The success of any firm depends on its ability not only to create value for stockholders but also to protect such value. While the field of finance has historically paid significant attention to value creation, less has been said about the protection of value. Risk Management and Insurance (RMI) specifically addresses the issue of value protection. The Risk Management and Insurance curriculum focuses on the financial and economic characteristics of potential exposures to loss faced by firms and individuals, and the techniques available to minimize the costs associated with such exposures.

Increasingly, nonfinancial companies are recognizing the importance of enterprise-wide risk management and thus are turning to business schools for trained risk managers. There are also career opportunities in the various financial service industries such as insurance, banking, pensions, and investment management.