KFPOEK Insurance Economics

Faculty of Economics and Administration
Autumn 2008
Extent and Intensity
0/0. 5 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. František Řezáč, Ph.D. (lecturer)
Guaranteed by
prof. Ing. Viktória Čejková, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Timetable
Sat 27. 9. 16:20–18:45 P403, Sat 18. 10. 12:50–15:20 P403, Sat 29. 11. 16:20–18:45 P403, Sun 7. 12. 12:50–15:20 P403
Prerequisites
The prerequisite for the course Insurance economics is the completion of the course Insurance.
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 80 student(s).
Current registration and enrolment status: enrolled: 0/80, only registered: 0/80
fields of study / plans the course is directly associated with
Course objectives
The course is a follow-up to the course Insurance. Its aim is to acquaint students with insurance economics and with economy of an insurance company. In more detail, the course brings an explanation to the risk management in commercial insurance companies including the ways of financial risk coverage. It also explains technical reserves, capital stock, solvency and commercial insurance company management. The course deals with the conditions of the commercial insurance company’s financial health and specifics of their financial analysis with the emphasis on ratio indicators and rating of the commercial insurance companies.
The main objectives of the course are the following:
- to provide students with knowledge of insurance economics and economics of the insurance company;
- to made students aware of the fundamental principles of commercial insurance company’s operation as an entrepreneurial entity;
- to explain the need of sufficient capital;
- to make students familiar with evaluating the requested structure of owned and managed property;
- to analyse economic results of the commercial insurance company using basic financial statements which comply with the specifics of the chart of accounts used by the commercial insurance company.
Syllabus
  • Lecture topics:
  • 1. Introduction to course. Legal aspects of insurance business.
  • 2. Economy of insurance business. Insurance economics. Basic terms of insurance economics.
  • 3. Insurance and risk. Risk definition and classification. Relation between risk and insurance. Insurance protection and its assessment.
  • 4. Risk management. Risk management methodology. Risk prevention. Risk identification and assessment. Covering of risk.
  • 5. Financial covering of risk by insurance. Insurance need and interest. Advantages and disadvantages of insurance coverage. Risk management in insurance company.
  • 6. Commercial insurance company as entrepreneurial entity. Economic aspects of insurance business. Technical reserves of insurance company. Investment activities of commercial insurance company.
  • 7. Capital ratio of insurance company. Capital stock of insurance company. Solvency of insurance company. Capital and reserves determination. Economic balance of insurance.
  • 8. Insurance company management. Revenues, costs and result of insurance company. Annual report of insurance company.
  • 9. Financial health of insurance company. Financial analysis of insurance company. Concept, types and methods of financial analysis. Ratio indices classification. Specifics of financial analysis of insurance company. Rating of insurance company.
  • 10. Impact of globalization on management of insurance company (bank insurance, insurance and credit, insurance and Internet).
  • 11. Organizational structure of insurance company with emphasis on organization of economic department and economy of other departments of insurance company.
  • 12. Current economic problems of insurance company business in Czech republic and European Union.
  • 13. Insurance economy and economy of insurance company in insurance business – presentation given by employee of insurance company.
Literature
  • ČEJKOVÁ, Viktória, Svatopluk NEČAS and František ŘEZÁČ. Pojistná ekonomika. 1.vyd. Brno: MU ESF, 2003, 145 pp. ISBN 80-210-3288-X. info
  • ČEJKOVÁ, Viktória, František ŘEZÁČ and Aleš ZUZAŇÁK. Pojištění pro podnikatele. Břeclav: Moraviapress, 1998, 212 s. ISBN 80-86181-13-8. info
  • DUCHÁČKOVÁ, Eva. Principy pojištění a pojišťovnictví. 2. aktualiz. vyd. Praha: Ekopress, 2005, 178 s. ISBN 8086119920. info
  • ČEJKOVÁ, Viktória and Dana ČAPKOVÁ. K ekonomice pojišťovacího podniku (To Economy of Insurance Company). In ČAPKOVÁ, Dana. Ekonomika firiem 1999 (Zborník z medzinárodnej konferencie). 1999th ed. Košice: Ekonomincká univerzita v Bratislavě PHF Košice, 1999, p. 106-111. ISBN 80-225-1212-5. info
  • CIPRA, Tomáš. Pojistná matematika v praxi. Vyd. 1. Praha: HZ Praha, 1994, 273 s. ISBN 80-901495-6-1. info
Assessment methods
The course has a form of lectures organised according to the timetable covering the lecture topics, in-term tests and submission of seminar paper. The course is completed by a written test. The final grade consists of a final test (60%) + semiar paper (20%) + in-term tests (20%).
Language of instruction
Czech
Further comments (probably available only in Czech)
The course is taught annually.
The course is also listed under the following terms Autumn 2006, Autumn 2007.
  • Enrolment Statistics (recent)
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