PELLISSIPPI STATE TECHNICAL COMMUNITY COLLEGE MASTER SYLLABUS
INSURANCE OPERATIONS  INP 1850
Class Hours:  3.0								Credit Hours: 3.0
Laboratory Hours: 0.0								Date Revised: Spring 00
Catalog Course Description:
	Overview of how the various insurance functions interact with each other and with outside entities to provide insurance and related services.
Entry Level Standards:
	None
Prerequisites:
	None
Textbook(s) and Other Reference Materials Basic to the Course:
	Insurance Operations, latest edition, Vols. I & II, American Institute of Insurance. CPCU 5 Course Guide, American Institute of Insurance
I. Week/Unit/Topic Basis:
	Week					Topic
	1					Operations
	2					Principles of Marketing
	3					Insurance Distribution Systems
	4					Insurance Underwriting Function
	5					Underwriting Property Insurance
	6					Underwriting Liability Insurance and Package Policies
	7					Loss Control and Premium Auditing
	8					MIDTERM
	9					The Reinsurance Transaction
	10					Ratemaking Principles
	11					The Ratemaking Process
	12					Other Actuarial Functions
	13					Claims Adjusting
	14					Property Claims Adjusting
	15					Liability Claims Adjusting
	16					FINAL EXAM
II. Course Objectives*:
	A.			Describe the major insurer functions of property and liability insurance companies. I,II
	B.			Understand the inter dependencies that exist among the different functions in an insurance company. I,II,III
*Roman numerals after course objectives reference goals of the Business and Community Services department.
III. Instructional Processes*:
Students will:
	1.				Take part in course assignments such as team discussions; team case studies; team projects; experiential exercises; oral, written, PowerPoint, and/or email presentations; Internet research; etc. to help develop teamwork, leadership, and followership skills. Communication Outcome, Personal Development Outcome, Cultural Diversity & Social Adaptation Outcome, Information Literacy Outcome, Transitional Strategy, Active Learning Strategy
	2.				Use critical thinking skills to interpret and evaluate the financial statements of existing companies and make informed judgements about these statements to facilitate in decision making and problem solving strategies. Problem Solving and Decision Making Outcome, Numerical Literacy Outcome, Information Literacy Outcome, Active Learning Strategies
	3.				Exhibit professional behavior by attending class regularly, arriving punctually with the appropriate materials, and being prepared for active class participation each day.  Personal Development Outcome, Transitional Strategy
	4.				Use email to communicate problems, questions, and issues to the instructor.  Communication Outcome, Informational Literacy Outcome, Technological Literacy Outcome
*Strategies and outcomes listed after instructional processes reference Pellissippi State’s goals for strengthening general education knowledge and skills, connecting coursework to experiences beyond the classroom, and encouraging students to take active and responsible roles in the educational process.
IV. Expectations for Student Performance*:
Upon successful completion of this course, the student should be able to:
	1.			Explain the major objectives of insurers. A
	2.			Explain how markets and market performance can be measured. B
	3.			Explain the factors that should be considered in selecting a distribution system. A, B
	4.			Describe the principal dimensions of underwriting policy and the effects of the major limiting factors. B
	5.			Describe factors to consider in evaluating exposing structures and the methods which may be used to reduce the hazard as it related to the underwriting process. B
	6.			Describe the major regulatory restrictions and legal environment that affect the underwriting of personal and commercial insurance. B
	7.			Explain the objectives of the loss control function. B.
	8.			Describe financial reinsurance and explain the features that distinguish financial reinsurance from traditional types of reinsurance. B.
	9.			Identify and evaluate the major factors needed to formulate and execute an effective reinsurance plan. B.
	10.			Describe the actuarial services and professional credential required by insurers. A, B
	11.			Explain how the experience period selected can affect the results of the ratemaking process. B.
	12.			Describe the role of actuaries in tactical and strategic planning. B
	13.			Describe the environment in which the claims department   must operate. A,B
	14.			Explain the general issues adjusters must address in all property claims. B
	15.			Describe procedures adjusters follow in determining legal liability and explain the legal bases for recovery. B
*Letters after performance expectations reference the course objectives listed above.
V. Evaluation:
	A. Testing Procedures:
			Midterm:                      25%       Unannounced Quiz    25%        Final                             40%
	B. Laboratory Expectations:
		N/A
	C. Field Work:
		N/A
	D. Other Evaluation Methods:
		Attendance                 10%
	E. Grading Scale:
		90 - 100     A         80 -  89      B         70 -  79      C         60 -  69      D         Below 60  F
VI. Policies:
	Attendance Policy:
		Pellissippi State Technical Community College expects students to attend all scheduled instructional activities.  As a minimum, students in all courses must be present for at least 75 percent of their scheduled class and laboratory meetings in order to receive credit for the course.