Program Overview

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Business: Risk Management and Insurance, BBA

The major in risk management and insurance prepares students to identify, analyze, and manage risks that are inherent in the operation of profit and not-for-profit institutions. Besides professional careers in risk management, the major cultivates skills required for challenging opportunities in organizations that accept these risksprivate and governmental insurers, as well as brokerage/agency and consulting organizations.

The program of study may be structured to aid students seeking professional designations of Chartered Property and Casualty Underwriter (CPCU) and Associate in Risk Management (ARM).

Recognition

Our risk management and insurance undergraduate program is consistently ranked among the leading programs in the U.S. by U.S. News & World Report.

Related Organizations

• Risk Management and Insurance Society
• Co-Curricular Learning Board

How to Get in

Current UWMadison Students

To get in, students must meet the following requirements:

• Application required
• Completion of the following courses:
  • Communication A: ENGL 100, COM ARTS 100, ESL 118, or LSC 100
  • Quantitative Reasoning A: MATH 112, MATH 114, MATH 171, or COMP SCI/L I S 102
  • Economics: ECON 101 or ECON 111
  • Human Behavior: PSYCH 202, SOC/C&E SOC 211, ANTHRO 104, GEN&WS 102, or HDFS 263
• Minimum 3.0 UW-Madison GPA
• Credits required:
  • 24 credits completed/in-progress at UW-Madison for first-year students
  • 12 completed/in-progress at UW-Madison for transfer students
• Pre-Business 101 workshop required during the intended application year
• Pre-Business applicants may apply once within their first four terms (Fall/Spring) at UW-Madison

Prospective First-Year Applicants

All prospective UWMadison students must apply through the central Office of Admissions and Recruitment. Prospective high school students may be considered for direct admission to Business based on their application to the University of Wisconsin-Madison.

Prospective Transfer Applicants

Transfer students at University of Wisconsin System campuses or Wisconsin Technical Colleges may apply separately for admission to both the University of Wisconsin-Madison and the School of Business during the spring term for fall enrollment.

University General Education Requirements

All undergraduate students at the University of Wisconsin-Madison are required to fulfill a minimum set of common university general education requirements to ensure that every graduate acquires the essential core of an undergraduate education. The requirements include:

• BreadthHumanities/Literature/Arts: 6 credits
• BreadthNatural Science: 4 to 6 credits
• BreadthSocial Studies: 3 credits
• Communication Part A & Part B
• Ethnic Studies
• Quantitative Reasoning Part A & Part B

School of Business Requirements

The Wisconsin Bachelor of Business Administration (BBA) program combines UWMadisons general liberal education requirements, broad coverage of core business disciplines, and cutting-edge signature courses to create a strong academic foundation upon which students delve deeply into their majors.

Business: Risk Management & Insurance (R M I) Major Requirements

The risk management and insurance major consists of 15 required credits. R M I 300 should be completed prior to any other R M I coursework, as it is a prerequisite for all other courses. The requirements include:

• R M I 300: Principles of Risk Management (3 credits)
• Complete 2 of the following courses (6 credits):
  • R M I 640: Management of Insurance Enterprise
  • R M I 645: Commercial Insurance
  • R M I 655: Risk Financing Techniques
  • R M I 660: Risk Analytics and Behavioral Science
• Complete 6 additional credits of R M I coursework numbered 600 or above, or 3 additional credits of R M I coursework numbered 600 or above and 3 credits of the following:
  • Any ACT SCI course numbered 600 or above
  • ACCT I S 630: Foundations of Auditing
  • FINANCE 325: Corporation Finance
  • FINANCE 330: Derivative Securities
  • M H R 640: Creative Destruction Lab I
  • M H R 641: Creative Destruction Lab II
  • MARKETNG/OTM 423: Procurement and Supply Management
  • REAL EST 530: Real Estate Investment Analysis

University Degree Requirements

To receive a bachelor's degree from UWMadison, students must earn a minimum of 120 degree credits. The requirements for some programs may exceed 120 degree credits. Students should consult with their college or department advisor for information on specific credit requirements.

Learning Outcomes

The program learning outcomes include:

1. Integrate a holistic risk management process (framework) across all dimensions of an organization, implementing risk management decisions that add value.
2. Use appropriate statistical techniques and data analysis to support risk management decisions.
3. Apply fundamental insurance principles that support economic development through insurance markets.
4. Identify decision-making challenges, and implement strategies to address those challenges, in environments involving risk and uncertainty.
5. Demonstrate strong critical thinking skills as observed through their ability to debate various positions, ask skeptical questions, and probe underlying assumptions.
6. Demonstrate leadership qualities in moving the profession forward.

Four-Year Plan

This is a sample four-year plan for students directly admitted into the School of Business from high school. The plan includes:

• Freshman year: Communications A, MATH 211 or 221, GEN BUS 110, Science, Humanities
• Sophomore year: GEN BUS 360, ECON 102 or 111, ACCT I S 100, M H R 300, R M I 300
• Junior year: R M I 645, 640, 655, or 660, GEN BUS 307, GEN BUS 301, FINANCE/ECON 300
• Senior year: GEN BUS 400, PHILOS 241, 243, 341, or 441, R M I Elective, Science, Elective

Advising and Careers

Advising is an integral part of any students educational journey in the School of Business Undergraduate Program. Business academic advisors have a wealth of knowledge about courses on campus, as well as policies and procedures. Business career coaches help students with career exploration, internships, resumes, job search, interviewing, and more.

Accreditation

The program is accredited by AACSB InternationalThe Association to Advance Collegiate Schools of Business. Accreditation status: Accredited. Next accreditation review: 20262027.