Jun 16, 2024  
Butler University Bulletin 2023-2024 
  
Butler University Bulletin 2023-2024

Risk and Insurance, MS


The Master of Science in Risk and Insurance (MSRI) is a professional degree offered primarily to early- and mid-career professionals seeking to advance their career in the field of risk and insurance.

Requirements for Graduation

The program is a 24-month, cohort-based, online program with two required in-residence portions, one at the beginning of the program and one at the end of the program.

The program requires 30 graduate credit hours. . Students are required to attend two in-residence programs. The first one will take place over four days in Indianapolis and the second will take place at the end of the program. Students are required to achieve a 3.0 GPA to graduate from the program.

MSRI Student Learning Outcomes

The faculty of the LSB have identified the following student learning outcomes for students completing the MSRI curriculum. They address what students should know, be able to do, and value.

  • Apply specialized topics exclusive to risk and insurance to business risk situations, including property and casualty, health and life insurance and insurance linked securities
  • Assess risk and formulate appropriate approaches to minimize and mitigate the cost of risk
  • Use current and emerging tools to analyze and recommend alternative risk financing methods
  • Develop and demonstrate risk management and insurance solutions using advanced data analytics methods and communication strategies
  • Demonstrate managerial capabilities by applying financial management, team management, and leadership skills
  • Apply professional and ethical decision-making standards

Curriculum


The MSRI curriculum includes:

  • The graduate core (24 required credit hours) offers an integrated framework on contemporary risk and insurance practices
  • Two electives (6 credit hours) allow students to select between electives focused on law and contracts, enterprise risk management or insurance company operations. Until these courses are developed for permanent delivery, they will be offered as Special Topics courses.

Elective Courses (6 hours)


Each MSRI elective is 3-credit hours. Electives will include topics such as International Risk Management, Business Valuation, Employee Benefits, Derivatives, Insurance Company Operations, Insurance Law and Contract Analysis, Health Care Economics and Regulation, and Enterprise Risk Management.

Program Primers


Incoming MSRI students who do not have an undergraduate degree in business are strongly encouraged to complete the three MSRI primer courses in Canvas prior to starting the equivalent MSRI coursework. These courses will provide students with a non-business background the baseline knowledge to be successful in the Butler MSRI program. Although completion of these courses is not mandatory, you are unlikely to be successful in the program without this knowledge. MSRI faculty expect incoming students to possess the baseline knowledge outlined in the courses and will not review this information in their classes.

The program primers include:

Finance*
Accounting*
Statistics

In addition to the above three primer courses, incoming MSRI students that do not possess a risk and insurance background are strongly encouraged to complete the CPCU500 Foundations in Risk Management and Insurance course through The Institutes. As mentioned above, although completion of this course is not mandatory, you are unlikely to be successful in the program without this knowledge. MSRI faculty expect incoming students to possess the baseline knowledge outlined in the CPCU500 course and will not review this information in their classes.

Risk and Insurance**

*Successful completion of CPCU540 Finance and Accounting for Insurance Professionals offered through The Institutes will satisfy these prerequisite courses.

**Successful completion of CPCU 500 Foundations of Risk Management and Insurance offered through The Institutes satisfies this prerequisite course. The following designations can also be used for this course waiver: Chartered Property and Casualty Underwriter (CPCU); Certified Insurance Counselors (CIC); Certified Financial Planner Certificate (CFP®); Fellow, Life Management Institute (FLMI); Chartered Life Underwriter (CLU); Chartered Financial Consultant (ChFC); Associate of the Society of Actuaries (ASA); Associate in Captive Insurance (ACI); Fellow of the Society of Actuaries (FSA); Associateship in the Casualty Actuarial Society (ACAS); Fellowship in the Casualty Actuarial Society (FCAS); Certified Employee Benefit Specialist (CEBS); Certified Employee Benefit Specialist Fellow (CEBS Fellow); Commercial Lines Coverage Specialist (CLCS); and Associate in Risk Management (ARM).