Insurance
The insurance major helps students develop analytical and problem-solving skills in life and health risk management, employee benefit programs, social insurance, and personal and commercial property and liability risk management in preparation for careers in the global financial services industry. The term "insurance risk management" refers to the process by which an insurer evaluates the potential for, and the financial impact of, events in the world of the insured that will necessitate payment by the insurer and then allocates the risk of these events to other insurance underwriters in the market. Applying mathematical and statistical modeling is a common practice in risk management; this helps professionals decide how much money to put toward premiums and how much of an investment to "keep" rather than "distribute" certain insurance risks.