Simon Fraser University
Engaging the World

Course Outlines

Fall 2026 - RISK 101 D100

Introduction to Insurance (3)

Class Number: 6052

Delivery Method: In Person

Overview

  • Course Times + Location:

    Sep 9 – Dec 7, 2026: Mon, Wed, Fri, 1:30–2:20 p.m.
    Burnaby

  • Exam Times + Location:

    Oct 26, 2026
    Mon, 6:30–8:30 p.m.
    Burnaby

Description

CALENDAR DESCRIPTION:

General overview of universally useful concepts in insurance, pensions and financial management. Typical life, health and property & casualty insurance products; underwriting; pricing; reserving; regulation; social insurance; retirement plans and annuities; financial planning: mortgages, loans, wealth management. Students with credit for ACMA 101 may not take this course for further credit. Quantitative.

COURSE DETAILS:

This course is an introduction to insurance products and financial planning. The topics covered include

Introduction: insurance concepts, time value of money, probability, expected value and standard deviation

Property & Casualty insurance: frequency and severity, car insurance (coverage, risk classification, experience ratings), home insurance (coverage, types of policies)

Health insurance: individual versus group coverage, health benefits in Canada, private medical plans, coverage modifications (deductible, coinsurance, policy limit), pricing

Life Insurance: actuarial fundamentals, mortality tables, pricing, premium calculations for life insurance products (term, whole-life, endowment, life annuities), underwriting

Retirement income arrangement: government-administered pension programs, employer-sponsored retirement income plans (defined contribution, defined benefit, combinations)

The topics covered by this course are subject to some adjustments.

This course is part of the University Accreditation Program and meets specific requirements set by the Canadian Institute of Actuaries (CIA). Please consult the CIA website for full details on CIA accreditation.

Grading

  • Assignments 20%
  • Two in-class short quizzes 10%
  • Exam 1 30%
  • Exam 2 40%

NOTES:

All above grading is subject to change

Materials

RECOMMENDED READING:

  • Introduction to Ratemaking and Loss Reserving for Property and Casualty Insurance, 5th by R. Brown and W. S. Lennox, ACTEX Publications
  • Life Insurance by K. Black and H. Skipper, Prentice-Hall
  • Morneau Shepell Handbook of Canadian Pension and Benefit Plans by Morneau Shepell.

Registrar Notes:

ACADEMIC INTEGRITY: YOUR WORK, YOUR SUCCESS

At SFU, you are expected to act honestly and responsibly in all your academic work. Cheating, plagiarism, or any other form of academic dishonesty harms your own learning, undermines the efforts of your classmates who pursue their studies honestly, and goes against the core values of the university.

To learn more about the academic disciplinary process and relevant academic supports, visit: 


RELIGIOUS ACCOMMODATION

Students with a faith background who may need accommodations during the term are encouraged to assess their needs as soon as possible and review the Multifaith religious accommodations website. The page outlines ways they begin working toward an accommodation and ensure solutions can be reached in a timely fashion.