7210 Department of Risk Management and Insurance - Georgia State University (2024)

• B.B.A. in Actuarial Science
• Minor in Actuarial Science
• B.B.A. in Risk Management and Insurance (Insurance Track and Quantitative Risk Management Track)
• Minor in Risk Management and Insurance
• Minor in Business Law

11th floor, Robinson College of Business Building
404-413-7500
rmi.robinson.gsu.edu

Stephen Shore, Chair
Faculty: Akcin, Amini, Annan, Binder, del Valle, Fung, Green, Grelecki, Harrison, Lucke, Orfanos, Peng, Phillips, Sherman, Shore, Subramanian, Thielman, Varadarajan, Weston, Willey

The Department of Risk Management and Insurance is an interdisciplinary academic unit. It offers undergraduate majors in actuarial science and in risk management and insurance, together with courses in the areas of legal studies and personal financial planning.

7220 Actuarial Science

Stefanos Orfanos, Faculty Advisor

Actuaries have been called financial architects and social mathematicians because of their unique blend of analytical and business skills in the insurance and financial services industry, as consultants in firms that specialize in employee benefits and pensions, in the government sector, and in a variety of other roles. The job of an actuary has routinely been ranked by publications such as Forbes, Business Week and CNCB as one of the ten highest-paying jobs in the U.S. A career as an actuary is also touted as one of the most satisfying careers in terms of the “work-life” balance.

To be recognized as a qualified actuary, a person should become a member of the Society of Actuaries or the Casualty Actuarial Society. Admission to membership is obtained by passing a series of examinations given by the societies. The actuarial science program at Georgia State University is structured so that students are well prepared to pass these examinations at the completion of the program and, thereby, be extremely competitive on the job market. The tremendous demand for such highly trained persons makes a career in this area very rewarding financially and in providing the satisfaction that comes from membership in a well-recognized profession. In order to meet the critical shortage of actuarial personnel in this region, the Southeastern Actuaries Club endorsed the establishment of the actuarial program at Georgia State University as part of the university’s comprehensive insurance educational activity. The program continues to have the strong support of the actuarial profession. Inquiries concerning the actuarial profession or the details of the program at Georgia State University should be directed to the department.

7220.10 Program Admission

There are no admission requirements specific to the Actuarial Science program. However, Actuarial Science students are required to meet all University and College admission requirements.

7220.20 Program Financial Information

There are no special fees associated with majoring in Actuarial Science. However, Actuarial Science majors must pay all tuition and fees charged by the University and the College.

7230Legal Studies

The Legal Studies Courses offered through the Department of Risk Management and Insurance afford a base for scholarship and teaching at the intersection of law and business. Legal Studies courses provide nonprofessional legal education open to business students in both the J. Mack Robinson College Business and those in the broader university community.

Students can receive a minor in Business Law that emphasizes legal transactions and risk. Doing so provides non-major students the opportunity to examine legal approaches to the management of risk exposures in corporate and personal settings. All business majors may find the minor attractive but specific majors that should find the minor especially attractive include accounting and managerial sciences, economics, political science, and pre-law students

7240 Risk Management and Insurance

Harold Weston, Adviser

The program in Risk Management and Insurance strives to prepare qualified and motivated students for positions of leadership and responsibility in risk management, insurance, and other financial services businesses. The Bachelors of Business Administrationin Risk Management and Insurance emphasizes problem-solving, critical thinking for decision making uncertainty, risk assessment, and risk finance through insurance. With an estimated 400,000 insurance and risk jobs opening in the next 10 years due to retirements in the workforce, an RMI graduate will find many entry-level positions and quick climbs up the levels of responsibility.

The major has two tracks of study. The insurance track is for those who desire to work in the insurance industry or in risk management in general. The required courses introduce students to the business of insurance and corporate risk management. Elective courses can allow a student a degree of specialization in property and liability insurance, or risk management, or other related specialties. Graduates of this track find employment as brokers/agents providing professional risk management counseling and market placement services for clients, and in the underwriting, marketing, claims adjusting, planning, government relations, and financial management activities of insurers.

The quantitative track is for those with an interest in risk analysis. This track is for those interested in the understanding of how to model risk, and to communicate risk in a business or governmental setting. Students will take courses in risk modeling, legal risk analysis, regulation, economics, and policy. Graduates in the risk analysis track find a variety of career opportunities open to them as risk analysts within the risk management and insurance business, in other financial institutions, and in community and government agencies.

7240.10 Program Admission

There are no admission requirements specific to the Risk Management and Insurance program. However, Risk Management and Insurance students are required to meet all University and College admission requirements.

7240.20 Program Financial Information

There are no special fees associated with majoring in Risk Management and Insurance. However, Risk Management and Insurance majors must pay all tuition and fees charged by the University and the College.

Programs

• Actuarial Science, B.B.A.
• Risk Management and Insurance, B.B.A.

• Actuarial Science Minor
• Business Law Minor
• Risk Management and Insurance Minor

Courses

• AS 3230 - Financial Mathematics
• AS 3230L - Financial Mathematics Lab
• AS 4140 - Probability
• AS 4140L - Probability Lab
• AS 4260 - Microeconomic Foundations of Actuarial Science
• AS 4320 - Loss Models and Credibility
• AS 4340 - Life Contingencies I
• AS 4350 - Life Contingencies II
• AS 4360 - Ratemaking and Loss Reserving
• AS 4389 - Directed Readings in Actuarial Science
• AS 4510 - Derivative Valuation and Risk Management

• BUSA 2106 - The Legal and Ethical Environment of Business

• LGLS 2020 - Introduction to Law and Risk: Using Law to Manage Risks
• LGLS 3020 - Introduction to the Law
• LGLS 3610 - Legal and Ethical Analysis of Business Environments-CTW
• LGLS 4020 - Business Law for Entrepreneurs
• LGLS 4030 - Lawyers and the Legal Profession
• LGLS 4040 - Advanced Legal Analysis
• LGLS 4050 - Legal Transactions and Risk
• LGLS 4060 - Internet Law
• LGLS 4070 - Environmental Risk: Law and Policy
• LGLS 4080 - Legal Issues in International Business
• LGLS 4389 - Directed Readings in Legal Studies
• LGLS 4450 - Law and Economics
• LGLS 4490 - Real Estate Law

• PFP 4389 - Directed Readings in Personal Financial Planning

• RMI 3500 - Principles of Risk Management and Insurance
• RMI 3600 - Calculus for Business and its Applications
• RMI 3750 - Risk Modeling
• RMI 3751 - Risk Assessment Methods
• RMI 4000 - Personal Financial Planning
• RMI 4005 - Introduction to Risk Analytics and Applications
• RMI 4010 - Life Insurance
• RMI 4015 - Contracts Risk Analysis
• RMI 4020 - Property and Liability Insurance
• RMI 4025 - Law, Policy and Risk Regulation
• RMI 4035 - Financial Risk and Regulation
• RMI 4045 - Advanced Financial Risk Management
• RMI 4150 - Theory of Risk
• RMI 4300 - Risk Management
• RMI 4350 - Enterprise Risk Management
• RMI 4389 - Directed Readings in Risk Management and Insurance
• RMI 4391 - Risk Management and Insurance Field Study
• RMI 4400 - InsurTech: New Technology in Insurance Markets
• RMI 4530 - Employee Benefit Plans
• RMI 4680 - Regression Modeling
• RMI 4700 - Insurance Operations
• RMI 4800 - Commercial Insurance Underwriting
• RMI 4980 - Problems in Risk Management and Insurance
• RMI 4990 - The Risk Analysis Clinic