Search Course Catalog

Clear Filters
Search For
6 school districts have courses available only to their students.
School Year
Time of Year
Clear Filters

IRM 221: Principles of Insurance and Risk Management

Course Description:

IRM 221 is an introduction to the concept of risk, the process of risk management, and the field of insurance, including fundamental doctrines, historical background, social value, economic influence, loss exposures and protection, insurance regulation, insurance carriers, reinsurance, marketing, underwriting and claims adjusting. This course includes examination of the Michigan Essential Insurance Act and how this law addresses the social responsibility of the insurance business and its attempt to address social injustice. This course will also help students prepare for the AINS 21 national examination administered by The Institutes (formerly the Insurance Institute of America.

IRM 221 is the 1st of a 3-course series sponsored by the University of Olivet. Students who successfully complete the three courses by earning an overall score of 80% or higher are eligible to submit their transcripts for IRM 252 (CPCU 555) and IRM 253 (CPCU 551 plus Ethical Decision-Making in Risk Management) to The Institutes Knowledge Group to receive a CPCU professional designation certificate of completion. NOTE: Students who earn passing scores in the IRM courses are also eligible to receive postsecondary credit if they choose to later enroll with The University of Olivet following graduation from high school.

Course Details:

Course Title (District): IRM 221: Principles of Insurance and Risk Management
Course Title (NCES SCED) : Risk Management and Insurance
Course Provider : Michigan Virtual
Content Provided By : University of Olivet
Online Instructor Provided By : Michigan Virtual
Standards Addressed : None
Alignment Document : https://docs.google.com/document/d/e/2PACX-1vRChqbOvMYzQ-JVFqbmyMJFYiiEVyV2sHScsQb3F-AT9Rq97fRy0RTBFsEIFs5a3kBv8QSkx0uc6tA4/pub
Academic Terms : Trimester
NCES SCED Code : 12106
Subject Area : Business and Marketing
Course Identifier : Risk Management and Insurance
Course Level : High School (Secondary)
Available Credit : 0.5
Sequence : 1 of 3

How To Enroll:

Enrollment Website : https://slp.michiganvirtual.org/
Email : [email protected]
Phone : (888) 889-2840

Students and Parents: It is important to work closely with your local school counselor or registrar to follow the school's enrollment procedures. By clicking the "Start Registration Request" button below, you will be able to notify the school of your interest in registering for the online course. However, it is the responsibility of the district or school to review the registration request and approve or deny the request. Please make a note to follow up with your school after submitting a registration request.

Start Registration Request

Additional Course Information:

Additional Cost Description:

Etti Baranoff, Patrick Lee Brockett, Yehuda Kahane, and Dalit Baranoff (2021). Risk Management for Individuals and Enterprises, Version 2.1. FlatWorld. ISBN: 978-1-4533-3827-8

NOTE: Students will purchase digital access to the above eTextbook and accompanying resources by clicking on a secure link in the course and making direct payment to the textbook publisher, FlatWorld. Textbook access will be limited to the first chapter until payment is made for full access.

Upon completion of this course, students will be able to...

  • Identify traditional risk management processes
  • Identify enterprise risk management processes
  • Identify alternatives to insurance
  • Describe the structure of insurance contracts
  • Explain risk concepts
  • Explain insurance concepts
  • Describe insurance market structures
  • Describe insurance company operations
  • Describe state insurance regulations
  • Describe federal insurance regulations
  • Apply property insurance policy coverage language to real-world scenarios
  • Apply liability insurance policy coverage language to real-world scenarios
  • Interpret coverage forms for underwriting decisions
  • Identify sound underwriting decisions based on insurance coverage forms
  • Demonstrate negotiating skills in collaborative environments
  • Evaluate alternative viewpoints in team discussions

NSQ National Standards for Quality Online Courses: Fourth Edition (2025)

Rating Comments
A1: A course overview and syllabus are included in the course. Pilot: Review Pending
A2: Minimum computer skills and digital literacy skills expected of the learner are clearly stated. Pilot: Review Pending
A3: The instructor’s biographical information and information on how to communicate with the instructor are provided. Pilot: Review Pending
A4: Learner expectations and policies are clearly stated and readily accessible within the introductory material of the course. Pilot: Review Pending
A5: Minimum technology requirements for the course are clearly stated, and information on how to obtain the technologies is provided. Pilot: Review Pending
A6: Grading policies and practices are clearly defined in accordance with course content learning expectations. Pilot: Review Pending
A7: The course instructions articulate or link to a clear description of the technical support offered and how to obtain it. Pilot: Review Pending
A8: Learners are offered an orientation prior to the start of the course. Pilot: Review Pending

Rating Comments
B1: The course objectives or competencies are measurable and clearly state what the learner will be able to demonstrate as a result of successfully completing the course. Pilot: Review Pending
B2: Where applicable, the course content is aligned with accepted state and/or other accepted content standards. Pilot: Review Pending
B3: Digital literacy and communication skills are incorporated and taught as an integral part of the curriculum. Pilot: Review Pending
B4: Supplemental learning resources and related instructional materials are available to support and enrich learning and are aligned with the content delivered. Pilot: Review Pending
B5: The course content and supporting materials reflect different perspectives and provide non-stereotypical forms of representation. Pilot: Review Pending
B6: The course materials (e.g., textbooks, primary source documents, Open Education Resources “[OER])” that support course content standards are accurate and current. Pilot: Review Pending
B7: The course is free of adult content and avoids unnecessary advertisements. Pilot: Review Pending
B8: Copyright and licensing status for any third-party content is appropriately cited and easily found. Pilot: Review Pending
B9: Documentation and other support materials are available to support effective online course facilitation. Pilot: Review Pending
Rating Comments
C1: The course design includes activities that guide learners toward promoting ownership of their learning and self-monitoring. Pilot: Review Pending
C2: The course’s content and learning activities promote the achievement of the stated learning objectives or competencies. Pilot: Review Pending
C3: The course is organized by units and lessons arranged in a logical sequence. Pilot: Review Pending
C4: The course content is appropriate to the reading level of the intended learners. Pilot: Review Pending
C5: The course design includes introductory assignments or activities to engage learners within the first week of the course. Pilot: Review Pending
C6: The course provides learners with multiple learning paths as appropriate, based on learner needs, that engage learners in a variety of ways. Pilot: Review Pending
C7: The course provides regular opportunities for learner-learner interaction. Pilot: Review Pending
C8: The course design provides opportunities for learner-instructor interaction, including opportunities for regular feedback about learner progress. Pilot: Review Pending
C9: Course instructional materials and resources present content in an effective, engaging, and appropriate manner. Pilot: Review Pending
Rating Comments
D1: Learner assessments align with stated course, unit, or lesson-level objectives or competencies. Pilot: Review Pending
D2: Valid course assessments measure learner progress toward understanding of content. Pilot: Review Pending
D3: Assessment practices provide frequent and varied opportunities for self-monitoring and reflection of learning. Pilot: Review Pending
D4: Assessment materials provide the learner with the flexibility to demonstrate their understanding in a variety of ways. Pilot: Review Pending
D5: Rubrics that clearly define expectations for varied levels of proficiency are created and shared with learners. Pilot: Review Pending
Rating Comments
E1: Course navigation is logical, consistent, and efficient from the learner’s point of view. Pilot: Review Pending
E2: The course design facilitates readability. Pilot: Review Pending
E3: The course provides accessible course materials and activities to meet the variable needs of learners, following Universal Design for Learning principles. Pilot: Review Pending
E4: Multimedia in the course is easy to use. Pilot: Review Pending
E5: Vendor accessibility statements are provided for all technologies required in the course. Pilot: Review Pending
Rating Comments
F1: All technologies and tools included for use as part of the course ensure that learner privacy is protected in accordance with the Acceptable Use Policy and applicable law. Pilot: Review Pending
F2: The course tools further the learning objectives and course competencies. Pilot: Review Pending
F3: The course technology allows for customization and personalization. Pilot: Review Pending
F4: The course operates within a platform to score and record assessments and calculate earned course points or grades. Pilot: Review Pending
F5: Courses utilize emerging technologies that can enhance the learning experience, prioritizing learners and outcomes. Pilot: Review Pending
Rating Comments
G1: The course uses multiple methods and sources of input for assessing course effectiveness. Pilot: Review Pending
G2: The course is regularly reviewed to ensure that the course is current and relevant. Pilot: Review Pending
G3: The course is updated on a continuous improvement cycle for effectiveness based on the findings from ongoing reviews. Pilot: Review Pending

Review Conducted By: Michigan Virtual
Date of Review: 11/30/2026

Unit 1: Understanding Risk

Unit 2: Managing Risk and ERM

Unit 3: Insurance

Unit 4: Insurance Operations and Cycles

Unit 5: Contract Doctrines

Unit 6: Contract Structure and Analysis

Unit 7: Property and Cyber Risk

Unit 8: Liability Exposures

Term Type Enrollment Opens Enrollment Ends Random Draw Date Enrollment Drop Date Course Starts Course Ends # of Seats Course Fee Potential Additional Costs
Trimester 04/01/2026 12/25/2026 12/18/2026 12/04/2026 03/19/2027 100 $510
Drop Policy Completion Policy Term Type Enrollment Opens Enrollment Ends
Trimester 04/01/2026 12/25/2026
Students can use email or the private message system within the Student Learning Portal to access highly qualified teachers when they need instructor assistance. Students will also receive feedback on their work inside the learning management system. The Instructor Info area of their course may describe additional communication options.

Students will require a computer device with headphones, a microphone, webcam, up-to-date Chrome Web Browser, and access to YouTube.

Ensure that your school or district network and device administrator establishes network access permissions or exceptions for online resources relevant to the course in which you are choosing to enroll. Ref., Michigan Virtual Course Allow List

Please review the Michigan Virtual Technology Requirements.