IRM 221: Principles of Insurance and Risk Management

About This Course

IRM 221 is the 1st of a 3-course series sponsored by the University of Olivet. Students who successfully complete the three courses by earning an overall score of 80% or higher are eligible to submit their transcripts for IRM 252 (CPCU 555) and IRM 253 (CPCU 551 plus Ethical Decision-Making in Risk Management) to The Institutes Knowledge Group to receive a CPCU professional designation certificate of completion. NOTE: Students who earn passing scores in the IRM courses are also eligible to receive postsecondary credit if they choose to later enroll with The University of Olivet following graduation from high school. IRM 221 is an introduction to the concept of risk, the process of risk management, and the field of insurance, including fundamental doctrines, historical background, social value, economic influence, loss exposures and protection, insurance regulation, insurance carriers, reinsurance, marketing, underwriting and claims adjusting. This course includes examination of the Michigan Essential Insurance Act and how this law addresses the social responsibility of the insurance business and its attempt to address social injustice. This course will also help students prepare for the AINS 21 national examination administered by The Institutes (formerly the Insurance Institute of America.