School Of BusinessInsurance and Risk ManagementWestern Sydney University Unit Code: 200870.1
Discipline: INSURANCE AND ACTUARIAL STUDIES
Student Contribution Band: 3
Level: 7
Credit Points: 10
Equivalent Units
CO804A Insurance and Risk Management (PG)
Unit Enrolment Restrictions
Students must be enrolled in 2671/2770 Master of Commerce (Financial Planning) or 2690 Graduate Certificate in Commerce (Financial Planning).
About this Unit
This unit introduces students to the use of a range of insurance types and products to manage risk for individuals and small business. It aims to identify, evaluate and manage risk as part of the financial planning process to produce a compliant statement of advice. A number of risk management strategies are identified and the importance of life insurance, total and permanent disablement, trauma policies, property insurance, health cover, income protection and business insurance in managing risk is addressed. The unit provides an understanding of the various issues that can arise with respect to insurance policies and premiums and uses both the multiple and needs analysis approaches to calculate the level of cover required. A holistic approach to the risk management process is provided where a variety of insurance covers are considered in the context of a full financial plan that is adequate and affordable to the client and their specific needs as identified in the data collection process.