 | The University of Virginia record April 1, 1929 |  |
INSURANCE
The function of insurance is to distribute the risks of business or life over a
large number of individual units. True insurance is a means by which the risks
of economic loss are transferred from the individual to a group or association.
In many fields to which it is applied, it is possible by scientific calculation to
determine average losses to a reasonable degree of accuracy. Thus, today insurance
itself has become one of the largest of all forms of business.
The course is designed mainly to lay a broad foundation for the student in
the principles and practice of insurance. Consideration is given to its development,
its forms and uses, types of insurance organizations, and its general function
in relation both to business and the State.
| Session-hours | |
| Commercial Law B1 | 3 |
| Economics B2 | 3 |
| Economics B3 | 3 |
| Economics B5 | 3 |
| Government B1 | 3 |
| 15 |
| Economics B10 | 3 |
| History B2 or B3 | 3 |
| Sociology B1 | 3 |
| Economics C3 | 3 |
| Economics C1 or C4 | 3 |
| 15 |
| The University of Virginia record April 1, 1929 | |