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Lecturer(s)
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Černohorská Liběna, doc. Ing. Ph.D.
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Tučková Simona, Ing. Ph.D.
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Course content
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Historical development and importance of insurance. Risk and insurance. Commercial insurance. Insurance benefits and forms of insurance. Premiums. Technical reserves. Reinsurance. Business risks of insurance companies. Life insurance. Non-life insurance. Insurance regulation. Insurance market. The seminars will also include calculations from the basics of actuarial mathematics. The course will also include lectures by experts from practice.
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing), Methods of individual activities, Skills training
- Participation in classes
- 52 hours per semester
- Preparation for a credit (assessment)
- 10 hours per semester
- Preparation for an exam
- 40 hours per semester
- Preparation of a presentation (report)
- 24 hours per semester
- Writing a seminar paper
- 24 hours per semester
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Learning outcomes
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The aim of the course is orientation in the insurance industry and individual insurance sectors, understanding the importance of commercial insurance and the need to manage insurance risks and the consequences of accidental insurance events.
A student who has successfully completed the course can: Explain the historical context and significance of the insurance industry; Explain the concept of risk within insurance theory, risk management, the link to insurance , the breakdown of insurance. Characterize commercial insurance, including its breakdown and key concepts; characterise insurance claims and forms of insurance; explain premium size requirements, calculate premiums and administrative costs; explain the meaning of technical provisions and their different types; characterise reinsurance, its meaning, the breakdown of reinsurance and related concepts; characterise the various business risks of insurance companies, including risk management of insurance companies; characterise life insurance and its different types; characterise non-life insurance and its different types; explain the purpose of insurance regulation, its elements; characterise insurance supervision; A student who has successfully completed the course will be able to: orientate themselves in the problems of insurance, the provision of insurance protection and the different insurance sectors; interpret the importance of commercial and social insurance for economic entities and the need to prevent the financial consequences of accidental events; understand the range of insurance products and select the appropriate product for a given life and non-life risk; understand the laws relating to the insurance market and record appropriate risk management practices; understand future developments in the insurance market. analyse insurance market developments, including insurance market trends.
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Prerequisites
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The student should have knowledge of the basic functioning of financial markets.
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Assessment methods and criteria
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Written examination, Home assignment evaluation, Didactic test
The student will receive credit if the following conditions are met: - Preparation of an independent work and its presentation - 40 points - Writing a credit test - 60 points - Meeting the minimum score of 60% = min. 60 points - By actively participating in the lesson, the student can receive up to + 5 plus points Exam: written with oral examination.
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Recommended literature
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A.M. Best Company. Understanding the Insurance Industry: An overview for those working with and in one of the world's most interesting and vital industries.. New Jersey, 2014. ISBN 979-8756289831.
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Černohorský, J. Finance: od teorie k realitě. Praha, 2020. ISBN 978-80-271-2215-8.
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Gmentová Eva. Pojištění v kostce. 2020. ISBN 978-80-906748-7-5.
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Rejda, E.G., MaNamara, M. Principles of Risk Management and Insurance.. Harlow, 2022. ISBN 978-1-292-34974-9.
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