Beginning in the spring semester, Ohio State will offer a minor in insurance. The minor is available to all students regardless of major. Fisher students in other business specializations are also eligible for the minor.
According to Bernadette Minton, chair of Fisher’s Department of Finance and the Arthur E, Shepard Endowed Professorship in Insurance, “the new minor will be delivered in a hybrid approach — to students in the classroom, entirely online or a combination of the two. The two-semester program also provides students the ability to complete online coursework throughout the summer. The minor consists of two required courses in business, plus three elective courses to be chosen from a larger list.”
Like most minors, a total of 15 credit hours must be completed with a cumulative GPA of 2.0 or higher and at least a C- in each course. A maximum of six credit hours can come from transfer and EM credit and overlap with general education requirements. Minors must be in a different subject than a student’s major. Twelve of the 15 hours must be unique to the minor (not part of requirements for a major or other minor(s)). A maximum of three credit hours may be graded. “Satisfactory/Unsatisfactory” and no “Pass/Fail” classes can be counted.
The two required courses in the minor are Introduction to Insurance and Risk (BUS FIN 3300) and Commercial Property and Casualty Insurance (BUS FIN 4310). The remaining courses are fulfilled as electives from the finance, accounting, management sciences, human resources, and economics departments. All courses are three credit hours. Before beginning the minor, students must have credit for Math 1130 or 1148 or higher and Econ 2001.01. Some of the elective courses may have their own prerequisites as well
Regarding benefits of the program, Minton mentions, “The minor is designed to provide students with an opportunity to complement their major studies with a specialization in insurance; to engage students from different majors to create an interdisciplinary classroom experience; and to prepare students for various employment opportunities in the rapidly growing field of insurance.”
When asked about skills students need to succeed in insurance classes, Minton stressed, “negotiation and communication, strategic thinking and analytical and quantitative skills.” She also mentioned attention to detail and the ability to collaborate with others.
Minton believes the insurance minor pairs well with Fisher specializations like finance, human resources, real estate and logistics. Outside of Fisher, she suggests it can pair well with actuarial science, financial planning and economics.
Studying insurance can prepare students for a variety of careers. Minton mentioned jobs such as a claims adjuster or manager, fraud examiner, risk manager and insurance appraiser, investigator and underwriter. It can also prepare students for jobs as accountants or actuaries.
Fisher also offers insurance as a specialization for students majoring in business. Students in this specialization complete the usual business core classes and 15 credit hours in the specialization. Like the minor, BUS FIN 3310 and 4310 are both required with the rest of the courses being electives.
Interested students can inquire about the insurance minor through the Undergraduate Programs and Advising Office at Fisher. However, no approval from Fisher is needed to declare the minor. Students need only file the minor with their respective college before graduating.