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Minor in Risk Management and Insurance


Minor in Risk Management and Insurance

The financial services industry is one of the most dynamic industries in the world. With the opening of markets, rapid economic development in Asia, deregulation and blurring of borders in financial services and products, the industry faces serious challenges including intensifying competition, increasing exposure to different types of risks and the integration of these risks. These issues affect both industry practitioners and regulators. The increased complexity of the operating environment and a greater focus on risk management has led to an urgent need for trained manpower in the area of Risk Management and Insurance (RMI). 

NBS offers a Minor in Risk Management and Insurance which exposes students to organisational risks, risk aversion as well as insurance. Through this Minor programme, you can expect to gain a comprehensive understanding of insurance coverage, industry issues and risk management techniques, and be equipped with vital risk management tools for application to a wide variety of real-world situations. The minor will cover topics such as enterprise risk management (ERM), property and casualty insurance, catastrophic risk management and financial risk management, which are essential for the continued growth and development of international financial centres.

Few industries can match the diversity of career opportunities that are available to students with knowledge in RMI. Potential employers include:

  • Insurance companies
  • Corporate risk management departments
  • Banks Insurance agencies and brokerages
  • Human resources departments
  • Financial planning offices
  • Consulting organizations
  • Government and regulatory agencies

Our close partnerships with industry professionals, companies and organizations provide a unique level of support for you, including internships and opportunities for networking.

To fulfil the requirements for the Minor in Risk Management and Insurance programme, you will need to complete 15 AUs, to be awarded a minor in RMI.

Prescribed Elective Courses

Students are free to choose any courses from the following:

Course Title
BA2205 Actuarial Computing
BA3204 Actuarial Management
BR2202 Insurance Law and Regulations
BR2203 Econometrics and Applications
BR2204 Introduction to Financial Risk Management
BR2205 Insurance Practice
BR2206 Life Insurance Underwriting and Claims
BR3201 Insurance Mathematics
BR3202 Risk Theory
BR3203 Principles of Enterprise Risk Management
BR3204 Property and Liability Insurance
BR3205 Marine and Aviation Insurance​​​
BR3207 ​​Cyber Risk Management and Insurance
BR3208 Operational Risk Management
​BR3209 ​Computing for Risk Management & Insurance Practices
BU8201 Business Finance

Note: The same course cannot be counted towards satisfying requirements of two programmes, such as a major and a minor, or two minors. The courses are updated from time to time to reflect the needs of the industry, in particular the latest industry trends and skill requirements in Singapore.

Important Notes

  • Students have to read minor courses as Unrestricted Electives and the academic units earned will count towards the students’ academic unit requirements for Unrestricted Electives. A minor course that is NOT read as Unrestricted Electives* (e.g. read as Specialisation Prescribed Electives or GER Prescribed Electives) cannot be counted again towards fulfilling the minor. *Exception for the minors in Art History, Business, Communication Studies, Energy, Environmental Sustainability, Finance, Information - Communication Technology, Philosophy, Risk Management and Insurance

    Students who are admitted in AY2013 and onwards are allowed to count ONE (1) GER Core or GER Prescribed Elective towards the minor requirement IF the said GER Co​re/GER Prescribed Elective is also in the minor's list of courses. The remaining courses must be Unrestricted Electives.
  • A course cannot be counted towards the requirements of two minors (unless otherwise stated).
  • To be awarded a minor, students must not opt for these courses to be graded Satisfactory (S)/Un-Satisfactory (U).
  • NIE students have to consult the NIE Office of Academic Administration and Services (OAAS) if they have intention to pursue a minor.

Special note for Exchange students clearing Minors:

Student on exchange are only allowed to clear up to a maximum of 2 to 3 Business minor courses overseas.

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