Università degli Studi di Napoli "Parthenope"

Teaching schedule

Academic year: 
2022/2023
Belonging course: 
Course of Master's Degree Programme on MARITIME ECONOMY
Location: 
Napoli
Disciplinary sector: 
FINANCIAL MARKETS AND INSTITUTIONS (SECS-P/11)
Language: 
Italian
Credits: 
9
Year of study: 
1
Teachers: 
Cycle: 
First Semester
Hours of front activity: 
72

Language

Italian

Course description

First 6 ECTS:
Objectives of the course:
The course aims to analyse the financial and insurance risks and risk management tools, addressing solvency assessment issues in the Solvency II environment. The focus is on the relationship between the risks undertaken by the insurance companies and the capital to meet insurance obligations towards policyholders and beneficiaries of insurance or reinsurance contracts. At the end of the course, the student will be able to: recognize the various risk factors, apply the most appropriate management methodology, and identify the impact on capital.
Expected learning outcomes
Knowledge and understanding: the student should be able to understand the issues related to financial and insurance risks. The student should also know the principal methodologies through which it is possible to assess and analyze the risks and their impact on capital.
Applying knowledge and understanding: the student should be able to use the acquired knowledge to address the leading risk management issues. To this end, the teacher will discuss and illustrate some different examples and specific cases of risk management policies during the lessons; for non-attending students, assistance time will be provided.
Making judgments: the student should demonstrate the ability to independently assess the risk management issues and identify the effects on the capital, taking into account the difference between the interests of the policyholders and of the beneficiaries of insurance contracts and the interests of the insurance company's shareholders or mutual insurers’ members.
Communication: the student should be able to use the terminology of risks to discuss the main contents of the written and oral examinations.
Lifelong learning skills: the student should show a good learning ability over the main topics and tools for effective risk management. The student should be able to deepen the actual contents proposed by the teacher through independent analysis of bibliographic references.
Following 3 ECTS:
Objectives of the course:
The course aims to analyse the insurance for the Blue Economy. The first part of the course is related to identifying the risks and characteristics of the Blue Economy. In contrast, the central part of the course is devoted to the study of insurance and the functioning of the so-called Protection & Indemnity clubs (P&I).
In the end, the student can estimate the degree of coverage for the shipping companies.
The learning outcomes of the course can be as follows:
Knowledge and understanding: the student has to show of recognize the risks and identify the most effective risk management technique taking into account the characteristics of the Blue Economy
Applying knowledge and understanding: the student has to show of using the knowledge on risks to the main issues related to the risk in the Blue Economy
Making judgments: the student has to show of estimating the system of risks of the Blue Economy's firms accounting for the impact of the insurance coverage
Communication: the student has to be able to correctly use the terminology on risks to analyse the answers of the written test and the oral test
Lifelong learning skills: the student must be able to identify the main risks and instruments for their management. Furthermore, the student has to deepen the contents of the course through the independent analysis of further bibliographical references.

Prerequisites

First 6 ECTS:
Basic knowledge of the economics of financial intermediaries and corporate finance is necessary. The teacher provides integration for students from different first-level degree programs, including a relevant bibliographic reference.
Following 3 ECTS:
Students must know the principles of management of financial risk and insurance risk.

Syllabus

The contents can be divided into modules.
First 6 ECTS:
I module – The risks (12 h)
The risks. The non-life business and the life business.
II module – Insurance risks (12 h)
Insurance activity (risk-taking, risk management, and risk settlement). The insurance risk and its sub-risks, operational risk.
III module – Financial risks (12 h)
The credit risk and the reinsurance. Investment activity (asset and liability management). Market risk and its components.
IV module – The capital (12 h)
The role of capital and the solvency assessment. Solvency II.
Following 3 ECTS:
V module – The shipping companies (8 h)
The characteristics of the maritime sector (the main characteristics of the ships, the freight market, derivatives, ..)
VI module – The maritime insurance coverage (16 h)
The Hull and Machinery coverage and the role of Protection and Indemnity clubs and of the International Group.

Teaching Methods

First 6 ECTS:
The course includes frontal lessons during which the contents of the program will be discussed and presented some examples of financial and insurance risk management. The teaching material will be downloadable from the Moodle platform. In addition to the presentations used during the lessons, it will be possible to find additional material for thematic insights.
Following 3 ECTS:
The course consists of a set of frontal lessons during which the professor will discuss the contents of the study and show some examples of the P&I club. The material (presentations and further references) can be downloaded by the Moodle platform.

Textbooks

- Porzio C., Previati D., Cocozza R., Miani S., Pisani R. (2011) Economia delle imprese assicurative, McGraw-Hill, Milano (selezione di capitoli).
- Starita M. G., Malafronte I. (2014) Capital Requirements, Disclosure, and Supervision in the European Insurance Industry. New Challenges towards Solvency II, Palgrave Macmillan, Basingstoke.
- The teacher provides other material.

Learning assessment

First 6 ECTS:
The assessment is based on a written examination and an oral examination.
The written examination consists of five open questions (with a maximum score of 5 points for each answer) and one exercise (with a top score of 5 points).
The vote of the oral examination is expressed on a scale from 0 to 30, averaged with the vote of the written examination (equal weighting) to determine the final vote.
Following 3 ECTS:
The examination consists of a written test and an oral test. The written test consists of five questions with open answers (the maximum score is 5 points for each question) and an exercise (the top score is 5 points). The judgment of the oral test is expressed in thirtieths. The final score is the average (with the same weight) of the written test and the oral examination.

More information

Mutuazioni