Excerpt from course description

Introduction to Insurance


This course is the basis of the insurance education at BI. It gives an overview of the structure and organization of the Norwegian insurance industry and its importance for the individual and for the society as a whole. Basic introduction to life and general insurance, history and development of the industry, Insurance law, insurance accounting and the associations within the insurance and financial industry.

Course content


  • The main principles for insurance
  • History of the insurance industry
  • Public supervision and regulation

Sources of law

  • Public law regulating the Insurance Industry
  • Contract Law
  • Law of damages
  • Insurance Law - The central rules of the Insurance Contracts Act 1989 concerning Life Insurance and General Insurance
  • Regulations of Insurance intermediaries
  • EU/EEA

Risk Management

  • Risk Identification
  • Risk Evaluation
  • Risk Control
  • Risk Funding

Non-life insurance

  • Terms – persons covered by the insurance, limitations, damages covered, calculation of compensation
  • How to calculate the sum insured – terms: first loss or fully insured
  • Main features in the terms for household, holiday cottage, motor, travel, liability and marine insurance
  • Reinsurance

Life insurance

  • National Insurance (“Folketrygden”) – main features
  • Main features of the most common life insurance products: whole life insurance, Unit Linked products, life annuity, pension, accident and group insurance
  • Life insurance technique – premium calculation, risk assessment
  • Life insurance law and The Inheritance Act
  • Financial services and asset management

Credit insurance

Insurance broking

Insurance Economics

  • Accounting Act
  • Profit and loss account
  • Balance
  • Re Insurance

Insurance and Norwegian consumer law and regulations

  • The consumer’s right according to the Insurance Contracts Act
  • The Norwegian Bureau for Insurance Disputes
  • Insurance Complaints Board (ICB)

Cooperation in the insurance and the financial services industry

  • Finance Norway (FNO)
  • Accident and crime prevention
  • How insurance companies are organized – mutual and public companies, life, non-life an credit insurance companies



This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.