| Course Code : | 2107TEWFIN | | Study domain: | Accountancy & Audit | | Semester: | Semester: 1st semester
| | Contact hours: | 30 | | Credits: | 3 | | Study load (hours): | 84 | | Contract restrictions: | No contract restriction
| | Language of instruction : | Dutch
| | Exam period: | exam in the 1st semester
| | Tutor(s) | René D'hondt
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1. Prerequisites
At the start of this course the student should have acquired the following competences:
Specific prerequisites for this course:
No prior knowledge
required. However,
it is assumed that the student is familiar with basic concepts and has a basic
understanding of statistics (normal distribution), accounting (annual accounts),
economic principles and financial principles.
2. Learning outcomes
Acquisition of basic
knowledge of insurance. Development of understanding of how insurance contracts
work (risk assessment and mutualisation) and of how insurance companies
operate.
Placing these basic
concepts within a series of current topics (see contents).
3. Course contents
Legal and regulatory
framework for insurance (2 sessions)
European directives, WLVO
(terrestrial insurance contract), Insurance Companies Supervision Act,
Supervisory Regulation, Distribution, Accounting, etc. Objectives and methods of framework
legislation and regulations.
Overview of insurance (2
sessions)
Brief description of
current insurance
Compulsory and optional
insurance and guarantees
Underwriting policy of an
insurance company (1 session)
Measuring risk, risk
categories, segmenting, setting premiums using statistical materials
Financial and economic key
figures for insurance (1 session)
Turnover and payments,
provisions and investments, profitability, solvency
The banking crisis and
its impact on the insurance industry
Economic transformations
– accounting aspects – the bank-insurance model (“bancassurance”) – trends in supervision
Social insurance versus
private insurance (1 session)
Characteristics of Belgian
schemes for pensions, health care, unemployment, occupational diseases, child
allowance, occupational accidents
Special and current
topics in insurance (4 sessions)
Private health insurance
(Verwilghen law, Demotte law, Reynders law, competition between insurers and
health insurance funds, etc.)
Insuring damage resulting
from an act of terrorism
Insuring damage resulting
from a natural disaster
Evolution of liability
insurance (including class actions, consumer protection, corporate liability,
etc.)
Credit insurance
4. Teaching method
Class contact teaching: Lectures
5. Assessment method and criteria
Examination: Oral with written preparationClosed bookMultiple-choiceOpen-question
6. Study material
Required reading
Study texts,
documentation and examples (in the form of spreadsheets, graphics, etc.) are
made available via Blackboard. Extracts from recent specialist literature are
also provided.
Optional reading
The following study material can be studied on a voluntary basis:
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7. Contact information
(+)last update: 23/09/2010 15:06 ilke.franquet
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