- January 10, 2023
- September 05, 2023
- Any-time Online
- In Class
- Real-time Online
Tuition & Fees
International: CAD $33,119
Estimated Book Costs: CAD $2,750
We are no longer accepting applications for International learners for the January 2023 intake.
The Insurance and Risk Management major focuses on a structured approach to managing uncertainty due to threats that may emerge from the environment, technology, humans, organizations, or politics. Graduates gain the knowledge and skills to reduce these defined risks and to manage the uncertainty to an acceptable level.
To learn more about working in insurance and risk, Watch Video Here
This is a two-year (four term) diploma program. A standard course load is five courses per term. Students can maintain full time status with at least three courses. Taking less than five courses per term will take longer to complete the program.
The Business Administration diploma program consists of core business courses and major specific courses. Core courses are available both in class and online. All major courses are available in class with only some courses available online.
Chartered Insurance Professional (CIP) Designation
Attain the Canadian Risk Management (CRM) designation that demonstrates a level of professional commitment, knowledge, and skills that employers in both public and private sectors recognize. The CRM designation is a widely recognized qualification that provides risk managers a foundation of knowledge and skills needed to identify, assess, monitor, and limit risks.
Co-operative Education Program (Optional)
Bow Valley College will be suspending the Co-op portion of the Business Administration Program. This will be effective for students beginning their studies Fall 2021.
The program will provide other opportunities for students to apply their knowledge and develop skills that will benefit them in the workplace. Information about new opportunities will be shared after you begin your program.
- Credit in English Language Arts 30-1 or minimum 65% in English Language Arts 30-2 or equivalent
- Credit in Math 30-1 or Math 30-2 or equivalent
Successful completion of the General Educational Development (GED) test that consists of five tests with a minimum score in the following sections:
- Interpreting Literature and Art: 520 minimum standard score
- Writing Skills: 520 minimum standard score
- Math Test: 520 minimum score
- Satisfactory results on the Bow Valley College Admissions Test
- Completion of 30 credits from a recognized business program (departmental approval required)
English language proficiency requirements
For applicants whose first language is not English, please review English language proficiency requirements.
Transfer opportunities are available to a variety of institutions. Transfer credits are reviewed and accepted on an individual basis by the institution to which you apply. See our most current transfer agreements here.
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Training Related Employment Rate
Based on 2019-2020 domestic and international students who self-reported finding employment or training-related employment within 6-12 months after graduating.
"Excellent facilities and committed, knowledgeable instructors provided a tremendous learning experience: an ideal blend of theoretical and practical. Within two weeks after completing the exams, I received an employment offer."
Full course outlines are available here.
Curriculum subject to change.
In the business environment, accounting and financial information are essential for internal and external decision-making. Therefore, understanding the basics of accounting and financial statements are important for every business graduate. This course provides an introduction to the fundamental principles and concepts of accounting with an emphasis on decision-makers' objectives and use of financial information. Key concepts explored include accounting principles and standards, the complete accounting cycle, recording and reporting business transactions, and preparing and analyzing financial statements.
Learners are recommended to complete the Business Math Skills Self-Assessment (https://bowvalleycollege.ca/schools/chiu-school-of-business/MSA) prior to taking this course.
Note: Learners with prior credit in ACCT1101 and ACCT1102 cannot take ACCT1103.
The central theme of the course focuses on the relationship between thinking, human behaviour, and organizational effectiveness. Opportunity is provided for learners to experience incidental learning as they evaluate their own behaviour. Learners explore how concepts and ideas pertaining to human behaviour can transform self, relationships, and the workplace.
The focus of this course is on the importance of aligning human resources practices with organizational strategies and employment acts. Learners identify and discuss trends in workplace health and safety. Additionally, the role that the human resources functional processes, practices and programs have in creating an engaged workforce is developed and reflected on.
This course introduces learners to the multifaceted roles of managers within an organization through theory and practical application. While analyzing and critically reflecting on the functions of management, learners have the opportunity to connect key concepts with their own professional practice. Topics such as strategic planning, organizational structure and design, leadership, motivation, controls, and team dynamics are examined.
Introduction to organizations and sustainability articulates a management approach to integrating economic, ethical, and environmental responsibilities into all aspects of organizations working to benefit society. Learners examine ethics of business and constructs of morally appropriate behavior concerning decision-making and businesses' relationship with the community. Concepts and practical approaches are used to discuss and integrate sustainability criteria with business requirements, including performance management and evolving strategies as business needs change.
Confident business communication requires learners to explore the changing landscape of digital media, while developing writing skills and techniques to compose competent, professional communications. In this course, learners explore research tools to aid in effective oral presentations and strengthen interpersonal skills to be an effective communicator in the Canadian workplace.
The allocation of scarce resources in the face of unlimited wants and needs is at the core of economics. This course introduces the fundamentals of microeconomics and creates the foundation for economic analysis and thinking. The course starts with the study of individual choice and opportunity cost, then proceeds to introduce supply and demand and the market adjustments leading to equilibrium, and addresses the use of market price and the sources of market failure. It transitions to consumer behaviour focusing on how consumers make decisions, while creating a framework to understand how firms optimize production under different market structures. The course concludes with the application of microeconomic theory to more advanced topics such as international trade, marginal analysis and the trade-off between equity and efficiency.
Learners are recommended to complete the Business Math Skills Self-Assessment (https://bowvalleycollege.ca/schools/chiu-school-of-business/MSA) prior to taking this course.
A basic understanding of key elements of the law is an essential factor in successful business management. Learners apply legal fundamentals useful in today's fast-paced, rapidly changing business environment.
Learners critically evaluate day-to-day economic subjects in a personal and business context. Throughout the course the economy is examined at the aggregate level with an emphasis on the determination and measurement of national income in the short and long run. The role of households, businesses, government, financial intermediaries and the international sector in influencing national income is examined. Learners analyze business cycles, money and banking, inflation, unemployment, exchange rates, and fiscal and monetary policies.
Learners are introduced to concepts aimed at providing a solid foundation of marketing principles and the role marketing plays in business. Emphasizing a holistic approach, learners have the opportunity to analyze and apply the marketing mix. Key concepts include product, price, placement, and promotion (4Ps), the Integrated Marketing Communications Mix (IMC), market research, and consumer behaviour.
Insurance and Risk Management Major Courses
Risk impacts our daily lives. Through the examination of insurance and risk management, learners explore risk control techniques, laws, concepts, and practices commonly encountered in the insurance industry.
This course is the foundation for all types of property insurance. Explanations of the principles, doctrines, and characteristics are included. The course demonstrates the legislative framework reflected in common commercial and personal lines insurance policies. Learners explore how legislation develops in response to new and changing practical problems.
To understand liability insurance, learners must understand the law and the Canadian legal system as well as the differences between the common law and the Civil Code of Quebec. Learners are introduced to legal principles that affect liability insurance. Insurance against liability examines some of the more common ways people become liable and explains how this liability may or may not be insured.
This course is a study of Canadian automobile insurance, its legislation, policies, and regulations. With an overview of different provincial approaches to automobile insurance, learners examine in detail owner's policies and coverages specific to Alberta and focus on personal coverages.
This course explores the sales process from business concept to post sales follow-up with an emphasis on trust-based relationship selling and developing a loyal customer base. Learners are provided an opportunity to develop key skills to execute on the entire sales cycle.
Pre-requisites: MKTG1101, MGMT1201
Anti-requisites: FNSR2501, MKTG2201 & MKTG2202
This course covers the fundamentals of business strategy theory and application of the frameworks. Learners integrate the knowledge gained in previous business courses and demonstrate how the various pieces of the business puzzle fit together. Learners explore why the different parts of an organization need to be managed in strategic harmony to meet its goals within its competitive environment. A pragmatic approach to developing a strategic analysis skill set is followed. Learners work in multi-disciplinary teams from across the business majors to focus on building long-term strategies for organizations.
Insurance and Risk Management Major ElectivesChoose three of the following courses
Risk management is critical for an organization's operation. The ability to identify, assess, manage, and monitor risks benefits a business's sustainability and continuity in today's evolving society. This course introduces the fundamental principles and concepts of risk management. Learners practice and apply the risk management standards, framework, process, and strategies through the course.
The purpose of this course is to develop an enterprise-wide perspective of risk by applying risk management concepts to four major categories: hazard (insurable), operational, financial, and strategic. This course broadens your understanding of risk management from its traditional focus on accidental losses to include all risks an organization may face. Learn about global risk management standards such as ISO 31000 and the COSO ERM - Integrated Framework, and discuss various risk identification and analysis techniques in detail. Apply rudimentary analytical tools to assess financial risk in areas of financial leverage, liquidity risk, and capital investment risk. Risk oversight, monitoring, and assurance are discussed from the perspective of governance and internal control. This course relies heavily on insurance based content consistent with risk assessment and risk management principles.
This course will assess the methods which an organization can obtain funds to pay for accidental losses. Emphasis is placed on the selection, implementation and monitoring of various risk financing techniques. Specific subjects discussed are: a framework for risk financing; criteria for risk financing selection techniques; insurance as a mechanism for financing property, net income, personnel, and liability losses; accounting and income tax aspects of accidental losses; insurance pricing; selection of insurers and their representatives; implementing risk retention available options, including the use of affiliated insurers; and cost of risk allocation techniques.
In the context of automobile, property, and liability claims, this course focuses on interpersonal skills and knowledge to help learners develop claims-handling techniques. The process of policy analysis for coverage evaluation including investigation, negotiation, and settlement is explored. Learners reflect on managing relationships to gather critical information.
Taking the role of an underwriter, learners analyze individual property, liability, and automobile risks. The course begins with an overview of the underwriter's role as an investor of shareholder capital on behalf of the insurer. Learners examine how the underwriter role has evolved. The course covers an underwriter as a risk assessor and explores the technical and interpersonal skills needed to succeed.
This course provides an overview of insurance business practices from the broker's perspective with a focus on the needs of personal lines clients and small commercial risks. The learner, as an insurance intermediary, is given insight into the skills needed to perform effectively. Following the process of risk from evaluation through to documentation, learners review the major product lines and common policy transactions a broker executes.
This course examines legislative acts and delves into hazards that exist in the workplace while building engagement on the importance of health and safety within the workforce. Various human resources programs are explored, including wellness, disability, return to work, and training. The use of relevant people analytics to assess a workplace's emergency response and readiness are also discussed. At the core of this course are emerging trends in the workplace, including mental health, bullying and remote workforce.
This course prepares learners for employment opportunities by developing marketing tools and skills for interviews.
Prerequisite: Completion of 15 program credits
Learners who secure a Co-op position, will be enrolled in this four-month paid work-term course. The course provides an opportunity for hands-on practice in a variety of positions, depending on the qualifications of the learner and the Business Administration major. Learners, Hosts and career advisors maintain open communication throughout the work-term.
Today's companies seek employees with excellent communication and interpersonal skills. The evolution of the modern workplace, increasing competition, and rising consumer demands has forced employers to seek out motivated candidates with critical thinking and decision-making capabilities who also possess leadership potential.
If you have prior work experience or have taken courses comparable to those required under this program at another institution, you may be eligible for Prior Learning Assessment (PLA) or transfer credit.
All requests must be submitted prior to the start of the program.
The Business Administration Diploma typically takes two years or four terms to complete. This may take longer if the student takes less than five courses per term.
Though optional and not a requirement to graduate, learners are encouraged to apply for Coop Work Experience, as it directly bridges classroom study with the skills needed in the workplace. Co-op offers students relevant experience to boost employment opportunities, develop professional skills and experience, network with employers, and earn money for one term through an assisted job search.
The Co-op Work Term process aligns with the competitive nature of job search. To be accepted into the Co-op Program, applicants must meet all eligibility criteria and follow the application process. Candidates are responsible and demonstrate a high level of professional and program expectations. Not all students accepted into the Co-op Program are guaranteed a Co-op Work Term position.
Applications for Co-op Work Experience are accepted by Career Services. Students can complete a Coop term (4 months, full-time employment) following the successful completion of 30 or more program credits prior to their first Co-op Work Term.
It is important to note that both COOP9998 and prerequisite ADMN9998 are non-credit courses and therefore not covered by student loans; students are encouraged to budget accordingly.
The Alberta Government provides up-to-date information on Alberta’s occupational profiles including wage and salary information. Click on the link to find out more.
Planning your course schedule according to availability and prerequisites requires some consideration.
Once you are a registered student in a program at the Chiu School of Business, our Academic Advising Team can also assist you with planning.
If you are taking an online course, you should make sure your computer has the following applications:
- Reliable internet access – DSL or cable connections are highly recommended.
- We recommend Windows 7 or 10 (preferred) or Mac OS software; Microsoft Office 2013 (minimum); Adobe Acrobat Reader; and a media player such as Adobe Flash Player, QuickTime, or Windows Media Player.
- Some courses might require additional software or applications packages. You will be given this information before starting the course.
- We recommend Mozilla Firefox, Google Chrome, and Safari as browsers. D2L does not work well with Internet Explorer.
The approximate cost of textbooks and other supplies is estimated at $750 per term.