Center for Risk Management & Insurance
Unbiased Analysis of Public Policy Issues
The Center for Risk Management and Insurance conducts and disseminates research relevant to the operational concerns and public policy implications of risk analysis and risk management.
Independent Research for Decision-Makers
The Center is the premier independent research resource for public policy decision-makers within the state of Texas for issues related to risk, analysis, and management. We provide independent unbiased analysis of public policy issues related to insurance and risk, as well as a rigorous examination of issues involving risk, uncertainty, and insurance.
Peer-Reviewed Insights
A vital part of the Center’s mission is the distribution of research in peer-reviewed academic journals. Furthering this goal is the sponsorship and editing of The Journal of Risk and Insurance within CRMI. This highly ranked journal is the flagship publication of the American Risk and Insurance Association and is the premier academic journal in risk management and insurance research globally. Dr. Patrick L. Brockett, the Center Director, is the immediate past editor of JRI. Some of our research topics include:
- Analysis and public policy implications of credit scoring in insurance
- Environmental risks and their handling
- Management of risks in the private and public sectors
- Social, ethical and financial implications of genetic testing for risk and insurance underwriting
- Insurance finance, demand for insurance, moral hazard, and adverse selection problems in insurance
- Issues in insurance regulation
- Actuarial and statistical methodology
- Efficiency of insurance organizations
- Regulatory issues in automobile insurance
- Other topics in risk, insurance, and risk management
Course & Degree Info
Undergraduate Courses
- RM 357 E: Intro to Risk Management (Arnold)
- RM 377: Property Liability Risk Management (Brockett)
- RM 369K: Managing Employee Risk and Benefits (Arnold)
Graduate Courses
- RM 391: Mathematics in Finance (Tompaidis)
- RM 392: Financial Modeling and Optimization (Lasdon)
- RM 395.7: Managing International Risk (Brockett)
Risk Management Concentration Curriculum Requirements
Students must take the following courses in order to fulfill academic requirements:
- MKT 282: Analysis of Markets
- STA 287: Business Analytics and Decision Making
Choose any four (4) of the following courses:
- MIS 382N.9: Data Mining for Business Intelligence
- MIS 382N.12: Social Media Analytics
- OM 382: Pricing and Revenue Optimization
- OM 386: Supply Chain Management
- MIS 383N: Decision Support Modeling
- MKT 382: Marketing Information and Analysis or
- MKT 382: Marketing Decision Making in the Information Age
- MKT 382.18: Marketing Metrics
- RM 395.7: Managing International Risk
Recommended electives:
- FIN 397.1: Investment Theory and Practice
- FIN 394.1: Advanced Topics in Corporate Finance
Financial Aid & Scholarships
Vestal Lemmon Endowed Presidential Scholarship
Sponsor: National Association of Independent Insurers
Semesters awarded: Fall and Spring
Scholarship amount: $2,000 to one student per academic year ($1,000 per semester)
Requirements:
- Senior undergraduate Business Major with RM Concentration or MBA student
- Must be a full-time student
- 3.0 GPA (minimum)
National Association of Professional Surplus Lines Offices Ltd. Scholarship (NAPSLO)
Semesters awarded: Varies
Scholarship amount: $250 and up
Requirements:
- Business Major with RM Concentration and/or
- Must have completed two RM courses
- Must be a full-time student
- 2.5 GPA (minimum)
Central Texas Chapter of Chartered Property and Casualty Underwriters Society (CPCU)
Semesters awarded: Fall and Spring
Scholarship amount: $500-$1,000
Number awarded: 5
Requirements:
- Must be a Junior or Senior studying Insurance at the University of Texas.
- Must be employed at least part-time during the academic year and between semesters.
- 3.0 GPA (minimum)
Houston Marine Insurance Seminars Inc. Scholarship
Semesters awarded: Fall and Spring
Scholarship amount: $2,000
Requirement: Must be studying Insurance at the University of Texas
The Insurance Council of Texas (ICT) Scholarship
Semester awarded: Fall
Scholarship amount: $2,000
Requirement: Must intend to continue studying Insurance and Risk Management
Austin Chapter of Risk Management and Insurance Society (RIMS) Scholarship
Semester awarded: Fall
Scholarship amount: $2,000
Requirements:
- Business Major with RM Concentration and/or
- Must have completed two RM courses
- Must be a full-time student
- 3.0 GPA (minimum)
Texas Department of Insurance Honors Program (internship)
Summer internship compensation
Location: Austin, TX
Contact Pat Arnold or Pat Brockett for more information.
Contact the Center Director to get involved in our programs.