During the course, students gain knowledge to understand and underwrite insurance risks. The aim of the course is acquiring the competencies necessary for calculating insurance premium and to determine the type of insurance coverage.

Student will be able to assess potential risks in underwriting process. Student will gain competitions necessary for designing an adequate insurance model for different types of assets, as well as to propose an adequate life insurance model.

The legal elements of security: Sources of law in insurance, general and special conditions of insurance, subject of insurance, insured risk, technical organization of insurance: insurance elements, principles of operation, security and risk, the application of statistical methods in the risk quantification; Life insurance: types and basic characteristics of life insurance, product design, contract signing, the actuarial methods and assumptions for determining life insurance rates. Non-life insurance: types and main characteristics of non-life insurance, collective risk theory and its application, tariff setting of non-life insurance, insurance pricing principles and calculation of premiums, technical provisions and solvency margin; Insurance and reinsurance: maximum retention, the types of reinsurance contracts.

Teaching on the course includes lectures and auditory exercises.