Structuring the Beginning Insurance Course: An Optimum Mix of Business and Personal Uses of Insurance

Abstract

According to the most recent information available, approximately 457 colleges and universities offer introductory or survey insurance courses at the undergraduate level.' In some schools the introductory insurance course is required for business administration or insurance majors, but in over one-half of the schools it is offered on an elective basis. The curricula of many institutions include additional insurance courses beyond the introductory level; however, the much smaller enrollment figures for advanced courses suggest that the beginning course is the only exposure to collegiate instruction in risk and insurance for many students. This may at least partially explain why some instructors attempt to cover a rather formidable range of topics. Yet, with the limited time available (typically one semester or the equivalent thereof), it is often exceedingly difficult to arrive at an appropriate balance between depth and breadth of treatment. The problem is further compounded when, as is often the case, the class contains students with little or no background in business law, finance, statistics, and other functional areas closely related to insurance. A carefully designed program of prerequisites may help alleviate the problem, but at the same time such pre-