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General Insurance Practice (ACTL90018)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Year of offer2018
Subject levelGraduate coursework
Subject codeACTL90018
Semester 1
FeesSubject EFTSL, Level, Discipline & Census Date

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: 11 January 2018