COLLEGE OF BUSINESS
Department of Insurance
Degrees Offered:B.A., M.B.A.
TO Webpage:
Chair: Kao, Tong-liang
The Department
With the rapid progress in economy and the rise of living standards, insurance has become an important instrument in family finance and business management. To train students for future careers in this field, the Department of Insurance and Banking was inaugurated in Tamkang University in 1965. In 1973, the insurance program was developed into the Department of Insurance, the first in Taiwan. Two years later, the evening school of the department was added. In 1991, one more class of students was added to the evening school to meet the growing demands of the insurance market. In 1997, the evening school was changed to the regular program in order to conform to the revision of the college act. Since then, three classes of students are enrolled in the program every academic year. The Master's Program in Insurance Management was established in 2000, and Executive MBA (EMBA) in 2001. The purpose of this program is to incorporate the resources of government, industry, and university to enhance the research level.
There are four features in our program. First of all, the faculty in our department has both academic background and working experience. Secondly, the course is designed to emphasize theoretical area and practical topics. It includes business travel, speech, and discussion. Thirdly, the department recruits internationally renown insurance scholars to broaden students' perspectives. Finally, the department encourages students to get professional licenses which are helpful to their future career planning.
Our future development will be the following. First, our focus will be shifted to a finance-oriented one. In order to meet the change of financial environment, we will intensify the area in international insurance and financial insurance. Also, we want to keep in touch with government agencies and related institutions to get more projects. Finally, we want to make some academic exchange with foreign universities and encourage our faculty and graduate students to participate in the insurance conferences in China.
Faculty
Professors
Hu, Yi-jen ; Liao, Shuh-yuan
Associate Professors
Hao, Chung-jen ; Huang, Hsiu-ling ; Kao, Tang-liang ; Lai, Yao-shyan ; Lin, Li-chu ; Miao, Jerry C. Y.
Assistant Professors
Tsen, Miao-huei ; Tien, Jyun-ji
Lecturer
Wu, Yueh-lung
Degree Requirements
The Department of Insurance offers one program at the undergraduate level (Bachelor of Business) and two programs at the graduate level (Master's). The degree requirements for the programs are as follows:
- Requirements for a Bachelor in Insurance:
Successful completion of 142 credits of courses, including 111 credits of required courses and 25 credits of elective insurance courses. - Requirements for an Executive Master's degree in Business Administration (EMBA):
Successfully complete 36 credits, including 15 credits of required courses and 21 credits of elective courses offered by the institute. Students are also required to submit a written thesis with the guidance and approval from their supervisors and pass an oral examination. - Requirements for a Master's in Insurance:
Successful completion of 36 credits of courses, including 14 credits of required courses and 22 credits of elective courses offered in the department. Students are also required to submit a written master's thesis completed under the supervision of a faculty member and pass an oral examination.
Course Descriptions
Undergraduate Courses
B0033 Essentials of the Civil Law (2/2) This course addresses the basic concept of the Civil Law. The instructor will particularly focus on the general principles of the Civil Law, family law and the law of inheritance.
B0037 Reinsurance (0/2) Topics of this course include development of reinsurance markets, elements and principles, facultative reinsurance, treaty reinsurance-pro rata, treaty reinsurancesurplus share, excess reinsurance, contract wording and accounting.
B0071 Investment (3/0) This course introduces fundamental of investing. We will talk about Taiwan stock markets, global stock markets, modern portfolio theory, CAPM, fundamental analysis, technical analysis, and derivatives. Every student will be expected to be a good listener and questioner. A final report and two exams are required in this course.
B0097 Insurance Law (3/0) Topics of this course include the nature of law, insurance interest agents and brokers, remedies, waiver and estoppels, rescission, reformation, warranties misrepresentation and concealment subrogation.
B0102 Insurance Accounting (0/3) This course covers individual transactions, assets, liabilities, capital, surplus, policy reserve liability, and summary financial statements.
B0109 Insurance (3/0) Topics of this course include risk and risk management; insurance contract principles; insurance organizations; insurance marketing; insurance pricing; life and casualty insurance.
B0126 Risk Management (3/0) This course covers basic definitions: risk, degree of risk, peril, hazard, loss; objectives and process of risk management, methods of risk handling, risk control, risk financing; risk analysis: life, property and liability exposures.
B0155 Mathematics of Finance (2/0) This required course for sophomores covers the measurement of interest; solution of problems in interest; elementary annuities and more general annuities.
B0173 Commercial Law (2/0) This course aims to acquaint the students with the concepts of laws dealing with related industrial and business. The instructor will focus on the Company Law and the law of bills and notes.
B0405 Personal Insurance I: Life Insurance (2/2) This course covers product analysis of the contract; organization, management, and regulation of life insurance companies; reinsurance; law; and problems of life insurance in the ROC.
B0406 Personal Insurance II Health and Accident Insurance (0/2) This course offers an introduction to private and government health and accident insurance; product development; product underwriting, pricing and marketing; and practical issues and regulations.
B0407 Personal Insurance III: Pension Insurance (0/2) This course covers the development of pension and annuity insurance, elements and principles, individual annuity, business pension program, national pension system, international pension system comparison.
B0417 Life Insurance Mathematics (2/2) This course covers measurement of risk in life insurance, annuities, net single premiums, net level premiums, gross premiums, life insurance reserves, surrender values, surplus distribution, and mathematics of retirement.
B0435 Property Insurance I: Fire Insurance (2/0) This course includes an introduction to property insurance, characteristics of fire insurance, analysis of fire insurance policy, fire rate and premium, endorsements of allied perils, extra clauses, and business interruption insurance.
B0451 Property Insurance II: Transportation (0/2) This course offers an introduction and definition of transportation insurance and marine insurance, perils of the seas fires, etc., total loss, general average, particular average, institute clause, concept of inland marine insurance, and concept of air cargo insurance.
B0452 Property Insurance III: Liability Insurance (0/2) This course covers liability insurance policies, general liability program, professional liability forms, personal liability forms, recent developments in liability insurance, workers' compensation, and historical development of workers' compensation insurance policies.
B0482 Property Insurance IV: Motor Insurance (2/0) This course offers an introduction to motor insurance, motor physical damage coverage and liability coverage, discussion of its merits and demerits.
B0498 Property Insurance V: Casualty Insurance (2/0) This course covers the following topics: nature and scope of casualty insurance; crime insurance, engineering insurance, aviation insurance; fidelity and surety bonds; credit insurance and credit card insurance.
B0574 Act Insurance I: Social Insurance (2/2) This course offers a definition of social insurance, field and functions of social insurance, real meaning of social security, social security and national planning, and comparison of social welfare programs in various countries.
B0575 Property Insurance Company Operations (2/0) This course covers the following topics: Insurance market dynamics; Management organization; functions of operation: marketing, production, pricing, underwriting, reinsurance, loss adjustment; Investment practices, statutory insurance accounting requirements; Analysis of financial statements; Loss prevention research by insurers.
B0576 Personal Insurance Company Operations (2/0) This course covers basic theories and practices for Personal Insurance management, current status and future development of Personal Insurance in Taiwan, Personal Insurance finances, Personal Insurance organizations operating, Personal Insurance supervisions and management, Personal Insurance contracts and regulations.
B0617 Product Design for Property Liability (2) This course covers how to reevaluate old policies; to understand marketplace and risk management; to prepare business for action; to know insurance coverage options; to motivate insurance people; and effective negotiation tactics.
B0629 Insurance Regulations and Supervisions (3) Topics of this course include: Environment of insurance regulations and supervisions; Techniques and principles; Product and pricing control; Policy reserve control; Distribution channel control; Accounting and finance management; Investment management; Manpower management; Asset liability management; Retention and reinsurance management.
B0630 Casualty Actuarial Science (3/0) This course covers the following: Objectives; Principles of Rate-Making; Loss Ratio Calculation; Pure Premium Method; Claim Rate Method; Experience Rating; Retrospective Rating; Schedule Rating; Rating Audit; Unearned Premium Reserve; Loss Reserve; Profit Analysis.
B0663 Act Insurance II: Export Insurance (2/0) This course deals with the risk of international trade, the character and operation of Export Insurance, Export Insurance in U.K., Export and Import Insurance in Japan, Export Insurance in R.O.C. and the development of Export Insurance.
B0700 Employee Benefit Plan (2/0) This class introduces the meaning of employee benefit, explains the significance of employee benefit in term of both employer cost and benefits provided to employees, and identifies the factors that have influenced the growth of group insurance and explain the significance of each factor. It covers social insurance plans, group life insurance, group disability income insurance, group medical expense insurance, and retirement plans.
B0856 Long-Term Care Insurance (2/0) For many students, long-term care is synonymous with the nursing home. The clientele are defined on the basis of disability, both younger and older people with disability. Thus the policy contest, its nature and purpose and care service will be discussed in this course.
B0879 Insurance Current Events Analysis (2/0) This course analyzes the cause and background on the hot insurance topics in the current insurance circle, its impact for insurance industry and the whole consumers.
B0988 Special Topics in Risk Management and Insurance (0/2) This course covers special topics for synthetic analysis, mainly focusing on current events or newly approved regulations or laws.
B1005 Managing Pension Plan (0/2) This course presents an introduction to theory and practice of pension. The current status of Taiwan pension system and the possible problem will be introduced. The concept of ALM will be emphasized.
B1154 Selected Topics in Non-life Insurance (2/0) This class introduces the famous recent case of non-life insurance. The discussion involves different viewpoints, including insurer and insured. Through this training, students will have a better understanding of the laws which govern non-life insurance.
B1204 Financial Management Analysis (0/2) Topics of this course include yield rates; amortization schedules and sinking funds; bonds and other securities; more advanced financial analysis and some practical applications.
B1241 Practice of Asset Liability Management for Insurance Company (2/0) This course covers several important topics: Asset Liability Management (ALM) for insurance company including balance sheet; Risk Based Capital (RBC); asset liability management for life and property-liability insurers.
Master's program
B0127 Risk Management Special Project (0/3) This course is designed for master's students to understand the contemporary developments in techniques of risk management and how these techniques are used to identify, analyze and manage risks in business. The course includes not only the traditional pure risk management but also the modern financial risk management.
B0575 Property Insurance Company Operations (3/0) Topics of this course include: Insurance Market Analysis; Organization Management; Marketing Systems; Production of Insurers; Policy pricing; Underwriting Policy; Reinsurance Placing; Loss Adjustment; Investment Practices; Statutory Insurance Accounting Requirements; Analysis of Financial Statements; Loss Prevention and Risk Management to Insurers.
B0576 Personal Insurance Company Operations (3/0) This course presents questions and discussions on Personal Insurance operating, discussions on Personal Insurance organizations operating problems, researches and discussions on Personal Insurance finances, analysis of operating strategies, overall discussions on Personal Insurance operating.
B0629 Insurance Regulations and Supervisions (3/0) This course presents IAIS core principle, open market, market conduct, solvency, and RBC.
B0631 Financial Management of Insurance (0/3) This course covers an introduction to financial management; risk management; derivative markets for insurers; security insurance risk; risk based capital; value at risk.
B0795 Introduction to Statistical Decision Theory in Insurance (2/0) This course covers an introduction to basic decision models including decision making environments, decision making criteria, decision tree, and Bayes' rule and decision trees; Bayesian analysis including prior information, posterior distribution and Bayesian inference; computer simulation.
B0796 Insurance Theory (0/3) The contents of this course include: (1) the theory of insurance, (2) the finance of insurance, (3) the status quo of our insurance management, and (4) the current problems for our insurance and the improvements thereof.
B0797 Advanced Study in Transportation Insurance (2/0) This course includes the conditions of B/L (Hague Rules, Hague-Visby Rules, Hamburg Rules), the analysis of Institute Cargo Clauses and Institute Hull Clauses, the key divergences between English and American Law of Marine Insurance.
B0798 Advanced Study in Fire Insurance (2/0) This course presents principles of insurable interest, utmost good faith, indemnity, contribution, subrogation, and proximate cause applied in fire insurance; analysis of homeowners policies, and practice and theory of business interruption insurance.
B0799 Advanced Study in Casualty Insurance (0/2) Topics of this course include: Automobile Insurance; Crime Insurance; Credit Insurance; Bonding Insurance; Engineering Insurance; Aviation Insurance; Title Insurance; Glass Insurance; Personal Accident Insurance; Other Miscellaneous Casualty Insurance; Multiple Lines Insurance; Special multi-perils policy.
B0800 Advanced Study in Life Insurance (2/0) This course includes five parts: (1) study in u-linked life insurance product; (2) the impact on Taiwan life insurance market after entering the WTO; (3) article 107of life insurance law; (4) study in moral hazard in life and health insurance; and (5) life insurance investment management.
B0802 Advanced Study in Health and Accident Insurance (2/0) This course presents definition and principles of health and accident insurance, HMO and DRG system, moral hazard associated with health and accident insurance, and national health insurance.
B0830 Advanced Study in Social Insurance (2/3) The principles and concepts of social insurance include pension insurance, health insurance, unemployment insurance, employment injury insurance, finance and current social insurance schemes, which will be covered in this course.
B0831 Comparative Study in the Laws and Regulations of Insurance (2/3) This course offers comparative studies of our current Insurance Law with the laws of the U.S.A, the U.K., Japan, Germany and France. By way of these comparative studies, we will try to discuss the trend for amending the law in the course.
B0879 Insurance Current Events Analysis (2/0) This course includes: (1) analyses of insurance big events in both local and international markets with regard to claims, underwriting and marketing; and (2) comments on local government insurance policies.
B0882 International Risk and Insurance (0/2) The purpose of this course is to encourage students to reflect thoughtfully about the effects of change on risk and its management in an international context. This course emphasize : The Political, Legal, Physical and Technological Environments Worldwide; Insurance and Risk Management in an International Setting; and The Future Environment for International Risk and Insurance.
B0883 Advanced Study in Long-Term Care Insurance (0/2) Topics of this course includes: Policy contest; Development of policy; Nature and purpose of Long-term care; spectrum of care; care giving in family; the index of ADLs and IADLs; the Assessment and the Regulation of Quality. Aging and Technology; Financing.
B0925 Advanced Study in Personal Insurance (0/3) This course focuses on topic discussions, including risk-based capital, policy dividen, U-link policy, long-term care and bancassurance, etc.
B0987 Advanced Study in Property and Liability Insurance (0/3) This course covers analysis and discussion on property and liability insurance policies, including fire, automobile, marine, inland marine, aviation, liability, guarantee, and other property insurance.
B1005 Managing Pension Plan (2/3) Topics of this course include: Introduction to DB and DC plans; choosing the best pension plan; establishing pension investment policy; the asset allocation decision; setting the strategic asset allocation; measuring the investment performance of pension funds; improving pension fund investment performance; measuring pension fund risk; risk management strategies using derivative securities; managing managers and the costs of investing; recent development in pension management.
B1061 Stochastic Calculus and its Applications(0/2) Main topics of this class includ σ-fields, Brownian motions, Ito Lemma, stochastic differential equations, change of probability measure and applications to financial derivatives, stochastic interest rate in life insurance pricing, etc.
B1232 Advanced Study in Annuity Insurance (2/0) This course includes Development of pension market, Defined Benefit (DB), Defined Contribution (DC), Employee Stock Ownership Plan (ESOP), Stock Bonus Plan, Tax-sheltered Annuity, Individual Retirement Account, 401 (K) plan, and Market-value annuity.
B1233 Practice of Asset Liability Management for Insurance Company (0/2) This course covers several important topics of Asset Liability Management (ALM) for insurance company including balance sheet; Risk Based Capital (RBC); asset liability management for life and property-liability insurers.
M0399 Managerial Economics (2/0) This course aims to train the students in the methodology of making decisions, with special attention paid to pricing strategies, game theory, asymmetry information, and risk and insurance.
T0081 Research Methodology (0/2) Topics of this course include: Introduction to research; Computer Technology and Research; Research process; Experimental designs; Data collection methods; Sampling; Data analysis and Interpretation; Research report.
