Course detail

Insurance and Risk Management

FP-prrPAcad. year: 2025/2026

Lecture content:

  1. Introduction to the insurance industry - history, meaning, principles of insurance.
  2. Fundamentals of risk management.
  3. Legal regulation of insurance.
  4. Commercial insurance company and its activities.
  5. Reinsurance.
  6. Basic non-life insurance products.
  7. Basic life insurance products.
  8. Liquidation of insured events.
  9. Business risk insurance I.
  10. Business risk insurance II.
  11. Risk management of a business entity I.
  12. Risk management of a business entity II.
  13. Insurance markets and insurance distribution.

Seminar content:

  1. Terminology, insurance contract.
  2. Negotiating insurance for selected non-life insurance products.
  3. Negotiating insurance for selected life insurance products.
  4. Participation in insurance payment.
  5. Employer's liability insurance.
  6. Business risk analysis.
  7. Credit.

Learning outcomes:

Professional knowledge - The student knows the importance of insurance and risk management for businesses and households, basic products and services that can be used to reduce the impact of various risks.

Professional competences - The student can quantify the financial impacts of selected parameters of insurance products and services using the basics of actuarial mathematics.

Professional skills - The student can evaluate and decide on the use of insurance products and services and some other financial instruments in the management of corporate and personal risks.

Language of instruction

Czech

Number of ECTS credits

5

Mode of study

Not applicable.

Guarantor

prof. Ing. Tomáš Meluzín, Ph.D.

Department

Institute of Economics (ÚE)

Entry knowledge

Not applicable.

Rules for evaluation and completion of the course

Course completion requirements:

Credit:

  1. Semester paper: max. number of points 10, min. required number of points is 5.
  2. Credit test: max. number of points 20, min. required number of points is 10.

Credit is awarded after both conditions are met. Granting credit is a condition for admitting the student to the exam.

The exam is in writing (oral re-examination if necessary). The exam contains test and open questions, max. number of points 70, min. the number of points for passing the exam is 35.

The final course evaluation is the sum of the points from the exam and the credit (sum of points from the test and semester paper) according to the ECTS classification scale of the BUT Study and Examination Rules:

  • A: point evaluation 100 - 90
  • B: point evaluation 89 - 80
  • C: point evaluation 79 - 70
  • D: point evaluation 69 - 60
  • E: point evaluation 59 - 50
  • F: point evaluation 49 - 0

Completion of the course in individual study:

ditto
Completion of the course in distance form:
ditto



Aims

The course aims to provide students with basic knowledge and current information in the field of insurance. To introduce them to insurance theory, the principles of how insurance and insurance protection work. To inform them about the insurance offer on the insurance market of the Czech Republic in individual types of insurance, including pointing out problem areas in the sale of insurance products, insurance administration and liquidation of insured events. Students will also be introduced to the basics of risk management of a business entity, where insurance is one of the tools used to minimize the negative impacts of various types of risks.
The acquired knowledge will enable students to better navigate the issue of providing insurance protection and understand the importance of commercial insurance and the necessity of risk management. Students will be able to navigate the offer of insurance products on the insurance market of the Czech Republic, the scope of insurance protection and the method of liquidation of insured events. Students will be able to more skillfully solve the protection of health and property of individuals and legal entities using commercial insurance as part of risk management.

Study aids

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

DUCHÁČKOVÁ, Eva. Pojištění a pojišťovnictví. 1. vydání. Praha: Ekopress, 2015, 305 stran. ISBN 9788087865255. (CS)

Recommended reading

ŘEZÁČ, F. Pojišťovnictví. Brno: CERM, 2011. 110 str. ISBN 978-80-214-4242-9. (CS)
TATEK BENETTI K. a Izáková K. Vybrané aspekty pojistných trhů. Praha: Grada Publishing, 2024. 253 str. ISBN 9788027153299 (CS)

Classification of course in study plans

  • Programme BAK-EAM Bachelor's

    specialization BAK-EAM-UAD , 2 year of study, summer semester, elective
    specialization BAK-EAM-EP , 2 year of study, summer semester, compulsory

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

prof. Ing. Tomáš Meluzín, Ph.D.

Syllabus

Lecture content:

  1. Introduction to the insurance industry - history, meaning, principles of insurance.
  2. Fundamentals of risk management.
  3. Legal regulation of insurance.
  4. Commercial insurance company and its activities.
  5. Reinsurance.
  6. Basic non-life insurance products.
  7. Basic life insurance products.
  8. Liquidation of insured events.
  9. Business risk insurance I.
  10. Business risk insurance II.
  11. Risk management of a business entity I.
  12. Risk management of a business entity II.
  13. Insurance markets and insurance distribution.

Exercise

13 hod., optionally

Teacher / Lecturer

prof. Ing. Tomáš Meluzín, Ph.D.

Syllabus

Seminar content:

  1. Terminology, insurance contract.
  2. Negotiating insurance for selected non-life insurance products.
  3. Negotiating insurance for selected life insurance products.
  4. Participation in insurance payment.
  5. Employer's liability insurance.
  6. Business risk analysis.
  7. Credit.

Learning outcomes:

Professional knowledge - The student knows the importance of insurance and risk management for businesses and households, basic products and services that can be used to reduce the impact of various risks.

Professional competences - The student can quantify the financial impacts of selected parameters of insurance products and services using the basics of actuarial mathematics.

Professional skills - The student can evaluate and decide on the use of insurance products and services and some other financial instruments in the management of corporate and personal risks.

Individual preparation for an ending of the course

39 hod., optionally

Teacher / Lecturer

prof. Ing. Tomáš Meluzín, Ph.D.

Self-study

52 hod., optionally

Teacher / Lecturer

prof. Ing. Tomáš Meluzín, Ph.D.