This course is an introduction to fundamental global risk management and insurance law principles as essential components of global business operations and personal risk management. Topics include risk identification, risk analysis, global risk exposures, insurance legal principles, loss prevention, and safety concepts, and the social and economic relevance of risk management and insurance law.

CILO-1: Students will be able to elaborate the nature, structure, and application of common forms of insurance. CILO-2: Students will be able to appreciate the role that insurance has in society, both at a personal and commercial level, and in particular its place in contracting and the management of the risks of business activity. CILO-3: Students will be able to elaborate insurance and insurance contracts through the application of key legislation. CILO-4: Students will be able to determine the responsibilities, rights, and liabilities of parties to insurance contracts, third party beneficiaries, third party claimants, and insurance intermediaries applying legislation and general law to various scenarios and problems. CILO-5: Students will be able to determine problem-based policy response, and whether there is a legitimate basis for claims declinature, either in whole or in part.