General Insurance Practice (ACTL90018)
Graduate courseworkPoints: 12.5On Campus (Parkville)
About this subject
Contact information
Semester 1
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 a student should be able to:
- Describe the main features of the Australian General insurance market, including consumers, providers, intermediaries and other stakeholders;
- Understand and Analyse General Insurance and Injury Scheme products;
- Analyse and estimate claims costs for General insurance products using common actuarial techniques;
- Understand the theory underlying the establishment of liabilities for General Insurance entities, and perform simple calculations of such liabilities;
- Perform a reconciliation between two valuations of liabilities;
- Explain and calculate the components of a General Insurance premiums; both in aggregate and at an individual or cohort level;
- Incorporate other features of the General insurance environment into premium calculation, including the behaviour of competitors and monopoly considerations;
- Understand Capital Management of a General insurer, including calculation of regulatory capital;
- Understand and perform calculations for Accounting, Management, Regulatory and other Financial Reporting for a General Insurer.
Last updated: 8 November 2024
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: 8 November 2024
Assessment
| Description | Timing | Percentage |
|---|---|---|
Group assignment. Draft due in week 7.
| Week 10 | 30% |
End-of-semester examination.
| During the examination period | 70% |
Last updated: 8 November 2024
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 26 February 2024 to 26 May 2024 Last self-enrol date 8 March 2024 Census date 3 April 2024 Last date to withdraw without fail 3 May 2024 Assessment period ends 21 June 2024 Semester 1 contact information
Time commitment details
170 hours
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Last updated: 8 November 2024
Further information
- Texts
- Related Handbook entries
- 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.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Last updated: 8 November 2024