Business, Bachelor of Science (B.S.) with a concentration in risk management and insurance

The B.S. in Business with a concentration in risk management and insurance is where business, analytics and relationships meet. The concentration prepares students to help people, organizations and communities anticipate uncertainty, recover from loss and keep commerce moving. Students learn how insurance and other risk management tools make it possible to launch startups, build major projects, protect data and respond to challenges such as natural disasters, cyberattacks and supply chain disruptions. Built on a solid foundation in business, the program emphasizes analytical thinking, practical decision-making and relationship management -- skills that translate across industries and career paths in corporate risk management, consulting, underwriting, claims and emerging risk specialties.

Learning goals

Graduates will understand how to identify, assess and manage risk across organizations and industries. They will learn to use analytical and managerial tools to make informed decisions, strengthen business operations and support people and communities when disruptions occur. The program emphasizes problem-solving, communication and leadership skills that prepare graduates to anticipate uncertainty, respond effectively to change and contribute to resilient and sustainable enterprises in a global economy.

Upon completing this program, students will know and know how to do the following:

1. Risk analysis and strategy – Identify and assess major sources of risk facing individuals, businesses and communities; evaluate alternative responses; and recommend strategies that promote stability and resilience.

2. Analytical decision-making – Apply data and quantitative reasoning to measure risk, compare options and support informed decisions in risk management and insurance.

3. Communication and leadership – Present risk insights and solutions clearly in written, visual and oral forms, and collaborate effectively with teams to address complex business challenges.

4. Ethical and professional judgment – Recognize the legal, regulatory and ethical dimensions of risk management, and apply professional standards that foster integrity, trust and confidence in business and society.

Special requirements

The School of Business has special academic policies, including policies on transfer credits, that apply to all undergraduate degrees.

School of Business progression policy 

Students enrolled in undergraduate programs of the School of Business engage in a demanding curriculum designed to set them up for success in the world of business. In order to successfully maintain progress towards graduation, students are required to meet the following criteria in order to remain in their majors:

• Students are required to pass major and ancillary requirements within two attempts. If a student withdraws from a course, it will count as an attempt. 

  • Upon the third attempt at a course, students will be placed on business probation and must pass the course successfully in that third attempt.

• Students must maintain a minimum 2.0 major GPA.

  • If a student's major GPA drops below 2.0, they will be placed on business probation and allowed one semester to raise their major GPA to 2.0. 

Upon notification of being placed on business probation, students will receive a registration hold, and must meet with their business adviser prior to the add/drop deadline of the pursuant semester in order to create an action plan to either pass the repeated course successfully, or increase their major GPA.

Students who do not meet the performance expectations of business probation in that same semester will be required to change their major prior to the start of the next semester.

Students may appeal the change of major via the associate dean of the School of Business. Students must initiate the appeal with their assigned academic adviser. The associate dean may, at their discretion, extend the time period needed to meet the requirements, generally by only one semester. A student who wishes to appeal must submit his or her appeal at least one week prior to the start of the next semester in which they register for classes.

Degree requirements for Business, Bachelor of Science (B.S.) with a concentration in risk management and insurance

 The minimum number of credit hours required for this degree is 120.

Approved risk management and insurance electives

What follows is a sample plan that meets the prescribed requirements within a four-year course of study at VCU. Please contact your adviser before beginning course work toward a degree.

Recommended course sequence/plan of study 

Freshman year
Fall semester		Hours
BUSN 201 or BUSN 205	Foundations of Business 1 or Introduction to the World of Business 1	3
UNIV 111 Play course video for Introduction to Focused Inquiry: Investigation and Communication	Introduction to Focused Inquiry: Investigation and Communication (satisfies general education UNIV foundations)	3
UNIV 191 or UNIV 101 or UNIV 103	Student Success Special Topics (satisfies open elective) or Introduction to the University or Education and Career Planning	1
Open elective (prerequisite to BUSN 212 suggested)		3
General education courses		5
	Term Hours:	15
Spring semester
ACCT 203	Introduction to Financial Reporting	3
BUSN 212 or MATH 200	Business Problem Solving and Analysis (either satisfies general education quantitative foundations) or Calculus with Analytic Geometry I	4
ECON 210	Principles of Microeconomics (satisfies general education BOK for social/behavioral sciences and/or AOI for global perspectives)	3
UNIV 200	Advanced Focused Inquiry: Literacies, Research and Communication (satisfies general education UNIV foundations)	3
General education course		3
	Term Hours:	16
Sophomore year
Fall semester
ACCT 204	Introduction to Managerial Accounting	3
ECON 211	Principles of Macroeconomics	3
MGMT 310	Managing People in Organizations	3
SCMA 301	Business Statistics I	3
General education course		3
	Term Hours:	15
Spring semester
BUSN 301	Career and Professional Development	1
FIRE 311	Financial Management	3
MGMT 303	Creativity and Ideation	3
MGMT 319	Leadership	3
SCMA 302	Business Statistics II	3
General education course		3
	Term Hours:	16
Junior year
Fall semester
BUSN 325	Business Communications	3
FIRE 309	Risk Management and Insurance	3
FIRE 369	Insurance Company Operations	3
Approved RMI elective		3
General education course		3
	Term Hours:	15
Spring semester
BUSN 323	Legal Environment of Business	3
INFO 360	Business Information Systems	3
MKTG 301	Marketing Principles	3
Approved RMI elective		3
Open elective		1
	Term Hours:	13
Senior year
Fall semester
FIRE 429	Property and Liability Insurance	3
SCMA 320	Production/Operations Management	3
Approved RMI elective		3
Open electives		6
	Term Hours:	15
Spring semester
BUSN 499	Business Knowledge Exam	0
FIRE 479	Enterprise Risk Management	3
MGMT 434	Strategic Management	3
Approved RMI elective		3
Open electives		6
	Term Hours:	15
	Total Hours:	120

The minimum number of credit hours required for this degree is 120.