Personal Insurance Principles: For University Students and Practitioners (Insurance Principles and Commercial Insurance Principles Textbooks)

Perfect for AINS102 exam study!
AINS Section 1 = Chapter 1
AINS Section 2 = Chapter 2
AINS Section 3 = Chapter 3
AINS Sections 4, 5, and 6 = Chapters 4 and 5
= Chapters 6, 7, and 8 are additional content
Perfect for an 8-week or 16-week university course!
The chapter titles are:
Chapter 1: Personal Insurance Overview
Chapter 2: The Personal Auto Policy
Chapter 3: ISO (HO3) Homeowners Coverage
Chapter 4: Other Personal Policies
Chapter 5: Underwriting Across Lines and Evolving Policyholder Needs
Chapter 6: Life Insurance
Chapter 7: Retirement Planning
Chapter 8: Disability and Health Insurance Plans
Insurance and Risk Management (IRM) affects nearly every person and organization in the modern economy. It supports the ability to plan, invest, protect assets, and recover after unexpected events. Yet IRM is more than policies and premiums; it is decision-making under uncertainty, communication across stakeholders, and responsible stewardship of risk.
This textbook was written for two audiences who often learn IRM in different ways: university students, especially students earning insurance industry designations and who want a clear foundation and practical understanding, and insurance industry professionals who benefit from a structured, concept-driven approach. Whether you are preparing for coursework, pursuing professional development, or applying IRM principles in day-to-day roles, my goal is to help you connect theory to real-world practice.
Insurance and risk management for personal lines focuses on identifying everyday risks faced by individuals and families, such as property damage, liability exposures, and health or income interruptions, and then transferring or mitigating those risks through appropriately structured insurance products. Personal lines policies (including home, renters, auto, and related coverage options) are designed to cover specific perils and losses subject to terms, limits, deductibles, and exclusions, while risk management practices help policyholders reduce the likelihood and severity of losses through prevention, safety measures, documentation, and informed coverage selection. Effective decision-making requires understanding how underwriting assumptions, policy provisions, and claims processes interact with personal financial goals, including budgeting for premiums and out-of-pocket costs. Overall, personal lines insurance serves as a financial safety net that complements proactive risk reduction, helping individuals maintain stability and recover more quickly after unexpected events.
I am Michael L. Burkhardt, Ph.D., CPCU, Professor and Program Head of the Insurance and Risk Management program at Northwood University, including an MBA in Insurance from The University of Olivet, and a past independent insurance agent of 21 years. That blend of academic and professional experience shapes the perspective of this textbook: rigorous enough for serious learning, practical enough for real application, and written with students and practitioners in mind.
Thank you for choosing this book. I hope it strengthens your understanding of insurance and risk management and helps you develop the confidence to apply IRM principles wherever you may work or study.
- Michael L. Burkhardt, Ph.D., CPCU