BS in Business Administration, General Management Major with Risk Management and Insurance Track
Career Options
- claims management
- underwriting
- sales
- risk management
What is the Risk Management & Insurance track?
The RMI track is a concentration within the General Management major at the University of Southern Maine’s School of Business. As a field, risk management and insurance is all about helping individuals and businesses when bad things can and do happen. The RMI program will provide you with the tools necessary to understand and manage the bad stuff. For example, you’ll learn about managing the financial pounding an individual or business could suffer because of a death or injury, because a building or some other property is damaged or destroyed, or because a lawsuit has been filed.
At the same time, you will have the opportunity to obtain a risk management professional designation before ever leaving college; definitely giving you an advantage over other recent college graduates that may be competing for the same jobs.
What do risk management and insurance careers look like?
Although the insurance industry employs millions in the U.S., the careers that can be found in risk management and insurance still fly under the radars of many students. Those who land jobs in this industry tend to stay for a reason. The industry is relatively more stable than most others and the opportunities within it are thriving as the U.S. population ages, wealth grows, and new risks evolve. That you help individuals and businesses protect themselves against catastrophic losses and help them anticipate the next big risk can make careers in risk management and insurance personally fulfilling. Depending on your specific job, you may be in a position to help clients understand their risks, advise them about the options they have to manage those risks, and help them explore different ways to finance and control the risks.
Looking for more information about our Risk Management and Insurance program? Contact Dr. Dana Kerr, CPCU, ARM at 207.780.4059 or dkerr@usm.maine.edu
Read about Linda Pollock, a current student in our RMI major.
Courses & Requirements
Risk Management and Insurance Track
Students in the general management major (15 credits) select one of five tracks, which either provide broad exposure to management issues or provide a specific industry focus. Each track specifies 9 of the 15 credits in the major, leaving 6 credits for business electives. Students must earn a grade point average of 2.33 or higher in the 15 credits applied toward the major.
The risk management and insurance track prepares students for careers in the insurance industry (including insurance carriers and underwriters, insurance agencies or brokerages, insurance service fields) and its allied fields, such as banking, financial planning, accounting, real estate, stockbrokerage and third party administration. Students learn a blend of theoretical and practical concepts and apply this knowledge to risk management and insurance. The program develops analytical and critical thinking skills that will aid students throughout their careers.
Non-business Core Requirements (17 credits):
Spreadsheet proficiency: demonstrated by passing ABU 190 - Spreadsheets and Problem Solving (3 general elective credits) with a grade of C or higher, or by successfully passing a School of Business spreadsheet proficiency exam.
*Proficiency should be demonstrated before enrolling in 300-level School of Business courses, and must be demonstrated to graduate.
ECO 101 - Introduction to Macroeconomics (3 credits)
ECO 102 - Introduction to Microeconomics (3 credits)
MAT 108 - College Algebra with C- or higher grade (4 credits). Substitutes include a C- or higher grade in MAT 140D or approved higher level math course, passing a CLEP exam, or passing the MAT 108 equivalency exam offered by Academic Assessment.
MAT 210 - Business Statistics with C-or higher grade (4 credits) or C- or higher grade in prior credit for MAT 120D or other approved statistics course.
THE 170 - Public Speaking (3 credits) or other approved course
Business Core Requirements (36 credits):
A minimum of 50% of business core courses must be taken at USM, and the student's grade point average for the business core must be 2.33 or higher.
ACC 110 - Financial Acct. Information for Decision Making
ACC 211 - Managerial Acct. Information for Decision Making
BUS 260 - Marketing
BUS 275 - Applied Business Analysis
BUS 280 - Legal Environment of Business
BUS 340 - Managing Organizational Behavior
BUS 345 - Information Technology/Management Information Systems
BUS 370 - Management Science
BUS 375 - Production/Operations Management
FIN 320 - Basic Financial Management
BUS 450 - Business Policy and Strategy
Select one of the following international courses:
BUS 335 - International Business
BUS 361 - International Marketing
BUS 382 - International Business Law
FIN 330 - International Financial Management
Major Requirements (15 or more credits) At least 50% of credit hours applied to the major must be taken at USM. No more than 3 credits of internship can count toward ths major.
Major Requirements:
RMI 220 – Introduction to Risk Management and Insurance
RMI 330 – Health, Life, and Disability Insurance
RMI 350 – Managing Risk with Property and Liability Insurance
Select 6 credits of 300-level or higher ACC, BUS, ECO (310 only) FIN, or RMI courses, including
RMI 395 – Internship in Insurance
General Electives:
23 credits for accounting majors, 27 credits for other majors
BUS 101: Getting Down to Business (3 credits) Optional first-year seminar, credits counted as general electives; strongly recommended for recent high school graduates with fewer than 24 credits.
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