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 General Education Requirements
All undergraduate students at the University of Wisconsin–Madison are required to fulfill a minimum set of common university general education requirements to ensure that every graduate acquires the essential core of an undergraduate education. This core establishes a foundation for living a productive life, being a citizen of the world, appreciating aesthetic values, and engaging in lifelong learning in a continually changing world. Various schools and colleges will have requirements in addition to the requirements listed below. Consult your advisor for assistance, as needed. For additional information, see the university Undergraduate General Education Requirements section of the Guide.
| General Education |
* The mortarboard symbol appears before the title of any course that fulfills one of the Communication Part A or Part B, Ethnic Studies, or Quantitative Reasoning Part A or Part B requirements. |
School of Business Requirements
The Wisconsin Bachelor of Business Administration (BBA) program combines UW–Madison’s general liberal education requirements, broad coverage of core business disciplines, and cutting-edge signature courses to create a strong academic foundation upon which students delve deeply into their majors.
| Code | Title | Credits |
|---|---|---|
| School of Business BBA Requirements | ||
| complete requirements:/ | ||
School of Business Liberal Studies Requirements | ||
Business Fundamentals Requirement | ||
Business Core Requirement | ||
Business Signature Requirement | ||
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 | |
University Degree Requirements
| Total Degree | To receive a bachelor's degree from UW–Madison, students must earn a minimum of 120 degree credits. The requirements for some programs may exceed 120 degree credits. Students should consult with their college or department advisor for information on specific credit requirements. |
| Residency | Degree candidates are required to earn a minimum of 30 credits in residence at UW–Madison. "In residence" means on the UW–Madison campus with an undergraduate degree classification. “In residence” credit also includes UW–Madison courses offered in distance or online formats and credits earned in UW–Madison Study Abroad/Study Away programs. |
| Quality of Work | Undergraduate students must maintain the minimum grade point average specified by the school, college, or academic program to remain in good academic standing. Students whose academic performance drops below these minimum thresholds will be placed on academic probation. |
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.
People
For more information about the faculty and their research interests, please visit the directory.
Accreditation
AACSB International—The Association to Advance Collegiate Schools of Business
Accreditation status: Accredited. Next accreditation review: 2026–2027.