After successful completion of the course, students are able to

• reproduce essential insurance-specific elements in connection with the economic theory,
• demonstrate their understanding of the history of insurance and the insurance business,
• define the concept and nature of insurance,
• explain the economic basis and the significance of insurance,
• explain the classification of insurance,
• discuss the legal basis of insurance and insurance supervision,
• describe the organizational structure of insurance companies,
• explain the sales organization of the insurance companies including commission settlement,
• describe the internal operating departments of the insurance companies, including premium settlement,
• explain the processing of claims by insurance companies,
• illustrate the insurance companies' capital investment, including the applicable regulations.

Theoretical Economics, History of insurance, Subjects and Essence of Insurance, Economic Basics and Significance of Insurance, Classification of Insurance, Legal bases of Insurance and Insurance regulation, Organisational structure of insurance companies, Sales organisation of insurance companies, Operations departments of insurance companies, Claims processing, Capital investments of insurance companies

The basic contents and concepts are presented by the head of the LVA and illustrated and discussed with the help of examples.

The performance is assessed by an examination at the end of the semester.
See: https://fam.tuwien.ac.at/lehre/pr/

Anmeldung für Vorlesungsunterlagen und TUWEL-Zugang notwendig.

Lecture notes for this course are available. They can be downloaded as PDF from http://www.fam.tuwien.ac.at/lehre/data/ (quite on top).
Additionally hardcopies of the slides of the lecturer will be provided at the lecture - please register as soon as possible in TISS for this lecture so that enough copies can be prepared.