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This course is offered as:
  • Insurance
  • Principles and Practice of Insurance
This page summarizes the course "Principles and Practice of Insurance" for Spring 2018 semester only. This summary may not be compatible to the same course completed in a different semester.


This course delivers fundamental knowledge on insurance and related issues, including property insurance and life insurance. After successfully completing this course, students will have a conceptual idea on various types of insurance policies, and they will be able to decide which policy is most appropriate in a given situation. This course also covers related mathematical topics, such as, how to find out the amount of compensation to be paid by the insurance companies in different scenarios.

Learning Objectives

After successfully completing this course, the student should be able to:
  • Explain various approaches of risk management
  • Explain how insurance helps to minimize / transfer risks
  • Describe various types of insurance policies
  • Calculate the return from a life insurance policy
  • Identify the facts that need to be disclosed to the insurer
  • Calculate the amount of indemnity to be paid by the insurer
  • Calculate the amount of indemnity when the property is insured by more than one insurers
  • Calculate the burden of each insurers when an insurance contract is shared among multiple insurers

Course materials

Textbook: Chaudhuri, Azizul Huq. "Elements of Insurance." Ed.1. Published by Bangladesh Insurance Academy.

Lecture notes: Other chapter-specific materials will be provided online. It is the responsibility of the students to collect or download the materials. You may visit this page to learn how to download lecture notes.