Faculty of Business and Economics

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Monash University Handbook 2010 Undergraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

FacultyFaculty of Business and Economics
OfferedNot offered in 2010


This unit is designed to introduce the concept of risk transfer as an outcome of risk management decision-making. It introduces the concept and application of insurance and the principals underlying the insurance purchase. It will look at risk and its treatment, the insurance mechanism and further develop risk as a business philosophy.


The learning goals associated with this unit are to:

  • demonstrate an understanding of the risk transfer decision-making process and explain the concept of risk within an insurance framework
  • explain the principles of risk allocation in non-insurance contracts
  • analyse the core concepts underlying the main insurance industry sectors of life, accident, health, property and liability
  • discuss and comment on the implications of the growing convergence of the broader financial services industry
  • apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with risk transfer.


Within semester assessment: 30%
Examination (3 hours): 70%


AFX2021 or AFX3141