This course will study the Alternative Risk Transfer (ART) mechanism of captives. It will take a brief look at other
ART mechanisms such as Risk Purchasing Groups and Self-Insurance Pools. The text is divided into four distinct
sections: Understanding Risk; Captives as Risk Retention Mechanisms; Captives as Risk Transfer Mechanisms; &
The Legal Environment of Captive Insurance. Each chapter is designed to be a self-contained lesson with a learning
objective to emphasize the different ways in which captives are involved in the management of risk.
It is not the purpose of this course to provide a risk management manual, but to focus the captive “student” on the
elements of risk management that are the foundation of the entire alternative risk transfer industry. The objective is
to go beyond the “big picture” view and provide practical, everyday information to assist those with the
responsibility for making a captive program achieve its ultimate objective, which is to reduce the financial impact
of risk.
Captives and the Management of Risks, by Kathryn A. Westover. The student can purchase the text online at
www.IRMI.com or by contacting the International Risk Management
Institute, Inc., 12222 Merit Dr., Ste. 1450, Dallas, TX 75251-2276; phone 972-960-7693; fax 972-371-5120. ISBN #: 1886813884
Course Overview:
Week 1: Read Chapters 1 & 2 in text. Answer the Discussion Questions and review the Key Words and
Phrases To Understand at the end of each chapter.
Week 2: Read Chapters 3 & 4 in text. Answer the Discussion Questions and review the Key Words and
Phrases To Understand at the end of each chapter.
Week 3: Read Chapters 4 & 5 in text. Answer the Discussion Questions and review the Key Words and
Phrases To Understand at the end of each chapter.
Week 4: Read Chapters 6 & 7 in text. Answer the Discussion Questions and review the Key Words and
Phrases To Understand at the end of each chapter.
Week 5: Review and Mid-Term Exam. Multiple-choice and true-false questions covering Chapters 1-7.
Week 6: Read Chapters 8 & 9 in text. Answer the Discussion Questions and review the Key Words and
Phrases To Understand at the end of each chapter.
Week 7: Read Chapters 10 & 11 in text. Answer the Discussion Questions and review the Key Words and
Phrases To Understand at the end of each chapter.
Week 8: Read Chapters 12 & 13 in text. Answer the Discussion Questions and review the Key Words and
Phrases To Understand at the end of each chapter.
Week 9: Review and Final Exam. Multiple-choice and True-False questions covering all Chapters.
Answers to the discussion questions must be submitted to the instructor no later than 5 PM (CST) on Sunday (at
the end of each two-week assignment period).
Grading: 20% of the grade will be determined by the weekly assignments and 80% from the mid-term and
final exams, equally.
A 90-100%
B 80-89%
C 70-79%
D 60-69%
F 0-59%
The course should take 9 weeks to complete, but must be completed within 12 weeks of an agreed starting date.
The instructor may be contacted by e-mail at: stevet@canyoncollege.edu
with any questions, concerns or comments about the course. If a person-to-person conversation is necessary, the
student should email the instructor with a time and phone number where the student can be reached.
Academic honesty is highly valued at Canyon College and all work is expected to be done by the student
personally.
