May 28, 2023
SHM 456 - Risk Financing for Safety and Health Management
This course provides students with a comprehensive overview of the techniques (blend of retention and transfer) used by safety, health, and risk management professionals to finance or pay for the negative consequences of risk events. Course will be offered every year (Spring).
Upon successful completion of this course, the student will be able to:
- Describe risk financing, common risk financing goals, and its importance to organizations.
- Explain how to analyze, evaluate, and estimate expected losses arising from hazard risks.
- Explain the purpose and operation of insurance, and how insurance benefits individuals, organizations, and society.
- Given a case, justify a self-insurance plan that can meet an organization’s risk financing needs.
- Describe the purpose and operation of the following insurance plans: self-insurance, retrospective rating, reinsurance, and captive insurance.
- Describe the types of contractual risk transfer for hazard risk.
Learner Outcomes Approval Date:
Approved Fall 2017
Anticipated Course Offering Terms and Locations:
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