For many years, introductory insurance textbooks presented insurance as a subject based in contracts. Slowly, the course has moved toward a consumer orientation, providing students with a broad, descriptive survey of the insurance field, covering topics such as legal aspects, life and health, and property and liability. Over the past 10 years, textbooks began to promote, and to a limited degree, incorporate a stronger business risk management component while maintaining a consumer orientation. Harrington/Niehaus' Risk Management and Insurance 2e is written to take the next step offering the essential aspects of insurance contracts and the insurance industry while providing a substantially more conceptual analysis and attention to business risk management and public policy issues that exists in current texts.
A Book Guaranteed to Promote Risk Management Aversion
By Ahmet Celebiler - April 7, 2010
Two distinguished academician have spent an incredible amount of time and energy and thought to prepare and publish a book to replace all books on the subject. Unfortunately their failure resulted in a nightmare for students who are forced to read this book and base their ideas, values and knowledge of risk management and insurance on this book.
If I had had the misfortune of having this book as a text in a class, I would never have chosen my profession in risk management and insurance. If I had to use this book as the text of my course, I would refuse to teach risk management and Insurance in Undergraduate or Graduate classes.
The authors achieve partial success only in relation to the first of their four major objectives. The book is a detriment to good decision making in real conditions, definitely does not enhance the ability of the reader to think critically and analytically, and is totally useless in explaining how insurance markets perform... read more
For practitioners is superficial...
By Alejandro Carranza M "Carra" - February 3, 2013
It's not deep regarding models and other tools. If you are looking for technical tools, this is not the best option.
By rmistudent - December 13, 2012
I had this text book in one of my undergraduate risk management courses and it is god awful. Does a terrible job of explaining what I always perceived as seemingly simple concepts such as coinsurance and adverse selection.
Quantitative examples are half explained and followed up with poor interpretations accompanied by confusing diagrams. I have no doubt the authors posses a a great deal of knowledge on the subject but the quality of writing and explanation leaves much to be desired.
I would avoid this text at all costs, if you have that option purchase a comparable AICPUCU text if there is such one. If you are looking for something that address a broad array of basic risk management & insurance concepts purchase Fundamentals of Risk and Insurance by Emmett J. Vaughn. It is a fantastic textbook with very topical real-life examples.
The Study Guide helps students analyze and internalize the topics learned in class. Every chapter includes an overview, learning objectives, outline, and extensive self-test questions with answers. ...
This proven, market-leading text provides a thorough, current introduction to risk management and insurance. It assists the learner in identifying, analyzing, and managing risk through insurance and ...