IBF304 Risk and Insurance
IBF304 Risk and Insurance
Syllabus | International University of Sarajevo - Last Update on Mar 03, 2026
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International Business and Finance
Šejma Aydin
Course Lecturer
Course Objectives
This course examines the nature of risk and how it can be managed. Insurance is one of the tools we use to respond to the risk, but it is only one of the multitudes of options available to manage risk within our risk tolerance. This course covers legal principles as they relate to insurance, explores government regulation of insurance, and examines insurance contracts.
Learning Outcomes
After successful completion of the course, the student will be able to:
Course Materials
Required Textbook
McNamara, R. & Rejda (2014). Principles of Risk Management And Insurance. Pearson Series in Finance.
Additional Literature
NoneTeaching Methods
The methods include lectures (which may involve power point presentation
Video and audio aids)
Student presentations
Projects and class discussions.
Weekly Topics
| Week | Topic | Readings / References |
|---|---|---|
| 1 | Introductory class | Course Syllabus |
| 2 | Risk and its treatment | Chapter 1 |
| 3 | Insurance and risk | Chapter 2 |
| 4 | Quiz I, Introduction to risk management | Chapter 3 |
| 5 | Types of insurers and marketing systems | Chapter 5 |
| 6 | Insurance company operations | Chapter 6 |
| 7 | Financial operations of insurers | Chapter 7 |
| 8 | MID-TERM EXAM | |
| 9 | Life insurance and buying life insurance | Chapters 12 and 13 |
| 10 | Health insurance | Chapter 14 |
| 11 | Quiz II, Homeowners insurance (section 1) | Chapter 20 |
| 12 | Homeowners insurance (section2) | Chapter 21 |
| 13 | Auto insurance | Chapter 22 |
| 14 | Project presentations | |
| 15 | Review and Discussion |
Course Schedule (All Sections)
Office Hours & Room
| Day | Time | Office | Notes |
|---|---|---|---|
| Monday | 14:00 - 15:00 | IUS Campus |
Assessment Methods and Criteria
Assessment Components
Final Exam
AI: Not AllowedAlignment with Learning Outcomes :
Midterm exam
AI: Not AllowedAlignment with Learning Outcomes :
Term project and presentation
AI: Not AllowedAlignment with Learning Outcomes :
Quizes
AI: Not AllowedAlignment with Learning Outcomes :
IUS Grading System
| Grading Scale | IUS Grading System | IUS Coeff. | Letter (B&H) | Numerical (B&H) |
|---|---|---|---|---|
| 0 - 44 | F | 0 | F | 5 |
| 45 - 54 | E | 1 | ||
| 55 - 64 | C | 2 | E | 6 |
| 65 - 69 | C+ | 2.3 | D | 7 |
| 70 -74 | B- | 2.7 | ||
| 75 - 79 | B | 3 | C | 8 |
| 80 - 84 | B+ | 3.3 | ||
| 85 - 94 | A- | 3.7 | B | 9 |
| 95 - 100 | A | 4 | A | 10 |
Late Work Policy
Information about late submission policies will be shared during class and posted in this section. Please check back for official guidelines.
ECTS Credit Calculation
📚 Student Workload
This 6 ECTS credit course corresponds to 150 hours of total student workload, distributed as follows:
Lecture hours
45 hours ⏳ (15 week × 3 h)
Home study
30 hours ⏳ (15 week × 2 h)
Quizes
16 hours ⏳ (8 week × 2 h)
Term project
30 hours ⏳ (10 week × 3 h)
Midterm exam study
14 hours ⏳ (1 week × 14 h)
Final exam study
15 hours ⏳ (1 week × 15 h)
150 Total Workload Hours
6 ECTS Credits
Course Policies
Academic Integrity
All work submitted must be your own. Plagiarism, cheating, or any form of academic dishonesty will result in disciplinary action according to university policies. When in doubt about citation practices, consult the instructor.
Attendance Policy
Students are expected to adhere to the attendance requirements as outlined in the International University of Sarajevo Study Rules and Regulations. Excessive absences, whether excused or unexcused, may impact academic performance and eligibility for assessment. Mandatory sessions (e.g., labs, workshops) require attendance unless formally exempted. For detailed policies on absences, documentation, and penalties, please refer to the official university regulations.
Technology & AI Policy
Laptops/tablets may be used for note-taking only during lectures. Phones should be silenced and put away during all class sessions. Audio/video recording requires prior permission from the instructor.
Artificial Intelligence (AI) Usage: The use of AI tools (e.g., ChatGPT, Copilot, Gemini) varies by assessment component. Please refer to the AI usage indicator next to each assessment item in the Assessment Methods and Criteria section above. Submitting AI-generated content as your own work, where AI is not explicitly allowed, constitutes an academic integrity violation.
Communication Policy
All course-related communication should occur through official university channels (institutional email or SIS). Emails should include [IBF304] in the subject line.
Academic Quality Assurance Policy
Course Academic Quality Assurance is achieved through Semester Student Survey. At the end of each academic year, the institution of higher education is obliged to evaluate work of the academic staff, or the success of realization of the curricula.
Learning Tips
Be prepared to contribute thoughtfully during class discussions, labs, or collaborative work. Active participation deepens understanding and encourages critical thinking.
Complete assigned readings or prep materials before class. Take notes, highlight key ideas, and jot down questions. Aim to grasp core concepts and their applications—not just facts.
Use course frameworks or methodologies to analyze problems, case studies, or projects. Begin early to allow time for reflection and refinement. Seek feedback to improve your work.
Don’t hesitate to reach out when something is unclear. Use office hours, discussion boards, or peer networks to clarify concepts and stay on track.
Syllabus Last Updated on Mar 03, 2026 | International University of Sarajevo
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Referencing Curricula Print this page
| Course Code | Course Title | Weekly Hours* | ECTS | Weekly Class Schedule | ||||||
| T | P | |||||||||
| IBF304 | Risk and Insurance | 3 | 0 | 6 | Tuesday 12:00-14:50 | |||||
| Prerequisite | ECON221 | It is a prerequisite to | - | |||||||
| Lecturer | Šejma Aydin | Office Hours / Room / Phone | Monday: 14:00-15:00 |
|||||||
| saydin@ius.edu.ba | ||||||||||
| Assistant | Assistant E-mail | |||||||||
| Course Objectives | This course examines the nature of risk and how it can be managed. Insurance is one of the tools we use to respond to the risk, but it is only one of the multitudes of options available to manage risk within our risk tolerance. This course covers legal principles as they relate to insurance, explores government regulation of insurance, and examines insurance contracts. | |||||||||
| Textbook | McNamara, R. & Rejda (2014). Principles of Risk Management And Insurance. Pearson Series in Finance. | |||||||||
| Additional Literature |
|
|||||||||
| Learning Outcomes | After successful completion of the course, the student will be able to: | |||||||||
|
||||||||||
| Teaching Methods | The methods include lectures (which may involve power point presentation, video and audio aids), student presentations, projects and class discussions. | |||||||||
| Teaching Method Delivery | Face-to-face | Teaching Method Delivery Notes | ||||||||
| WEEK | TOPIC | REFERENCE | ||||||||
| Week 1 | Introductory class | Course Syllabus | ||||||||
| Week 2 | Risk and its treatment | Chapter 1 | ||||||||
| Week 3 | Insurance and risk | Chapter 2 | ||||||||
| Week 4 | Quiz I, Introduction to risk management | Chapter 3 | ||||||||
| Week 5 | Types of insurers and marketing systems | Chapter 5 | ||||||||
| Week 6 | Insurance company operations | Chapter 6 | ||||||||
| Week 7 | Financial operations of insurers | Chapter 7 | ||||||||
| Week 8 | MID-TERM EXAM | |||||||||
| Week 9 | Life insurance and buying life insurance | Chapters 12 and 13 | ||||||||
| Week 10 | Health insurance | Chapter 14 | ||||||||
| Week 11 | Quiz II, Homeowners insurance (section 1) | Chapter 20 | ||||||||
| Week 12 | Homeowners insurance (section2) | Chapter 21 | ||||||||
| Week 13 | Auto insurance | Chapter 22 | ||||||||
| Week 14 | Project presentations | |||||||||
| Week 15 | Review and Discussion | |||||||||
| Assessment Methods and Criteria | Evaluation Tool | Quantity | Weight | Alignment with LOs | AI Usage |
| Final Exam | 1 | 30 | Not Allowed | ||
| Semester Evaluation Components | |||||
| Midterm exam | 1 | 30 | Not Allowed | ||
| Term project and presentation | 1 | 20 | Not Allowed | ||
| Quizes | 2 | 30 | Not Allowed | ||
| *** ECTS Credit Calculation *** | |||||
| Activity | Hours | Weeks | Student Workload Hours | Activity | Hours | Weeks | Student Workload Hours | |||
| Lecture hours | 3 | 15 | 45 | Home study | 2 | 15 | 30 | |||
| Quizes | 2 | 8 | 16 | Term project | 3 | 10 | 30 | |||
| Midterm exam study | 14 | 1 | 14 | Final exam study | 15 | 1 | 15 | |||
| Total Workload Hours = | 150 | |||||||||
| *T= Teaching, P= Practice | ECTS Credit = | 6 | ||||||||
| Course Academic Quality Assurance: Semester Student Survey | Last Update Date: 27/03/2026 | |||||||||