Ph.D. program.
RMI 999: Reading and Research-risk Management and Insurance Phd
1–6 credits
Individual work suited to the needs of Ph.D. students may be arranged.