University of Texas at Austin

Center for Risk Management and Insurance

Center for Risk Management and Insurance

Center for Risk Management and Insurance

McCombs School of Business McCombs School of Business

Center for Risk Management and Insurance

Mission Statement

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. The mission of the center is to be the premier independent research resource for public policy decision makers within the state of Texas for issues related to risk, its analysis and management. The Center provides independent unbiased analysis of public policy issues related to insurance and risk, as well as rigorous examination of issues involving risk, uncertainty and insurance.


A key 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. The 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 in the world. Dr. Patrick L. Brockett, the Center Director, is the immediate past editor of JRI.



Research Topics

Research Topics

  • 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 and Degree Information

Course and Degree Information

Undergraduate
RM 357E - Intro to Risk Management (Arnold)
RM 377 - Property Liability Risk Management (Brockett)
RM 369K - Managing Employee Risk and Benefits (Arnold)

Graduate
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

In order to fulfill the academic requirements, students must take the following:
MKT 282 - Analysis of Markets
STA 287 - Business Analytics and Decision Modeling

Any four (4) courses chosen from the list below:
MIS 382N.9 - Data Mining for Business Intelligence (spring of 1st or 2nd year - preferably first year)
MIS 382N.12 - Social Media Analytics (spring of 2nd yr)
OM 382 - Pricing and Revenue Optimization (fall of 2nd year)
OM 386 - Supply Chain Management (spring of 2nd year)
MIS 383N - Decision support modeling (spring of 2nd year - either STA 287 or MIS383N)
MKT 382 - Marketing Information and Analysis (fall of 2nd year)
MKT 382 - Marketing Decision Making in the Information Age (spring of 1st or 2nd year)
MKT 382.18 - Marketing Metrics (spring of 2nd year)
RM 395.7 - Managing International Risk

Recommended Electives:
FIN 397.1 - Investment Theory and Practice
FIN 394.1 - Advanced topics in Corporate finance

Faculty Contact: Prabhudev Konana

Financial Aid and Scholarships

Financial Aid and Scholarships

Apply for Financial Aid

Major Gifts and Program Partners

Vestal Lemmon Endowed Presidential Scholarship 
Sponsor: National Association of Independent Insurers
Semesters Awarded: Fall and Spring
Amount of Scholarship: $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 Full-Time Student)
GPA: 3.0

National Association of Professional Surplus Lines Offices Ltd. Scholarship (NAPSLO) 
Semesters Awarded: Varies
Amount of Scholarship: $250 and up
Amount Awarded: Varies
Requirements: Business Major with RM Concentration and/or completed 2 RM courses (must be Full-Time Student)
GPA: 2.5

Central Texas Chapter of CPCU (Chartered Property and Casualty Underwriters Society) 
Semesters Awarded: Fall and Spring
Amount of Scholarship: $500-1,000
No. of Scholarships: 5
Requirements: Student must be junior/senior studying Insurance at the University of Texas. Employed at least part-time during the academic year and between semesters.
GPA: 3.0

Houston Marine Insurance Seminars Inc. Scholarship 
Semesters Awarded: Fall and Spring
Amount of Scholarship: $2,000
Requirements: Must be studying Insurance at the University of Texas.

The Insurance Council of Texas (ICT) Scholarship 
Semester Awarded: Fall
Amount of Scholarship: $2,000
Requirements: Must be intending to continue studying Insurance and Risk Management.

Austin Chapter of Risk Management and Insurance Society (RIMS) Scholarship 
Semester Awarded: Fall
Amount of Scholarship: $2,000
Requirements: Business Major with RM Concentration and/or completed 2 RM courses (must be Full-Time Student)
GPA: 3.0

Texas Department of Insurance Honors Program (internship) 
Summer internship compensation 
Requirements: see Pat Arnold or Pat Brockett for further information.
Competitive
Internship Location: Austin

Contact

Mailing:
Center for Risk Management and Insurance
2110 Speedway Stop B6000
Austin, TX 78712

Phone: 512-475-6728
Email: brockett@mail.utexas.edu