The aim of the unit is to provide students with knowledge of insurance and how it can be used to manage risk plans for individuals and small firms. It contextualises this theoretical knowledge within complex problems to develop and evidence students technical, creative and conceptual skills in their devise of innovative responses to industry based challenges.

Unit details

Study level:
Credit points:
Unit code:

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Define and explain some of the basic terms of insurance;  
  2. Justify the nature of insurance as a risk management device and collaboratively argue the need for insurance by individuals and corporations;  
  3. Describe and explain the functions and critique the operations of insurers and debate the current issues facing the industry;  
  4. Scrutinise and assess the special features of an insurance contract with initiative and judgement;  
  5. Argue the need for regulating the insurance industry including aspects of the regulatory environment of the industry and critique the role of representatives (Agents and brokers) and some of the taxation issues raised through the regulatory system; and  
  6. Review and assess general insurance and life insurance products available in the market.  


Melbourne campuses

Students studying under the VU Block Model.

Assessment type Description Grade
Test Online MC Quiz 15%
Presentation Group Presentation 15%
Case Study Group Case Study 30%
Test In-class Test 40%

Other locations

Assessment type Description Grade
Test Multiple Choice Quiz 15%
Presentation Group Presentation 15%
Case Study Group Case Study 30%
Examination Final Examination 40%

Where to next?

VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.