Insurance programs prepare people to provide insurance services to people and businesses. Students learn about many types of insurance and pension plans. They also learn how to reduce risks and adjust for losses.

You are probably familiar with the insurance that covers your life, medical bills, car, and house. But consider that almost every business activity has to be insured against possible loss or damage. For example, a movie studio needs insurance before shooting a movie. This insurance covers the risk that the star will not be able to complete the film. A consultant who writes computer programs also needs insurance. In this case it is against the chance that a program will cause a computer to crash and lose valuable data. Similarly, a sneaker manufacturer is insured against injuries. The risk is that someone will sue because of an injury linked to the design of a pair of running shoes.

Insurance and risk management programs teach students how the potential for risks can be measured. They also teach ways to minimize risks and losses. As a student you learn about the laws related to damage and loss. You also learn how businesses make up for losses related to employees who fall ill, die, or become eligible for retirement benefits. Because you work with so many businesses as a member of the insurance field, a background in business is helpful.

About 45 colleges offer programs in insurance and risk management. These schools offer a four-year program that leads to a bachelor's degree. This program is good preparation for entry-level positions in the insurance field. Students who have taken many advanced math and statistics courses may become actuary trainees.

An additional 30 two-year colleges offer associate degrees in insurance. Sometimes you can specialize in insurance within a two-year program in business management. Graduates of these programs may work as insurance sales representatives. Other possible occupations are claim adjuster, examiner, or investigator.

Several schools offer graduate degrees in insurance and risk management. (They are almost always offered together.) The most common degree is a master's degree, which usually takes two years to complete.