25350 Principles of Risk and Insurance

25350 Principles of Risk and Insurance

Course details last updated on the register on 2/12/2011

Course Name

25350 Principles of Risk and Insurance

Course Information

Principles of Risk and Insurance introduces students to the theory of risk and examines the history and evolution of insurance together with its contemporary functioning. Students are exposed to the study of insurance as a commercial, economic and social institution. The subject also deals with the principal statutory controls governing the transaction of insurance business in Australia. Please note that completion of this course will not provide full RG146 compliance in the listed specialist knowledge areas. For compliance in these areas the Generic knowledge and skills component of RG146 must also be completed through a provider listed on this register.

Award Given at Completion


Specialist Knowledge

General Insurance, Life Insurance, Insurance Broking



Where Course Delivered


Delivery Method


Assessment Type

Examination - open book, Case study, Other - Assignment

Start Date


De-registration Date


Reason for De-registration

Voluntary: course or assessment service no longer offered

Duration/Total Hours



Approximate Cost





This course is no longer being offered



Professor Tony Hall

Phone Number

02 9514 7777

Fax Number

02 9514 7722

Email Address



Risk ConceptsDefinitions; Risk Perceptions; Risk Categories; Risk & Society; Risk handling strategies - Overview. Introduction to Risk ManagementDefinitions; Risk Management Process; Risk Management Standard; (AS/NZS 4360:2004); Enterprise Risk Management – an effective risk treatment strategy? The Insurance MechanismDefining Insurance; Insurable Risks; Insurance Contract; Law of Large Numbers; Adverse Selection; Insurance Costs & Benefits. Insurance in AustraliaGeneral & Life Industries; Current Trends; Convergence & Harmonisation; Financial Services Reform. London Insurance Market & LloydsBackground; London Market; Lloyds- Present & Future; Lloyds in Australia. Introduction to UnderwritingDefinitions; Selection of Insurable Risks; Underwriting Information; Insurance Pricing; The Underwriting Cycle. Introduction to ReinsuranceDefinitions; Reinsurance Types; Reinsurance Process; Traditional Reinsurance v. Financial Reinsurance. Insurance Legal PrinciplesDoctrine of Utmost Good Faith; Duty of Disclosure; Non-Disclosure & Misrepresentation; Insurable Interests; Subrogation; Contribution. Insurance Contract – RegulationAct objectives, scope and application; Insurance Contracts Act 1984 & FSR Act 2001; The Insurance Contract revisited. Insurance intermediaries – Agency PrinciplesInsurance Intermediaries – Agents & brokers; General Principles - Role, rights and duties. Insurance Intermediaries - RegulationRegulation objectives – Scope & application of major statutory changes; Convergence – FSR Act 2001 & Corporations Law 2001 Ch.7. Insurance RegulationRegulation of Insurance in Australia; APRA/ASIC Insurance Act 1973; General Insurance Reform Act 2001; Insurance & Privacy Principles. Introduction to Life Insurance & SuperannuationDefinitions & Background; Financial Services Reform impact. Examination Mid-Semester Exam 1.5 Hours – Closed Book covering Topics 1 - 7; Final Examination 3 Hours – Closed Book covering Topics 1 - 13


University of Technology, Sydney, School of Finance and Economics, Faculty of Business


Caroline Dobson, Executive Officer

Phone Number

(02) 9514 7777

Fax Number

(02) 9514 7722

Email Address


Important Notice

This service is provided solely for general information purposes. By provision of the service ASIC does not provide legal or other professional advice. ASIC expressly disclaims any liability arising from use of the service. If you require legal or other expert advice or assistance, you should seek the services of a competent professional person.

Created by the Australian Securities and Investments Commission. http://www.asic.gov.au Copyright � 2007 Australian Securities and Investments Commission.

Version 2.0

Last updated: 30/03/2021 09:39