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Interdisciplinary Programs with Risk Management and Insurance

Due to the pervasiveness of risk in all aspects of society, risk management and insurance is relevant to many fields.  It is both strengthened by the knowledge of other fields and contributes unique value to those fields in return.  This interdependence creates an exciting opportunity for expanded interdisciplinary programs within the University involving risk management and insurance.

Leveraging the resources of risk management and insurance through an interdisciplinary program expands its value beyond the College of Business to other areas of the University.  For example, The College of Law where professional skills and knowledge are developed that have a special affinity to risk management and insurance.  Law is a prime example of managing risks, not only in the public sector, but in the private sector as well.  Law is also the means by which risk and cost shifting are implemented within and between the public and private sectors.  Modern theory of tort law has emphasized compensation and risk spreading and the role of liability insurance.  For these and other reasons, the opportunity for creative collaboration may be quite timely.

Other colleges, such as Engineering, may have special needs that could be addressed through interdisciplinary programs that highlight the risks unique to these areas and the process for managing these risks.  For the College of Engineering, the development of loss control or loss prevention programs might be the hallmark of an interdisciplinary program.