Information Package
baskent.edu.tr

Program of Insurance and Risk Management

TBF431

INSURANCE IN EUROPEAN UNION

Course Code
TBF431
Semester
-
Theory+Practice
3 + 0
ECTS
5
Course TypeElective Course
Course LevelBachelor's Degree
Year of Study-
Semester-
ECTS5
Name of Lecturer(s) -
Learning Outcomes

At the end of this course, the students;

  1. Gain general knowledge about EU institutions and describe their functions.
  2. Explain and analyze the decision-making process in the EU.
  3. Understand the operational functioning of the individual insurance and reinsurance market and the single passport concept within the European Community.
  4. Examine and evaluate mathematical reserves, capital adequacy, market entry conditions, and liquidity requirements under the European Community life insurance directives.
  5. Analyze technical reserves, capital adequacy, market entry conditions, and liquidity within the framework of the European Community non-life insurance directives.
  6. Learn the details of motor insurance, taxation, supervision, and reinsurance operations as outlined in European Community directives.
  7. Measure and analyze the capital adequacy of insurance companies within the Solvency II framework.
  8. Develop solutions to risk management issues related to cross-border transactions and country groups.
Mode of DeliveryFace to face
PrerequisitesNo
Recommended Optional Programme ComponentsNone
Course DescriptionThis course explores key topics including the European Union and its institutions, sources of EU law, the EU membership process, and the EU single insurance market. The course delves into life and non-life insurance within the EU, distribution channels in the EU insurance market, motor vehicle liability insurance, taxation and regulation of the EU insurance sector, capital adequacy requirements (Solvency II), and the European single reinsurance market.
Course Contents
WEEK TOPICS
1st Week EU institutions and legal foundations
2nd Week EU institutions and legal foundations
3rd Week EU single insurance and reinsurance market
4th Week EU single insurance and reinsurance market
5th Week Life/non-life insurance in the EU
6th Week Life/non-life insurance in the EU
7th Week Regulation of insurance intermediaries in the EU
8th Week Midterm exam
9th Week Regulation of motor vehicle insurance in the EU
10th Week Supervision of the EU insurance sector
11th Week Taxation in the EU insurance sector
12th Week Solvency II
13th Week Sectoral indicators
14th Week General review
Recommended or Required ReadingÖzşar, B. (2005). Avrupa Birliği sigorta müktesebat rehberi (TSRŞB Publication No: 3). İstanbul.

EU directives on insurance and reinsurance.

Oksay, S., & Acar, O. (2007). Avrupa Birliği ve Türk sigorta sektöründe denetim (TSRŞB Publication No: 9). İstanbul.

Özşar Kumcu, B. (2009). Avrupa Birliği tek reasürans piyasası ve Türkiye'nin uyumu (TSEV Publication No: 16). İstanbul.

TSRŞB. (2005). AB'nin vergilendirme yapısı ve sigorta sektörü. İstanbul.
Planned Learning Activities and Teaching Methods
  • Lecture
  • Questions/Answers
  • Case Study
Assessment Methods and Criteria
Quantity Percentage (%)
Mid-term 1 40
Total(%) 40
Contribution of In-term Studies to Overall Grade(%) 40
Contribution of Final Examination to Overall Grade(%) 60
Total(%) 100
ECTS Allocated Based on Student Workload
Activities Quantity Duration (Hour) Total Workload (Hour)
Midterm exam 1 1 1
Preparation for Quiz
Individual or group work 14 3 42
Preparation for Final exam 1 40 40
Course hours 13 3 39
Preparation for Midterm exam 1 20 20
Laboratory (including preparation)
Final exam 1 1 1
Homework
Total Work Load143
Total Work Load / 30 (h)4.76
ECTS Credit of the Course5
Language of InstructionTurkish
Work Placement(s)No

Programme Qualifications / Learning Outcomes

LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8
K1 X X X X X X X X
K2 X
K3 X
K4 X X X X X X
K5 X X X X X X
K6 X X X X X X
K7 X
K8 X X X X
K9 X X X X
K10 X X X
K11 X
K12 X X X X X X