A certificate in Risk Management and Insurance provides training in risk management for personal and commercial lines of insurance, and prepares students for the State of Hawaiʻi licensure examination and other professional certifications. Courses cover personal property and liability insurance, life and health insurance, retirement planning, business law, loss prevention, risk retention, self insurance, and risk financing techniques.
Students completing the certificate in Risk Management and Insurance will be better prepared to obtain an insurance license and pass the Chartered Property Casualty Underwriter (CPCU) examination and course of study. UH West Oʻahu worked in partnership with Hawaiʻi’s insurance industry to create a Risk Management and Insurance certificate specifically to address the growing need for skilled insurance professionals locally and nationwide. The program is presently offered at UH West Oʻahu in-class with future plans for distance learning instruction.
Careers & Earning Potential
According to the Insurance Fact Book 2009, the insurance industry in the U.S. employs 2.3 million people nationally. In the State of Hawaiʻi, the insurance industry employs over 30,000 individuals, and insurance companies write approximately 9 billion in direct written premiums every year. Risk management and insurance companies are often recognized as some of the best places to work while insurance graduates boast a nearly 100% job placement rate. The State of Hawaiʻi DBEDT Data Book 2008 indicates the insurance industry supports over 500 businesses with an annual payroll of 418 million. The average full-time salary is estimated at 59,000 per year.
Certificate graduates may choose to further their education and pursue a baccalaureate degree in finance, economics, accounting, or other related degrees. UH West Oʻahu is planning to establish a Bachelor of Arts degree with a concentration in Risk Management and Insurance in the future.
BUSA 308 Principles of Risk Management and Insurance
The primary focus will be on risk management and insurance techniques for dealing with potential losses to individuals and organizations. In this course, students examine the principles of insurance and insurance contracts as well as discuss insurance industry operations and the various professions within the industry.
BUSA 324 Business Law
Introduction to the legal environment in which business operates with particular attention to the principles of law relating to contracts, agencies, partnerships, corporations, and government regulations.
BUSA 328 Personal Lines Insurance
This course provides an in-depth study of personal risk management and insurance and examines personal property and liability insurance, life and health insurance, and retirement planning. The course emphasizes the provisions of the insurance coverage and how the insurance is used to address personal risk management and financial planning needs.
BUSA 338 Commercial Insurance
The objective of this course is to examine the principles and basic concepts of commercial lines property and casualty insurance. The primary emphasis will be on the property and liability loss exposures faced by most organizations and the corresponding types of insurance for covering those loss exposures.
BUSA 428 Enterprise Risk Management
This course examines how corporations approach the problem of dealing with risks in today’s complex marketplace. Emphasis is given to the economic impact of losses on the firm, and alternative methods of dealing with managing and financing risk. Methods include loss prevention, risk retention, self-insurance, insurance purchasing, and risk financing techniques available through the capital markets. The course also covers today’s global marketplace and the risks faced by multinational firms.
A variety of internships will soon be available at insurance companies across the state. Risk Management and Insurance students may complete internship programs at
Atlas Insurance Agency
DTRIC Insurance, Ltd.
State Farm Insurance Co.
Dr. Frank Kudo, Associate Professor