The major in risk management and insurance prepares students to identify, analyze, and manage risks that are inherent in the operation of profit and not-for-profit institutions. Besides professional careers in risk management, the major cultivates skills required for challenging opportunities in organizations that accept these risks—private and governmental insurers, as well as brokerage/agency and consulting organizations.
The program of study may be structured to aid students seeking professional designations of Chartered Property and Casualty Underwriter (CPCU) and Associate in Risk Management (ARM).
Recognition
Our risk management and insurance undergraduate program is consistently ranked among the leading programs in the U.S. by U.S. News & World Report.
Related Organizations
Risk Management and Insurance Society
Co-Curricular Learning Board
How to Get in
Current UW–Madison Students
| Requirements | Details |
|---|---|
| How to get in | Application required. Meeting the requirements listed below does not guarantee admission. (https://admissions.wsb.wisc.edu/BbaPreBusiness) |
| Courses required to get in | Students are required to complete each of the 4 requirements below. Requirements can be completed via coursework, test credit, transfer work, or placement exam (if applicable). Communication A Quantitative Reasoning A Economics Human Behavior |
| GPA requirements to get in | Minimum 3.0 UW-Madison GPA. |
| Credits required to get in |
|
| Other |
|
| Semester | Deadline to apply | Decision notification timeline |
|---|---|---|
| To apply for a fall start | Mid March | On or before July 1st. |
| To apply for a spring start | This program does not accept applications to start in the spring. | |
| To apply for a summer start | This program does not accept applications to start in the summer. |
Prospective First-Year Applicants
All prospective UW–Madison students must apply through the central Office of Admissions and Recruitment. Prospective high school students may be considered for direct admission to Business based on their application to the University of Wisconsin-Madison. Simply list a Business interest as your top academic area of interest on the University application.
Prospective Transfer Applicants
Transfer students at University of Wisconsin System campuses or Wisconsin Technical Colleges may apply separately for admission to both the University of Wisconsin-Madison and the School of Business during the spring term for fall enrollment. Information for prospective transfer students can be found here: https://business.wisc.edu/undergraduate/admissions/transfer-students/.
Additional Information
Students declared in Business: Risk Management and Insurance cannot earn the Summer Certificate in Business Fundamentals, Certificate in Business, or the Certificate in Entrepreneurship due to curriculum overlap.
University Requirements
All undergraduate students must complete both the following Core General Education (Core GenEd) and University Degree and Quality of Work requirements. The requirements below apply to students whose first term at UW-Madison or whose earliest post-high school college attendance at any institution is Summer 2026 or later.
Students whose first term at UW-Madison or whose earliest post-high school college attendance at any institution occurred before Summer 2026 should refer to the archived Guide for the requirements that apply to them.
Core General Education (Core GenEd) Requirements
| Civics & Perspectives | 3 credits of Civics & Perspectives coursework. |
| Communication & Literacy | 6 credits of Communication & Literacy coursework. This requirement may be partially satisfied by a qualifying placement test score. For more information see this tiny url: https://go.wisc.edu/qualifyingenglishplacement |
| Humanities & Arts | 6 credits of Humanities & Arts coursework. |
| Mathematics & Quantitative Reasoning | 6 credits of Mathematics & Quantitative Reasoning coursework. This requirement may be partially satisfied by a qualifying placement test score. For more information see this tiny url: https://go.wisc.edu/qualifyingmathplacement |
| Natural Science & Wellness | Complete both:
|
| Social & Behavioral Science | 3 credits of Social & Behavioral Science coursework. |
| Total Credits | 30 credits. |
For more information see the policy.
University Degree and Quality of Work Requirements
All undergraduate degree recipients must complete the following minimum requirements. Requirements for some programs will exceed these requirements; see program requirements for additional information.
| Total Degree | 120 degree credits. |
| Residency | Complete 30 credits in residence. A course is considered “in residence” if it is taken when in undergraduate degree-seeking status and:
|
| Quality of Work | Achieve at least the minimum grade point average specified by the school, college, and/or academic program. |
| Math | Demonstrate minimal mathematics competence by: |
| English Language | If required to take the UW-Madison English as a Second Language Assessment Test (MSN-ESLAT), demonstrate minimal English language competence by:
|
| Language | Complete one:
|
| Major Declaration | Declare and complete the requirements for at least one major. |
School of Business BBA Requirements
The Wisconsin Bachelor of Business Administration (BBA) program combines UW–Madison’s core general education requirements, broad coverage of core business disciplines, and cutting-edge experiential learning and signature courses to create a strong academic foundation upon which students delve deeply into their majors.
Business Liberal Studies
Liberal studies requirements must be completed prior to graduation. A single course cannot be used to fulfill multiple liberal studies requirements.
| Communications A | Complete either:
|
| Microeconomics | Complete one: |
| Macroeconomics | Complete either: |
| Social Science | One 3+ credit course with the Social Science designation. Courses in or cross-listed with the following subjects do not satisfy this requirement: ACCT I S, ACT SCI, FINANCE, GEN BUS, INFO SYS, INTL BUS, M H R, MARKETNG, OTM, R M I, REAL EST. |
| Calculus | Complete either: |
| Literature | One 3+ credit course with the Literature designation. |
| Science | 6 credits with the Biological, Natural, or Physical Science designations. Courses in or cross-listed with MATH or STAT cannot be used to meet this requirement. |
| Ethnic Studies | One 3+ credit course with the Ethnic Studies designation. |
| Humanities | One 3+ credit course with the Humanities designation. |
| Ethics | Complete one: |
Business Fundamentals
| Code | Title | Credits |
|---|---|---|
| GEN BUS 106 | Foundational Skills for Business Analysis | 1 |
| GEN BUS 107 | Introduction to Artificial Intelligence in Business | 1 |
| GEN BUS 301 | Business Law | 3 |
| GEN BUS 360 | Workplace Writing and Communication | 3 |
| ACCT I S 100 | Introductory Financial Accounting | 3 |
Business Analytics Sequence
Complete one of the sequence options below. Courses should be taken in subsequent semesters.
| Code | Title | Credits |
|---|---|---|
| Option 1 | ||
| GEN BUS 306 & GEN BUS 307 | Business Analytics I and Business Analytics II | 6 |
| Option 2 (Required for Actuarial Science Majors): | ||
| MATH 331 | Introductory Probability | 3 |
| or STAT/MATH 309 | Introduction to Probability and Mathematical Statistics I | |
| GEN BUS 317 | Mathematical Foundations of Business Analytics (Recommended for Actuarial Science majors) | 3 |
| or STAT/MATH 310 | Introduction to Probability and Mathematical Statistics II | |
| Option 3 (Recommended for Economics Double Majors or Econ Certificate Students): | ||
| ECON 310 | Statistics: Measurement in Economics | 4 |
| ECON 400 | Introduction to Applied Econometrics | 4 |
| or ECON 410 | Introductory Econometrics | |
Business Core
| Code | Title | Credits |
|---|---|---|
| ACCT I S 211 | Introductory Managerial Accounting | 3 |
| FINANCE/ECON 300 | Introduction to Finance | 3 |
| MARKETNG 300 | Marketing Management | 3 |
| M H R 300 | Managing Organizations | 3 |
| OTM 300 | Operations and Supply Chain Management | 3 |
| Total Credits | 15 | |
Business Experiential Learning
| Code | Title | Credits |
|---|---|---|
| GEN BUS 110 | Personal and Professional Foundations in Business | 1 |
| GEN BUS 210 | Artificial Intelligence Enabled Business Solutions Lab | 2 |
| GEN BUS 410 | Business Solutions Capstone | 3 |
| Total Credits | 6 | |
Business Signature
| Code | Title | Credits |
|---|---|---|
| Complete one of the following: | 3 | |
| Introduction to Databases | ||
| International Business | ||
| The Real Estate Process | ||
| Principles of Risk Management | ||
| Complete one of the following: | 2 | |
| Human-centered Design and Business | ||
| Sustainable Capitalism | ||
| The Business of Health Care | ||
| Cloud Analytics and Artificial Intelligence Tools for Business | ||
| Total Credits | 5 | |
Business Graduation Requirements
| Cumulative Credits | Students must earn 120 degree credits. |
| Quality of Work | Students must maintain a minimum cumulative grade point average of 2.000. |
| Residency | Students must complete 30 degree credits in residence at UW–Madison. |
Business: Risk Management & Insurance (R M I) Major Requirements
The risk management and insurance major consists of 15 required credits. R M I 300 should be completed prior to any other R M I coursework, as it is a prerequisite for all other courses.
| Code | Title | Credits |
|---|---|---|
| R M I 300 | Principles of Risk Management | 3 |
| Complete 2 of the following courses | 6 | |
| Management of Insurance Enterprise | ||
| Commercial Insurance | ||
| Risk Financing Techniques | ||
| Risk Analytics and Behavioral Science | ||
| Complete 6 additional credits of R M I coursework numbered 600 or above, or 3 additional credits of R M I coursework numbered 600 or above and 3 credits of the following | 6 | |
Any ACT SCI course numbered 600 or above | ||
| Foundations of Auditing | ||
| Corporation Finance | ||
| Derivative Securities | ||
| Creative Destruction Lab I | ||
| Creative Destruction Lab II | ||
| Procurement and Supply Management | ||
| Real Estate Investment Analysis | ||
| Total Credits | 15 | |
Learning Outcomes
- Integrate a holistic risk management process (framework) across all dimensions of an organization, implementing risk management decisions that add value.
- Use appropriate statistical techniques and data analysis to support risk management decisions.
- Apply fundamental insurance principles that support economic development through insurance markets.
- Identify decision-making challenges, and implement strategies to address those challenges, in environments involving risk and uncertainty.
- Demonstrate strong critical thinking skills as observed through their ability to debate various positions, ask skeptical questions, and probe underlying assumptions.
- Demonstrate leadership qualities in moving the profession forward.
Four-Year Plan
This is a sample four-year plan for students directly admitted into the School of Business from high school. We encourage all students to consult with their academic advisor to develop an individualized plan that meets their specific needs.
| Freshman | |||
|---|---|---|---|
| Fall | Credits | Spring | Credits |
| Communications A | 3-4 | Literature | 3 |
| MATH 211 or 221 | 4-5 | ECON 101 or 111 | 4 |
| GEN BUS 110 | 1 | GEN BUS 106 | 1 |
| Science | 3 | PSYCH 202, SOC 211, ANTHRO 104, GEN&WS 102, or HDFS 263 (Human Behavior) | 3-4 |
| Humanities | 3 | Ethnic Studies | 3 |
| 14-16 | 14-15 | ||
| Sophomore | |||
| Fall | Credits | Spring | Credits |
| GEN BUS 360 | 3 | ACCT I S 211 | 3 |
| ECON 102 or 111 | 4 | GEN BUS 306 | 3 |
| ACCT I S 100 | 3 | GEN BUS/DS 240, 250, or 308 (Take One) | 2 |
| M H R 300 | 3 | MARKETNG 300 | 3 |
| R M I 300 | 3 | R M I 640, 645, 655, or 660 (Take One) | 3 |
| 16 | 14 | ||
| Junior | |||
| Fall | Credits | Spring | Credits |
| R M I 645, 640, 655, or 660 (Take One) | 3 | R M I Elective2 | 3 |
| GEN BUS 307 | 3 | OTM 300 | 3 |
| GEN BUS 301 | 3 | GEN BUS 308, 240, or 250 (Take One) | 2 |
| FINANCE/ECON 300 | 3 | REAL EST/A A E/ECON/URB R PL 306, R M I 300, INTL BUS 200, or INFO SYS 322 (Take One)1 | 3 |
| Elective | 4 | Elective | 4 |
| 16 | 15 | ||
| Senior | |||
| Fall | Credits | Spring | Credits |
| GEN BUS 400 | 3 | PHILOS 241, 243, 341, or 441 (Ethics) | 3-4 |
| R M I Elective2 | 3 | Elective | 3 |
| Science | 3 | Elective | 3 |
| Elective | 4 | Elective | 3 |
| Elective | 3 | Elective | 3 |
| 16 | 15-16 | ||
| Total Credits 120-124 | |||
- 1
This requirement is satisfied through the Risk Management and Insurance major requirements.
- 2
Complete 6 additional credits of R M I coursework numbered 600 or above, or 3 additional credits of R M I coursework numbered 600 or above and 3 credits of the following: any ACT SCI course numbered 600 or above, FINANCE 325 Corporation Finance, FINANCE 330 Derivative Securities, OTM/MARKETNG 423 Procurement and Supply Management, ACCT I S 630 Foundations of Auditing, M H R 640 Creative Destruction Lab I, or M H R 641 Creative Destruction Lab II.
Advising and Careers
Advising
Advising is an integral part of any student’s educational journey in the School of Business Undergraduate Program. Starting at Student Orientation, Advising, and Registration (SOAR), we encourage all students to connect with academic advisors. Business academic advisors have a wealth of knowledge about courses on campus, as well as policies and procedures.
Business career coaches help students with career exploration, internships, resumes, job search, interviewing, and more. We encourage students to connect with their career coach once they arrive on campus.
Business academic advisors and career coaches are passionate about student success. Students experiencing academic difficulty or personal struggles are encouraged to talk to their advisor about how their individual situation may affect their academic performance.
Assigned Academic and Career Coaches
Admitted business students will have one assigned academic advisor. Career coaches are assigned by academic major to be able to provide industry-specific career guidance. If a student has more than one major, they may have more than one assigned career coach. Students can find their assigned advisor and coach by logging into the Starfish portal through MyUW.
For students not yet admitted to the School of Business, there is a team of pre-business advisors available.
Accessing Advising
Drop-in advising and scheduled appointments are available for admitted business students. Pre-business students may also schedule an appointment with a pre-business academic advisor or utilize drop-in academic advising.
For more information on accessing academic advising, please see our Academic Advising page.
For more information on accessing career coaching, please see our Career Coaching page.
Careers
Risk professionals identify, develop, and analyze solutions to manage risk (financial, credit, operational, etc.) at both the organizational and consumer level. Effective risk management encompasses all divisions of an organization, allowing the organization to grow safely and to be more resilient. Insurance is a key solution for managing risk and is deployed by risk professionals working as brokers, underwriters, claims adjusters, product developers, and a host of other potential insurance careers.
To learn more about careers in risk management and insurance, please visit the BBA RMI website.
More information on Career Pathways.
Accreditation
AACSB International—The Association to Advance Collegiate Schools of Business
Accreditation status: Accredited. Next accreditation review: 2026–2027.