Insurance Market 2600-DSFRdz/w3zifRU
As an introduction, the history of insurance will be presented, including the key developments in the world and in Poland (from ancient times to the XXI century).
As regards insurance regulations, both EU and Polish legal acts will be outlined (the process of harmonization of Community law, the single insurance market in the EU, key EU directives, key Polish acts and regulations, etc).
As to supervision of the insurance market in Poland, first of all, the Polish Financial Supervision Authority (KNF) will be presented (organization, tasks, operational framework, etc.). In addition, other public institutions will be presented, such as the Insurance Guarantee Fund, the Financial Ombudsman, the Polish Insurance Chamber, and the Polish Motor Insurers’ Bureau.
Next, characteristics and structure of the Polish insurance market will be discussed, including the main forms of insurance activity, classification of insurance products (sections I and II), entities operating on the Polish market, insurance intermediaries (agents and brokers), etc.
The discussion on insurance products offered on the market will focus on personal insurance (life insurance, insurance with capital funds, etc.) and property insurance (real estate insurance, motor insurance, travel insurance, business insurance, agricultural insurance, etc.).
In terms of social insurance, the course will focus on pension, disability, accident and sickness insurance. In addition, health insurance (compulsory and voluntary) will also be discussed. Also, some key public institutions will be presented, in particular the Social Insurance Institution (ZUS) and the Social Insurance Fund.
Selected issues related to the financial management of insurance companies will include: the balance sheet of an insurance company, technical and insurance reserves, investment policy of insurance companies, etc.
The financial performance of the Polish insurance sector will also be outlined, e.g. revenues and costs (premiums/compensations), financial and technical results, assets and liabilities, etc. (based on the publications of the Central Statistical Office and the Polish Financial Supervision Authority).
Finally, the issues of reinsurance and coinsurance will be outlined, i.e. methods of transferring and sharing risk in the insurance market.
Type of course
Mode
Learning outcomes
Students after completing the course:
In terms of knowledge:
• know and understand the terminology and basic theoretical models in the financial system of the economy (K_W01)
• know and understand at an advanced level the principles, procedures and practices relating to entities and the financial system of the economy (K_W02)
• know and understand at an advanced level economic theories and models regarding the functioning of entities and the financial system of the economy (K_W03)
• know and understand technological, social, political, legal, economic and ecological processes and phenomena and their impact on financial decisions in organizations, the functioning of the organization and the entire economy (K_W05)
In terms of skills:
• are able to use the theory of the financial system of the economy to recognize, diagnose and solve problems related to key functions in the organization (K_U01)
• are able to correctly interpret technological, social, political, legal, economic and ecological processes and phenomena and their impact on the functioning of the organization (K_U02)
• are able to independently and collectively prepare analyses, diagnoses and reports on the functioning of entities and the entire economy and present them communicatively, using IT and communication tools (K_U03)
• are able to plan and organize own and team work (K_U05)
• have the ability to self-educate and improve acquired qualifications (K_U06)
In terms of basics:
• are ready to assess and critically approach situations and phenomena related to the functioning of the organization, sector and the entire economy (K_K01)
• are ready to comply with professional ethical standards (K_K03)
Assessment criteria
Learning outcomes will be assessed both on an ongoing basis during classes (discussionsLearning outcomes will be assessed both on an ongoing basis during classes (discussions and presentations in class, individual and team homework, etc.), as well as after the end of classes (final exam – colloquium). and presentations in class, individual and team homework, etc.), as well as after the end of classes (final exam – colloquium).
Final written exam on the Kampus portal (online colloquium written on-site at the university). Closed single-choice test questions. At least 60% correct answers required. In individual cases, an oral exam is possible. Retake exam in oral form.
Bibliography
Basic literature:
• M. Iwanicz-Drozdowska (ed.), Ubezpieczenia, PWE, Warsaw 2024
• W. Ronka-Chmielowiec (ed.), Ubezpieczenia, C.H. Beck, Warsaw 2016
Additional literature:
• D. Ostrowska, P. Jamróz (ed.), Ubezpieczenia gospodarcze i społeczne w Polsce, CeDeWu, Warsaw 2021
• J. Kuźniar (ed.), Ubezpieczenia społeczne, Wolters Kluwer, Warsaw 2022
• Ubezpieczenia społeczne, C.H. Beck, Warsaw 2024
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: