Risk Management and Insurance (GE31103)Main Reference Harrington, S.E., & Niehaus, G.R. (1999). Risk Management and Insurance. USA: Irwin/McGraw-HillSynopsislThis course presents two essential points. Firstly, it is on risk management, which is usually applied to the context of managing risks, which could affect business environments, which in turn affects business entities. Secondly, it is on risk management applications, which are interesting to learn and practice. Generally, students are exposed with a number of concepts, theories and calculations in order to make sure the students are able to comprehend the course in details. Learning the course, certainly, provides students with knowledge and skills for career advancement in the insurance industry.Learning OutcomeslIllustrate risk and the risk management process lExplain the risk management and the insurance industry practices .lDifferentiate risks associated with retirement planning and employee benefit Lecture Topicsl Introduction to Risk Managementl Risk Management Methodsl Objectives of Risk Managementl Risk Identificationl Risk Measurement: random variables, probability distribution, frequency and severity of losses and Expected Lossesl Risk Management in Islamic Perspectivesl Risk Profile of Islamic Financial Institutions: Financial Riskl Risk Profile of Islamic Financial Institutions: Business Riskl Risk Profile of Islamic Financial Institutions: Treasury RisklRisk Profile of Islamic Financial Institutions: Governance RiskAssessments:lFinal Exam 40%lMid-term exam 30%lProject research report and Presentation 20%l Attendance and class participation 10%