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 characteristics 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 international famous 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 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 join insurance conferences in China.

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Professors
Hu, Yi-jen Master of Business, Fengchia University, Taiwan
Liao, Shuh-yuan Master of Business, Fengchia University, Taiwan
Miao, Jerry C. Y. Ph.D. in Finance, National Taiwan University, Taiwan


Associate Professors
Kao, Tong-liang Ph.D. in Management, Ming Chuan University, Taiwan
Hao, Chung-jen Ph.D. in Economics, University of Illinois, U.S.A
Huang, Hsiu-ling Master of Business, Fengchia University, Taiwan
Lai, Yao-shyan Master of Science, Temple University, U.S.A
Lin, Li-chu Master of Business, Fengchia University, Taiwan
Wang, Chi-Ling Ph.D. in Finance, National Taiwan University, Taiwan


Assistant Professors
Tsen, Miao-huei Doctor of Philosophy (Economics), Tohoku University, Japan
Tang, Hui-wen Ph.D. in Management, Nation Sun Yat-sen University, Taiwan


Lecturers
Wu, Yueh-lung Master of Business, National Chengchi University, Taiwan

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Undergraduate Courses

B0037 Reinsurance (2) Development of reinsurance markets; elements and principles; facultative reinsurance; treaty reinsurance---pro rata; treaty reinsurance---surplus share; excess reinsurance; contract wording and accounting.

B0095 Insurance Marketing (2) Sales organization; producers; product development.

B0097 Insurance Law (3) The nature of law; insurance interest agents and brokers; remedies; waiver and estoppels; rescission; reformation; warranties misrepresentation and concealment subrogation.

B0098 Special Projects in Insurance (2) Special topics for synthetic analysis, mainly focusing on current events or newly approved regulations or laws.

B0102 Insurance Accounting (3) Individual transactions; assets; liabilities; capital; surplus; policy reserve liability; summary financial statements.

B0109 Insurance (3) What insurance is all about; risk management and insurance; insurance and the law; insurance contracts policy analysis; limitation on amount of recovery; loss-adjustment provisions.

B0126 Risk Management (3) 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 The Mathematics of Finance (2) The measurement of interest; solution of problems in interest; elementary annuities; more general annuities; amortization schedules and sinking funds; bonds and other securities; miscellaneous topics.

B0405 Personal Insurance I: Life Insurance (2/2) 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 (2) Introduction to private and government health and accident insurance; Product development; Product underwriting, pricing and marketing; Practical issues and regulations.

B0407 Personal Insurance III: Pension Insurance (2) 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) Measurement of risk in life insurance; annuities; net single premiums; net level premiums; gross premiums; life insurance reserves; surrender values; surplus distribution; mathematics of retirement.

B0435 Property Insurance I: Fire Insurance (2) Introduction to property insurance; the characteristics of fire insurance; analysis of fire insurance policy; fire rate and premium; endorsements of allied perils; extra clauses; business interruption insurance.

B0451 Property Insurance II: Transportation (2) 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; concept of air cargo insurance.

B0452 Property Insurance III: Liability Insurance (2) Liability insurance policies; general liability program; professional liability forms; personal liability forms; recent developments in liability insurance; workers' compensation; historical development of workers' compensation insurance policies.

B0478 Health Insurance Special Project (2) Understanding the nature of health; health care; financing health care cost; national health insurance programs; cost estimates of health care.

B0482 Property Insurance IV: Motor Insurance (2) Introduction to motor insurance; motor physical damage coverage and liability coverage; discussion of its merits and demerits.

B0498 Property Insurance V: Casualty Insurance (2) 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) Definition of social insurance; field and functions of social insurance; real meaning of social security; social security and national planning; comparison of social welfare programs in various countries.

B0575 Property Insurance Company Operations (2) 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) 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) 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) 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) Objectives and; 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) This course includes 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.

B0692 International Insurance Markets (2) Explores the path to the global insurance market. The main emphases of the course are well-known international insurance training institutions, rating organizations, insurance networks, and insurance meetings.

B0748 Employee and Social Benefits (2) Introduction; Basic economic factors of employee benefits; Basic factors and reasons for the development of employee benefits; Effects of employee benefits; Design of employee benefits; Methods of paying for employee benefits; Special or advanced topics.

B0749 Insurance English (2) Establishment of writing, reading and translating skills; Method of writing business letters; Oversea insurance product development; International Insurance market.

B0839 Insurance Finance (2) The management of insurance company finance; the development of insurance industry; Risk and return; the actuarial and financial views of risks; the management and measurement of risk; Capital adequacy; the uses of derivatives.

B0854 The Application of Finance (2) The theory of interest; Sinking funds; Price of a bond; Determination of yield rates; the financial analysis of investments in fixed assets; Modern Financial Instruments.

B0855 Insurance Market Analysis (2) The course includes (1) General analysis of insurance markets for life and non-life insurance in Taiwan. (2) General introduction of international insurance industry for life and non-life insurance.

B0856 Long-Term Care Insurance (2) 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 finally.

B0988 Special Topics in Risk Management and Insurance(2) Special topics for synthetic analysis, mainly focusing on current events or newly approved regulations or laws.

B1005 Pension Management (2) Introduction to theory and practice of pension. The current status of Taiwan pension system and the possible problem will be introduced. Theconcept of ALM will be emphasized.

Graduate Courses: Master’s program

T0081 Research Methodology (2) Introduction to research; Computer Technology and Research; Research process; Experimental designs; Data collection methods; Sampling; Data analysis and Interpretation; Research report.

B0127 Risk Management Special Project (3) This course is designed for master 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 modern financial risk management.

M0399 Managerial Economics (2) 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.

B0575 Property Insurance Company Operations (3) 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) 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) IAIS core principle, open market, market conduct, solvency, RBC.

B0793 Analysis for Decision Making in Reinsurance (2) Analysis of facultative reinsurance or proportional treaty reinsurance and non-proportional treaty reinsurance; Analysis of reinsurance commission and profit commission; Retention decision; Reinsurance planning; Alternative risk transfer, case study.

B0795 Introduction to Statistical Decision Theory in Insurance (2) 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 (2) The contents of this course primarily includes (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) 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) Principles of insurable interest, utmost good faith, indemnity, contribution, subrogation, and proximate cause applied in fire insurance; Analysis of homeowners policies; Practice and theory of business interruption insurance.

B0799 Advanced Study in Casualty Insurance (2) 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) Includes five parts: (1) Study in u-linked life insurance product, (2) the impact on Taiwan life insurance market after entering WTO, (3) article 107of life insurance law, (4) study in moral hazard in life and health insurance, and (5) life insurance investment management.

B0801 Advanced Study in Annuity (2) 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; Market-value annuity.

B0802 Advanced Study in Health and Accident Insurance (2) Definition and principles of health and accident insurance; HMO and DRG system; moral hazard associated with health and accident insurance; national health insurance.

B0830 Advanced Study in Social Insurance (2) The principles and concepts of social insurance include pension insurance, health insurance, unemployment insurance, employment injury insurance, finance and current social insurance schemes.

B0831 Comparative Study in the Laws and Regulations of Insurance (2) The comparative studies of our current Insurance Law with the laws of the U.S.A, the U.K., Japan, Germany and France. By the way of these comparative studies, we will try to discuss the trend for amending the law in the class.

B0878 Special Topics in Casualty Actuarial Science (2) Foundations of pricing for casualty insurance; criteria of ratemaking; loss reserving; modeling loss distribution and its applications; practical risk theory; stochastic analysis of insurance business.

B0879 Insurance Current Events Analysis (2) 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.

B0880 Actuarial Seminar for life insurance (2) Basic Actuarial Mathematics; Pricing assumptions; Life insurance cash flows; Reserves; Required capital; Profit measurement and analysis; Annuity products and Investment products; Stochastic modeling.

B0631 Financial Management in Insurance (2) Introduction to financial management; risk management; derivative markets for insurers; security insurance risk; risk based capital; value at risk.

B0882 International Risk and Insurance (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 (2) 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 on Personal Insurance (3) Advanced Study on Personal Insurance will focus on topic discussions, including risk-based capital, policy dividen, U-link policy, long-term care and bancassurance, etc.

B0987 Advanced Study on Property and Liability Insurance (3) Analysis and discussion on several of property and liability insurance policies, including fire, automobile, marine, inland marine, aviation, liability, guarantee, and other property insurance.

B1005 Pension Management (3) 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.

B1025 Advanced Study on Actuarial and Financial Topics (2) Life Insurance Cash Flows; Profit Measurement and Analysis; Insurance Products Innovation; Risk based capital, Asset and Liability Management, Stochastic modeling.

B1061 Stochastic Calculus and its Applications(2) Main contents includes

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