718 Insurance and Risk Management in Public Sector

718 Insurance and Risk Management in Public Sector

  • Study programme and level: University degree programme Administration 1nd Cycle
  • 2nd or 3th year
  • 6 ECTS
  • Course type: Elective
  • Lectures: 15
  • Individual work: 165
  • Lecturer: Primož Pevcin, PhD


1. Objectives and competences


  • demonstrates risks facing the public sector
  • uses techniques of risk evalvation and analysis with the purpose of risk examination
  • solves organisational problem related to the reduction of existing risks, in particular with developing sufficient organisational strategies
  • shows problems associated with catastrophies
  • constructs the plan for successful solving of the crisis situation.


  • to understand management in private and public sector, in particular risk and crisis management issues,
  • to critically evaluate data for the purpose of risk identificantion, evaluation and quantitative analysis of risks in particular organisation,
  • to place in context the preposotions for solving organisational problems associated with observable risks,
  • to generalise problems in practice of business studies, in particular in the subfield of risk and crisis management,
  • to develop objectively research or discussion paper based on the methodology of case study analysis, where certain (contemporary) issue on insurance or risk management topic is analysed.

2. Content

  • Definition of risk management and insurance
  • Functions of risk management and insurance
  • Social costs and benefits of risk management and insurance
  • Risk management and social welfare
  • Risk identification and evaluation techniques
  • Quantitative analysis of risks
  • Risk reduction and risk financing
  • Differences in risk management between public and private sector
  • Crisis management
  • Public sector and conflict issues management
  • Corruption, values and risks related to public sector functioning
  • Analysis of possible contemporary social problems and issues that increase and inflate risks (climate change, natural disasters, terrorism etc.)

3. Readings

  • DRENNAN, L., MCCONNELL, A. (2007). Risk and Crisis Management in Public Sector. Routledge. 272 str.
  • REJDA, George E. (2007). Principles of Risk Management and Insurance. 10. izdaja. Addison-Wesley, Boston. str. 1-149.

4. Intended learning outcomes

Student is able to demonstrate the issues related to risk reduction and crisis situation prevention in organisations of the public sector, and understands the basic functions and socio-economic importance of risk management and insurance in modern societies at the end of a period of learning.

5. Learning and teaching methods

  • Lecture
  • Practical work
  • Seminar paper
  • Group presentation
  • Case study
  • Project work
  • Individual tutorial

6. Assessment

  • Seminar work (50%)
  • Written and/or oral exam (50%)