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General Insurance Practice (ACTL90018)
Graduate courseworkPoints: 12.5On Campus (Parkville)
For information about the University’s phased return to campus and in-person activity in Winter and Semester 2, please refer to the on-campus subjects page.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 1
Please refer to the LMS for up-to-date subject information, including assessment and participation requirements, for subjects being offered in 2020.
Overview
Availability | Semester 1 |
---|---|
Fees | Look up fees |
Topics include the Australian General Insurance industry and products, actuarial estimation of claims cost, general insurance liabilities, general insurance pricing, capital management, accounting and regulatory reporting.
Intended learning outcomes
On successful completion of this subject, students should be able to;
LO1 Describe the main features of the Australian General insurance market, including consumers, providers, intermediaries and other stakeholders;
LO2 Understand and Analyse General Insurance and Injury Scheme products;
LO3 Analyse and estimate claims costs for General insurance products using common actuarial techniques;
LO4 Understand the theory underlying the establishment of liabilities for General Insurance entities, and perform simple calculations of such liabilities;
LO5 Perform a reconciliation between two valuations of liabilities;
LO6 Explain and calculate the components of a General Insurance premiums; both in aggregate and at an individual or cohort level;
LO7 Incorporate other features of the General insurance environment into premium calculation, including the behaviour of competitors and monopoly considerations;
LO8 Understand Capital Management of a General insurer, including calculation of regulatory capital;
LO9 Understand and perform calculations for Accounting, Management, Regulatory and other Financial Reporting for a General Insurer.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ACTL90004 | Insurance Risk Models | Semester 1 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Entry into the Master of Commerce (Actuarial Science)
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 3 November 2022
Assessment
Due to the impact of COVID-19, assessment may differ from that published in the Handbook. Students are reminded to check the subject assessment requirements published in the subject outline on the LMS
Description | Timing | Percentage |
---|---|---|
Group assignment. Draft due in week 7.
| Week 10 | 30% |
End-of-semester examination.
| During the examination period | 70% |
Last updated: 3 November 2022
Dates & times
- Semester 1
Principal coordinator David Heath Mode of delivery On Campus (Parkville) Contact hours 3 hours of lectures and/or tutorials per week. Total time commitment 170 hours Teaching period 2 March 2020 to 7 June 2020 Last self-enrol date 13 March 2020 Census date 30 April 2020 Last date to withdraw without fail 5 June 2020 Assessment period ends 3 July 2020 Semester 1 contact information
Time commitment details
170 hours
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
There are no specifically prescribed or recommended texts for this subject.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Commerce (Actuarial Science) - Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Last updated: 3 November 2022