ACTL5106 Insurance Risk Models

Subject Code

ACTL5106

Study Level

Postgraduate

Commencing Term

Term 3

Total Units of Credit (UOC)

Delivery Mode

Online

School

Risk & Actuarial Studies

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1. Course Details

Summary of Course

This course covers the actuarial mathematics, statistics and models used in non-life insurance actuarial practice. Topics covered include: loss distributions and reinsurance, risk models including compound Poisson; estimation of aggregate claims distribution; probability of ruin; premium rating and credibility; experience rating systems and claims reserving for loss run-off data. Students will apply these techniques with respect to principles of effective general insurance management.

Teaching Times and Locations

Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations.

View course timetable

Course Policies & Support

The Business School expects that you are familiar with the contents of this course outline and the UNSW and Business School learning expectations, rules, policies and support services as listed below:

Program Learning Outcomes
Academic Integrity and Plagiarism
Student Responsibilities and Conduct
Special Consideration
Protocol for Viewing Final Exam Scripts
Student Learning Support Services

Further information is provided in the Assessment and Policies and Support sections.

Students may not circulate or post online any course materials such as handouts, exams, syllabi or similar resources from their courses without the written permission of their instructor.

Course Aims and Relationship to Other Courses

At the end of the course students should be able to:

Model the excess of aggregate premiums over aggregate losses at any point in the future and describe how the model can be used;
Fit a distribution to data;
Incorporate past experience (of a contract or insured) into pricing and reserving.

This course covers the mathematical foundations of non-life insurance risk modelling. The assumed knowledge for this course is a solid foundation in ACTL5101, ACTL5102 and ACTL5103. Depending on their educational background, some students may be allowed to enroll in this course without having completed these courses. We advise you to consult the lecturer if you do not have the required background.

The assumed knowledge of the course is a good understanding of mathematics as covered in a full year undergraduate program in Calculus and Linear Algebra.

Student Learning Outcomes

The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this course, if you participate fully in learning activities and successfully complete the assessment items.

CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are developed across the duration of a program for all students. More information on coursework PLOs is available under Policies and Support. PLOs are, in turn, directly linked to UNSW graduate capabilities and the aspiration to develop “globally focussed graduates who are rigorous scholars, capable of leadership and professional practice in an international community”.

For PG research PLOs please refer to the UNSW HDR Graduate Attributes and LearningOutcomes.

The following table shows how the CLOs for this course relate to the overall PLOs and indicates where each CLO and PLO is assessed:

Course Learning Outcomes	Program Learning Outcomes	Course Assessment Item
On successful completion of the course, you should be able to:	This course helps you to develop the following Program Learning Outcomes:	This learning outcome will be assessed in the following items:
Calculate or approximate the distribution of the sum of losses, when their number is either deterministic or random	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Assignment Final exam
Calculate the value of a reinsurance contract	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Assignment Final exam
Describe the classical model of risk theory for the excess of aggregate premiums over aggregate losses	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Assignment Final exam
Determine, for simple cases, the probability that aggregate losses will exceed aggregate premiums at any point in the future	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Assignment Final exam
Calculate descriptive statistics and identify candidate distributions for fitting a model to data	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Assignment Final exam
Estimate parameters of a given distribution using complete or censored/truncated data	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Assignment Final exam
Evaluate the goodness of fit of a model via a range of metrics	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Assignment Final exam
Understand Generalised Linear Models (GLM) and apply them in simple situations.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Final exam
Determine the pure Bayesian premium of a loss, given its experience, using parametric or non-parametric models	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Final exam
Determine the expected present value of future liabilities arising from claims already incurred	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Formative assessment (quiz, discussion forum) Final exam

2. Staff Contact Details

Position	Title	Name	Email	Location	Phone	Consultation Times
Lecturer-in-charge	AProf	Jonathan Ziveyi		–	93857559	–
Lecturer	Dr	Keith wong		–	–	–

Jonathan Ziveyi is the Lecturer in Charge and will oversee the course administration and lectures. Keith Wong will be responsible for all the lectures in Weeks 1-5 and 7-10, and all the student queries. There is a regular consultation hour every week. Additional consultation hours will be arranged to help students prepare for the final exam. These will be scheduled and announced during the term.

3. Learning and Teaching Activities

Use of your Webcam and Digital Devices: If you enrol in an online class, or the online stream of a hybrid class, teaching and associated activities will be conducted using Teams, Zoom, or similar a technology. Using a webcam is optional, but highly encouraged, as this will facilitate interaction with your peers and instructors. If you are worried about your personal space being observed during a class, we encourage you to blur your background or make use of a virtual background. Please contact the Lecturer-in-Charge if you have any questions or concerns.

Some courses may involve undertaking online exams for which your own computer or digital devices will be required. Monitoring of online examinations will be conducted directly by University staff and is bound by the University's privacy and security requirements. Any data collected will be handled accordance with UNSW policies and standards for data governance. For more information on how the University manages personal information please refer to the UNSW Student Privacy Statement and the UNSW Privacy Policy.

Approach to Learning and Teaching in the Course

Students are expected to watch pre-lecture videos prior to the online lecture. The live online lecture will review the main topics and demonstrate how to apply the theories and techniques with examples. They are an opportunity for students to develop an understanding of the main topics covered in the course and the level of knowledge expected.

Tutorials and in-class activities are for students to ask questions on aspects of the course that need further clarification, and to interact with other students in the course. Students need to attempt the tutorial exercises alone first and identify problems that require closer review. Students are strongly encouraged to work in teams as it is an opportunity to learn from other students and to potentially develop team skills.

Learning Activities and Teaching Strategies

Apart from lecture slides, course materials further consist of:

References
Tutorial exercises with solutions
Selected past quizzes and exams

It is expected the students will take a pro-active approach to learning, and students should spend at least ten hours per week studying this course. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment (to extra-curricular activities) has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities. In the past, students have found the amount of content particularly challenging. Don’t allow yourself to fall behind the schedule!

4. Assessment

Formal Requirements

In order to pass this course, you must:

achieve a composite mark of at least 50 out of 100;
meet any additional requirements described in the Assessment Summary section.

You are expected to attempt all assessment requirements in the course.

Assessment Structure

Assessment Task	Weighting	Length	Due Date
Activities on discussion forum	5%	Each student needs to create a post and reply to another student's post.	Weeks 1, 3, 5, 8, 10 (Tentative)
Assignment	20%	N/A	Week 7 (Tentative)
Formative online quiz	5%	Quiz can be completed within an hour but students will be given 3 days to complete it.	Week 9 (Tentative)
Final examination	70%	2 hours	University Examination Period
Total	100%	–	–

Assessment Summary

As a student at UNSW you are expected to display academic integrity in your work and interactions. Where a student breaches the UNSW Student Code with respect to academic integrity, the University may take disciplinary action under the Student Misconduct Procedure. To assure academic integrity, you may be required to demonstrate reasoning, research and the process of constructing work submitted for assessment.

To assist you in understanding what academic integrity means, and how to ensure that you do comply with the UNSW Student Code, it is strongly recommended that you complete the Working with Academic Integrity module before submitting your first assessment task. It is a free, online self-paced Moodle module that should take about one hour to complete.

Activities on discussion forum (5 activities of 1% each)

In each of the 5 weeks where there are such activities, each student needs to (i) create a post in the forum (in response to a topic/question posted by the LIC); and (ii) respond to or comment on one another student's post in the forum. Full credit for the week (that is 1%) will be given to students who have done these two things.

Online quiz (5%)

There is an online quiz (Week 9, TBC) and students are required to complete it via Moodle. This will assess students’ understanding of the concepts covered in the course. The quiz will be approximately 1 hour in length (which consists e.g. MCQ, short/numeric answers, long answers). Students will be given 3 days to complete each quiz at home (or any place with an internet connection) and submit online. Full credit will be given to students who have made a reasonable attempt. Feedback will be provided.

Assignment (20%)

There will be one major (individual) assignment for this course involving the application and interpretation of course concepts. It is based on the application of technical concepts. The assignment offers students the opportunity to engage in critical analysis, self-reflection and problem solving, as well as to demonstrate their understanding of the concepts and perspectives that are central to actuarial studies. The assignment specifically assesses the program learning outcomes “Business knowledge”, “Problem solving”, as well as “Business communication”. Tentatively, the assignment will be due in Week 7 (TBC), and full information about the assignment will be released at least 3 weeks prior to the due date.

Final Examination (70%)

The final examination will assess students understanding of the concepts covered in the course and readings and their ability to apply them to practical problems. A deeper grasp of materials is expected from students at the final exam level than at the tutorial level.

The final exam will take place online and will last for 2 to 3 hours on a date scheduled by the university. This course will have an invigilated exam held on UNSW’s Kensington campus. The exam will be conducted on Inspera, an online assessment platform. It is a mandatory requirement that you attend the exam on-campus (even if you are only attending online classes) and that you come with a fully charged laptop which has the Safe Exam Browser (SEB) installed. If you are an international student and completing this course remotely, the UNSW Exams Team will contact you to arrange an online invigilated exam monitored by UNSW staff, via Zoom. You will need a working camera and microphone on your laptop as you will be required to have your camera on for the entire duration of the exam. Further instructions on how to prepare for this exam will be provided to you during the term.

Students will be notified about the further details of the final exam in due course. (It may be closed book or open book) In any case, students are advised to prepare the final exam assuming that it is a closed book invigilated exam. If the final exam is a closed book, students will only be allowed to use the text "Formulae and Tables for Actuarial Examinations" into the exam. This must be fully UNANNOTATED. Students may bring their own calculators. All calculators must be UNSW approved. The University will not supply calculators to students for use in examinations. It is the student’s responsibility to be familiar with the rules governing the conduct of examinations.

This course may involve undertaking online examinations for which monitoring of the student's own computer equipment or digital devices will be required. Monitoring of online examinations will be conducted directly by the University or by third party providers on behalf of the University, such providers being bound by the University's privacy and security requirements

Any data collected will be handled in accordance with UNSW Data Handling Guidelines https://www.datagovernance.unsw.edu.au/policies-and-standards. For more information on how the University manages personal information please refer to the UNSW Student Privacy Statement https://student.unsw.edu.au/privacy and the UNSW Privacy Policy https://www.gs.unsw.edu.au/policy/privacypolicy.html

Assignment Submission Procedure

Assignment reports must be submitted via the Turnitin submission box that is available on the course website. Turnitin reports on any similarities between their own cohort’s assignments, and also with regard to other sources (such as the internet or all assignments submitted all around the world via Turnitin). Please read this page, as we will assume that its content is familiar to you. You will be able to make multiple submissions and have access to the originality reports.

You need to check your document once it is submitted (check it on-screen). We will not mark assignments that cannot be read on-screen.

Students are reminded of the risk that technical issues may delay or even prevent their submission (such as internet connection and/or computer breakdowns). Students should then consider either submitting their assignment from the university computer rooms or allow enough time (at least 24 hours is recommended) between their submission and the due time. The Turnitin module will not let you submit a late report. No paper copy will be either accepted or graded.

In case of a technical problem, the full document must be submitted to the course coordinator before the due time by e-mail, with explanations about why the student was not able to submit on time. In principle, this assignment will not be marked. It is only in exceptional circumstances where the assignment was submitted before the due time by e-mail that it may be marked—and this only if a valid reason is established.

Students should keep a copy of all work submitted for assessment and keep their returned marked assignments.

Avoid a 0 for your assignment because of plagiarism. Students are reminded that the work they submit must be their own. While we have no problem with students working together on the assignment problems, the material students submit for assessment must be their own. This means that:

The mathematical solutions you present are written up by you, without reference to any other group’s work.
Any programming code you present are from your own computers, which you yourself developed, without any reference to any other group’s work.

Students should make sure they understand what plagiarism is and to note that cases of plagiarism have a very high probability of being discovered. For issues of collective work, having different persons marking the assignment does not decrease this probability. For more information on plagiarism, see the School’s Course Outlines Policies.

Assessment Feedback

Feedback on student performance from formative and summative assessment tasks will be provided to students in a timely manner. Assessment tasks completed within the teaching period of a course, other than a final assessment, will be assessed and students provided with feedback, with or without a provisional result, within 10 working days of submission, under normal circumstances. Feedback on continuous assessment tasks (e.g. laboratory and studio-based, workplace-based, weekly quizzes) will be provided prior to the midpoint of the course.

Special Consideration

You can apply for special consideration when illness or other circumstances beyond your control interfere with your performance in a specific assessment task or tasks, including online exams. Students studying remotely who have exams scheduled between 10pm and 7am local time, are also able to apply for special consideration to sit a supplementary exam at a time outside of these hours.

Special consideration is primarily intended to provide you with an extra opportunity to demonstrate the level of performance of which you are capable. To apply, and for further information, see Special Consideration on the UNSW Current Students page.

Special consideration applications will be assessed centrally by the Case Review Team, who will update the online application with the outcome and add any relevant comments. The change to the status of the application immediately sends an email to the student and to the assessor with the outcome of the application.

Please note the following:

Applications can only be made through Online Services in myUNSW. Applications will not be accepted by teaching staff. The lecturer-in-charge/course coordinator will be automatically notified when your application is processed.
Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession.
If you experience illness or misadventure in the lead up to an exam or assessment, you must submit an application for special consideration, either prior to the examination taking place, or prior to the assessment submission deadline, except where illness or misadventure prevent you from doing so.
If your circumstances stop you from applying before your exam or assessment due date, you must apply within 3 working days of the assessment or the period covered by your supporting documentation.
Under the UNSW Fit To Sit/Submit rule, if you sit the exam/submit an assignment, you are declaring yourself well enough to do so and are cannot subsequently apply for special consideration.
If you become unwell on the day of – or during – an exam, you must stop working on your exam, advise your course coordinator or tutor and provide a medical certificate dated within 24 hours of the exam, with your special consideration application. For online exams, you must contact your course coordinator or tutor immediately via email, Moodle or chat and advise them you are unwell and submit screenshots of your conversation along with your medical certificate and application.
Special consideration requests do not allow the awarding of additional marks to students.

Further information on Business School policy and procedure can be found under “Special Consideration” on the Policies and Support page.

Late Submission Penalties

Late submission will incur a penalty of 5% per day or part thereof (including weekends) from the due date and time. An assessment will not be accepted after 5 days (120 hours) of the original deadline unless special consideration has been approved. An assignment is considered late if the requested format, such as hard copy or electronic copy, has not been submitted on time or where the ‘wrong’ assignment has been submitted.

For assessments which account for 10% or less of the overall course grade, and where answers are immediately discussed or debriefed, the LIC may stipulate a different penalty. Details of such late penalties will be available on the course Moodle page.

Special consideration and assessments other than the Final Exam in undergraduate and postgraduate courses

For courses offered by the School of Risk and Actuarial Studies, the weight of the mid-term exam for which special consideration is granted is re-allocated to the final exam.

Special consideration does not entitle students to a supplementary opportunity to complete the assessment item. For an assignment, oral presentation and any in-session assessment item other than the mid-term exam, an extended deadline, an additional assessment or a re-allocation of the weight to the final exam may be granted.

Late submission of assessment items

When an assessment item had to be submitted by a pre-specified submission date and time and was submitted late, the School of Risk and Actuarial Studies will apply the following policy.

Protocol for Viewing Final Exam Scripts

UNSW students have the right to view their final exam scripts, subject to a small number of very specific exemptions. The UNSW Business School has set a protocol under which students may view their final exam script. Individual schools within the Faculty may also set up a local process for viewing final exam scripts, so it is important that you check with your School. Further school-specific information may be included below.

Quality Assurance

The Business School is actively monitoring student learning and quality of the student experience in all its programs. A random selection of completed assessment tasks may be used for quality assurance, such as to determine the extent to which program learning goals are being achieved. The information is required for accreditation purposes, and aggregated findings will be used to inform changes aimed at improving the quality of Business School programs. All material used for such processes will be treated as confidential.

5. Course Resources

Course references

Note that most references are freely downloadable and/or available from the library.

The main reference book for the course is:

[MW] Wüthrich, Mario (2014), Non-Life Insurance: Mathematics and Statistics. This book is can be downloaded for FREE from SSRN.
Prof. Wüthrich is a professor at ETHZ and makes his book freely available worldwide. He updates his book regularly, so I recommend you check regularly for newer versions, and if you print, that you do so chapter per chapter at the last moment.

Formulae & Tables

For closed-book examinations, the only text students are allowed to bring into the examinations for the actuarial courses is the text "Formulae and Tables for Actuarial Examinations". It must not be annotated. All students in the actuarial courses should purchase a copy of this text if they wish to use it in the examinations. The text is available from the UNSW Bookstore or the UK Institute of Actuaries.

Course website

The course website is available on Moodle or via my.unsw.edu.au.

The course contents will be available from the course website. It is essential that you visit the site regularly to see any notices posted there by the course coordinator, as it will be assumed that they are known to you within a reasonable time.

6. Course Evaluation & Development

Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey, which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality.

Each year feedback is sought from students and other stakeholders about the courses offered in the School and continual improvements are made based on this feedback. UNSW's myExperience survey is one of the ways in which student evaluative feedback is gathered. In this course, we will seek your feedback through the end of semester myExperience responses. Recent development includes the replacement of the summative mid-term exam by formative online quiz, addition of some pre-recorded videos to assist with students' learning, creation of optional "R tutorials" for students to apply programming techniques to theory learnt. In this term, additional activities (as formative assessments) will be created on the discussion forum to engage students and to create a learning community.

7. Course Schedule

Note: for more information on the UNSW academic calendar and key dates including study period, exam, supplementary exam and result release, please visit: https://student.unsw.edu.au/new-calendar-dates

Week	Activity	Topic	Assessment/Other
Week 1: Sep 12, 2022	–	Module 1: Introduction Module 2: Collective Risk Modelling	Activities on discussion forum (Tentative)
Week 2: Sep 19, 2022	–	Module 2: Collective Risk Modelling Module 3: Individual Claim Size Modelling	–
Week 3: Sep 26, 2022	–	Module 3: Individual Claim Size Modelling Module 4: Approximations for Compound Distributions	Activities on discussion forum (Tentative)
Week 4: Oct 3, 2022	–	Module 4: Approximations for Compound Distributions Module 5: Ruin Theory and Premium Calculation Principles	–
Week 5: Oct 10, 2022	–	Module 5: Ruin Theory and Premium Calculation Principles	Activities on discussion forum (Tentative)
Week 6: Oct 17, 2022	Self Study week	Self study week	–
Week 7: Oct 24, 2022	–	Module 6: Bayesian Models and Credibility Theory	Assignment due (Tentative)
Week 8: Oct 31, 2022	–	Module 6: Bayesian Models and Credibility Theory	Activities on discussion forum (Tentative)
Week 9: Nov 7, 2022	–	Module 6: Bayesian Models and Credibility Theory Module 7: Claims Reserving	Formative online quiz (Tentative)
Week 10: Nov 14, 2022	–	Module 7: Claims Reserving Review	Activities on discussion forum (Tentative)

8. Policies and Support

Information about UNSW Business School program learning outcomes, academic integrity, student responsibilities and student support services. For information regarding special consideration, supplementary exams and viewing final exam scripts, please go to the key policies and support page.

Program Learning Outcomes

The Business School places knowledge and capabilities at the core of its curriculum via seven Program Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the duration of all coursework programs in the Business School.

PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each Business School program. They articulate what you should know and be able to do upon successful completion of your degree.

Upon graduation, you should have a high level of specialised business knowledge and capacity for responsible business thinking, underpinned by ethical professional practice. You should be able to harness, manage and communicate business information effectively and work collaboratively with others. You should be an experienced problem-solver and critical thinker, with a global perspective, cultural competence and the potential for innovative leadership.

All UNSW programs and courses are designed to assess the attainment of program and/or course level learning outcomes, as required by the UNSW Assessment Design Procedure. It is important that you become familiar with the Business School PLOs, as they constitute the framework which informs and shapes the components and assessments of the courses within your program of study.

PLO 1: Business knowledge

Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

PLO 2: Problem solving

Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

PLO 3: Business communication

Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

PLO 4: Teamwork

Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

PLO 5: Responsible business practice

Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

PLO 6: Global and cultural competence

Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

PLO 7: Leadership development

Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.

These PLOs relate to undergraduate and postgraduate coursework programs. For PG Research PLOs, including Master of Pre-Doctoral Business Studies, please refer to the UNSW HDR Learning Outcomes

Business School course outlines provide detailed information for students on how the course learning outcomes, learning activities, and assessment/s contribute to the development of Program Learning Outcomes.

UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities, a set of generic abilities and skills that all students are expected to achieve by graduation. These capabilities articulate the University’s institutional values, as well as future employer expectations.

UNSW Graduate Capabilities	Business School PLOs
Scholars capable of independent and collaborative enquiry, rigorous in their analysis, critique and reflection, and able to innovate by applying their knowledge and skills to the solution of novel as well as routine problems.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication PLO 4: Teamwork PLO 7: Leadership development
Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication PLO 4: Teamwork PLO 6: Global and cultural competence PLO 7: Leadership development
Professionals capable of ethical, self-directed practice and independent lifelong learning	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication PLO 5: Responsible business practice
Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication PLO 4: Teamwork PLO 5: Responsible business practice PLO 6: Global and cultural competence

While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also provide you with a great deal of choice and flexibility. The Business School strongly advises you to choose a range of courses that assist your development against the seven PLOs and four graduate capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio as evidence in employment applications as well as a reference for work or further study. For support with selecting your courses contact the UNSW Business School Student Services team.

Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism, academic practices, citations and evidence based learning are all considered basic concepts that successful university students understand. Learning how to communicate original ideas, refer sources, work independently, and report results accurately and honestly are skills that you will be able to carry beyond your studies.

The definition of academic misconduct is broad. It covers practices such as cheating, copying and using another person’s work without appropriate acknowledgement. Incidents of academic misconduct may have serious consequences for students.

Plagiarism

UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct Registers.

Below are examples of plagiarism including self-plagiarism:

Copying: Using the same or very similar words to the original text or idea without acknowledging the source or using quotation marks. This includes copying materials, ideas or concepts from a book, article, report or other written document, presentation, composition, artwork, design, drawing, circuitry, computer program or software, website, internet, other electronic resource, or another person's assignment, without appropriate acknowledgement of authorship.

Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original structure and/or progression of ideas of the original, and information without acknowledgement. This also applies in presentations where someone paraphrases another’s ideas or words without credit and to piecing together quotes and paraphrases into a new whole, without appropriate referencing.

Collusion: Presenting work as independent work when it has been produced in whole or part in collusion with other people. Collusion includes:

Students providing their work to another student before the due date, or for the purpose of them plagiarising at any time
Paying another person to perform an academic task and passing it off as your own
Stealing or acquiring another person’s academic work and copying it
Offering to complete another person’s work or seeking payment for completing academic work

Collusion should not be confused with academic collaboration (i.e., shared contribution towards a group task).

Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary' source from which knowledge of them has been obtained.

Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work and presents it as new findings without referencing the earlier work, either in its entirety or partially. Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a body of work that has already been submitted for assessment without proper citation.

To see if you understand plagiarism, do this short quiz: https://student.unsw.edu.au/plagiarism-quiz

Cheating

The University also regards cheating as a form of academic misconduct. Cheating is knowingly submitting the work of others as their own and includes contract cheating (work produced by an external agent or third party that is submitted under the pretences of being a student’s original piece of work). Cheating is not acceptable at UNSW.

If you need to revise or clarify any terms associated with academic integrity you should explore the 'Working with Academic Integrity' self-paced lessons available at: https://student.unsw.edu.au/aim.

For UNSW policies, penalties, and information to help you avoid plagiarism see: https://student.unsw.edu.au/plagiarism as well as the guidelines in the online ELISE tutorials for all new UNSW students: http://subjectguides.library.unsw.edu.au/elise. For information on student conduct see: https://student.unsw.edu.au/conduct.

For information on how to acknowledge your sources and reference correctly, see: https://student.unsw.edu.au/referencing. If you are unsure what referencing style to use in this course, you should ask the lecturer in charge.

Student Responsibilities and Conduct

Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found on the 'Managing your Program' website.

Workload

It is expected that you will spend at least ten to twelve hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of twenty to twenty four hours. This time should be made up of reading, research, working on exercises and problems, online activities and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

We strongly encourage you to connect with your Moodle course websites in the first week of semester. Local and international research indicates that students who engage early and often with their course website are more likely to pass their course.

View more information on expected workload

Attendance and Engagement

Your regular attendance and active engagement in all scheduled classes and online learning activities is expected in this course. Failure to attend / engage in assessment tasks that are integrated into learning activities (e.g. class discussion, presentations) will be reflected in the marks for these assessable activities. The Business School may refuse final assessment to those students who attend less than 80% of scheduled classes where attendance and participation is required as part of the learning process (e.g. tutorials, flipped classroom sessions, seminars, labs, etc.). If you are not able to regularly attend classes, you should consult the relevant Course Authority.

View more information on attendance

General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class.

View more information on student conduct

Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others.

View more information on Health and Safety

Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.

Student Support and Resources

The University and the Business School provide a wide range of support services and resources for students, including:

Business School Learning Support Tools
Business School provides support a wide range of free resources and services to help students in-class and out-of-class, as well as online. These include:

Academic Communication Essentials – A range of academic communication workshops, modules and resources to assist you in developing your academic communication skills.
Learning consultations – Meet learning consultants who have expertise in business studies, literacy, numeracy and statistics, writing, referencing, and researching at university level.
PASS classes – Study sessions facilitated by students who have previously and successfully completed the course.
Educational Resource Access Scheme – To support the inclusion and success of students from equity groups enrolled at UNSW Sydney in first year undergraduate Business programs.

The Nucleus - Business School Student Services team
The Nucleus Student Services team provides advice and direction on all aspects of enrolment and graduation. Level 2, Main Library, Kensington 02 8936 7005 / https://nucleus.unsw.edu.au/en/contact-us

Business School Equity, Diversity and Inclusion
The Business School Equity, Diversity and Inclusion Committee strives to ensure that every student is empowered to have equal access to education. The Business School provides a vibrant, safe, and equitable environment for education, research, and engagement that embraces diversity and treats all people with dignity and respect. BUSEDI@unsw.edu.au

UNSW Academic Skills
Resources and support – including workshops, individual consultations and a range of online resources – to help you develop and refine your academic skills. See their website for details.
academicskills@unsw.edu.au

Student Support Advisors
Student Support Advisors work with all students to promote the development of skills needed to succeed at university, whilst also providing personal support throughout the process.
John Goodsell Building, Ground Floor.
advisors@unsw.edu.au
02 9385 4734

International Student Support
The International Student Experience Unit (ISEU) is the first point of contact for international students. ISEU staff are always here to help with personalised advice and information about all aspects of university life and life in Australia.
Advisors can support you with your student visa, health and wellbeing, making friends, accommodation and academic performance.
International.student@unsw.edu.au
02 9385 4734

Equitable Learning Services
Equitable Learning Services (formerly Disability Support Services) is a free and confidential service that provides practical support to ensure that your health condition doesn't adversely affect your studies. Register with the service to receive educational adjustments.
Ground Floor, John Goodsell Building.
els@unsw.edu.au
02 9385 4734

UNSW Counselling and Psychological Services
Provides support and services if you need help with your personal life, getting your academic life back on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
counselling@unsw.edu.au
02 9385 5418

Library services and facilities for students
The UNSW Library offers a range of collections, services and facilities both on-campus and online.
Main Library, F21.
02 9065 9444

Moodle eLearning Support
Moodle is the University’s learning management system. You should ensure that you log into Moodle regularly.
externalteltsupport@unsw.edu.au
02 9385 3331

UNSW IT
UNSW IT provides support and services for students such as password access, email services, wireless services and technical support.
UNSW Library Annexe (Ground floor).
02 9385 1333

Support for Studying Online

The Business School and UNSW provide a wide range of tools, support and advice to help students achieve their online learning goals.

The UNSW Guide to Online Study page provides guidance for students on how to make the most of online study.

We recognise that completing quizzes and exams online can be challenging for a number of reasons, including the possibility of technical glitches or lack of reliable internet. We recommend you review the Online Exam Preparation Checklist of things to prepare when sitting an online exam.

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Accreditation

ACTL5106 Insurance Risk Models - 2022

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1. Course Details

Summary of Course

Teaching Times and Locations

Course Policies & Support

Course Aims and Relationship to Other Courses

Student Learning Outcomes

2. Staff Contact Details

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

Learning Activities and Teaching Strategies

4. Assessment

Formal Requirements

Assessment Structure

Assessment Summary

Activities on discussion forum (5 activities of 1% each)

Online quiz (5%)

Final Examination (70%)

Assignment Submission Procedure

Assessment Feedback

Special Consideration

Special consideration and assessments other than the Final Exam in undergraduate and postgraduate courses

Late submission of assessment items

Protocol for Viewing Final Exam Scripts

Quality Assurance

5. Course Resources

Course references

Formulae & Tables

Course website

6. Course Evaluation & Development

7. Course Schedule

8. Policies and Support

UNSW Graduate Capabilities

Plagiarism

Cheating

Workload

Attendance and Engagement

General Conduct and Behaviour

Health and Safety

Keeping Informed

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