Certain subfields of the business sector are experiencing rapid growth, and the demand for graduates with specialized knowledge is increasing. One of these in-demand specializations is risk management and insurance. As a result of healthcare reform and an aging population, employment in positions related to risk management is projected to increase nearly 30% by 2024. An online bachelor's degree in risk management will prepare you to market yourself in this high-demand field, while providing fundamental business skills useful across industries.

What are the best risk management programs of 2020? Here are our top 5:

Rank School Location
1 University of Houston - Downtown Houston, TX
2 Johnson & Wales University Providence, RI
3 Eastern Kentucky University Richmond, KY
4 University of Central Arkansas Conway, AR
5 Ohio Dominican University Columbus, OH

Choosing a Program

An online risk management degree instructs students in core financial principles and specialized concepts in risk management and insurance. Students pursuing a risk management degree online gain a thorough understanding of management, finance, and statistics. They explore the insurance industry, learning how policies are developed and about methodologies used to determine risk. Coursework also covers underwriting, negotiation, and financial counseling.

Many programs allow students to specialize even further, offering electives in fields such as law and entrepreneurship. Other programs include thorough instruction in topics pertaining to insurance. Graduation requirements vary considerably; students may be required to complete a portfolio or pass a comprehensive exam. Some programs also include an internship with a local business or firm.

What Are The Best Online Bachelor's in Risk Management Programs?

Rank School Location Cost Graduation Rate Description Toggle

University of Houston - Downtown

Houston, TX Cost: $$$$$ Graduation Rate: 20%

UHD offers more than 50 certificates and degrees, including an online bachelor's degree in insurance and risk management. After completing this comprehensive program, graduates can pursue careers as claims adjusters, insurance agents, and corporate risk analysts.

Program coursework covers foundational topics like financial accounting and marketing principles. Students also delve into supply chain management, learning how to create value by integrating production and the distribution of goods, services, and information. The program prepares graduates to sit for professional certification exams leading to designations as chartered financial consultants and certified life underwriters.

First-year applicants need a minimum 2.5 GPA and adequate ACT or SAT scores. Transfer applicants must have at least 15 credits earned with a 2.0 GPA or higher.


Johnson & Wales University

Providence, RI Cost: $$$$$ Graduation Rate: 20%

JWU maintains its flagship campus in Providence, Rhode Island, and serves about 7,300 students. Distance learners at JWU can earn an online bachelor's degree in enterprise risk management. Throughout a career-focused curriculum, students learn to address workplace violence, information theft, and economic terrorism.

Program courses include risk analysis and loss prevention, information security, and enterprise management. Students learn to assess organizational readiness and implement countermeasures against cybersecurity threats. Learners can supplement their risk management major with a human resource management minor.

This program accepts applications on a rolling basis. Prospective students must have at least two years of full-time work experience. The university awards scholarships specifically for online students.


Eastern Kentucky University

Richmond, KY Cost: $$$$$ Graduation Rate: 47%

Based in Richmond, EKU powers distance education with the Blackboard platform. The university's online offerings include a bachelor's degree in risk management and insurance. This program helps students gain the communication and technical skills needed to work as financial planners and data research analysts.

The program's 120-credit curriculum covers topics like business finance, management information systems, and marketing principles. Learners also examine the legal and ethical environments of business. Six yearly start dates and eight-week classes provide distance learners with ample flexibility.

First-year applicants must submit ACT or SAT scores. Transfer applicants may apply up to 90 credits toward the degree, which could let them graduate in under a year. EKU offers military tuition discounts and dedicated career services.


University of Central Arkansas

Conway, AR Cost: $$$$$ Graduation Rate: 41%

UCA serves about 11,000 students in over 160 academic programs, including an online bachelor's in risk management. This program operates as a degree completion pathway. Distance learners access asynchronous coursework through the Blackboard Learn platform.

Required courses include the global environment of business and managing finance and capital. Students also learn to assess risk for life, health, property, and liability insurance policies. Learners can gain hands-on experience by completing a relevant internship in their area.

UCA's risk management program boasts a high success rate — 90% of alumni find work in the industry within 30 days of graduation. Applicants with a 2.75 GPA or higher are eligible for unconditional admission.


Ohio Dominican University

Columbus, OH Cost: $$$$$ Graduation Rate: 50%

ODU offers more than 40 career-focused academic programs, including an online bachelor's degree in risk management and insurance. Graduates are prepared for careers as loss control consultants, claims managers, and compliance officers.

Classes are eight-weeks long, and distance learners have the option to take some evening courses at ODU's campus in Columbus. Coursework includes project management, operations of insurance companies, and commercial property-casualty analysis. ODU guarantees internship placements to students who complete the program's first 60 credits with a minimum 3.0 GPA

Applicants need a minimum 2.3 GPA and strong ACT or SAT scores. ODU waives standardized testing requirements for students with a minimum 2.7 GPA. The university also offers a dual-degree track that allows learners to earn a bachelor's in risk management and an MBA in five years.

What Else Can I Expect from an Online Bachelor's in Risk Management Program?

Each online bachelor's degree in risk management program has different requirements, course delivery methods, and objectives. This section explores common program features and formats.

Curriculum for an Online Bachelor's in Risk Management

Course offerings and curricula vary by program, but some concepts are integral to any online risk management degree. Most risk management programs offer the following courses:

  • Insurance Law: Students explore basic legal concepts commonly encountered by risk management coordinators. Coursework covers the interpretation and construction of insurance contracts, liability insurance for companies, and claims.
  • Macroeconomics: This course provides a broad overview of macroeconomics concepts and how they pertain to risk management activities. Topics include employment, fiscal policy, and national debt.
  • Insurance Company Operations: This course examines the operating procedures and functions of insurance companies and common regulations and industry principles.

How Long Does it Take to get an Online Bachelor's in Risk Management?

While most programs can be completed in two to four years, the length of an online bachelor's degree in risk management depends on factors such as the program's format and pacing. Transferring credits earned through previous coursework or industry experience may shorten the completion time.

Some programs are offered in an asynchronous, individually paced format, which allows students to complete coursework according to their own schedule. With few deadlines and no designated log-in times, asynchronous courses provide flexibility for busy students. Conversely, cohort-based programs are more structured; stressing collaboration and student-faculty interaction, students progress through the program together. Featuring strict deadlines and real-time participation, cohort and synchronous programs generally take longer to complete.

Accreditation for Online Bachelor's in Risk Management Degrees

Choosing an accredited program ensures a high-quality education. An accredited school operates according to the ethical and academic standards set by accrediting bodies. Institutions may be regionally or nationally accredited.

Most nationally accredited institutions are for-profit, vocational schools, while regionally accredited schools are typically nonprofit institutions such as state colleges and universities. While credits earned at regionally accredited institutions transfer easily, credits from nationally accredited schools are rarely accepted by institutions with regional accreditation. Students who plan to transfer schools or to pursue a graduate program should ensure their school is regionally accredited.

Accreditation can also affect funding opportunities. The Department of Education relies on reports from accrediting bodies to determine which institutions are eligible for federal financial aid. The Council for Higher Education Accreditation (CHEA) ensures that accrediting bodies maintain high standards. Consisting of representatives from more than 3,000 institutions, CHEA advocates for public understanding of the accreditation process and maintains a comprehensive database of accredited schools and programs.

Employment Outlook for Bachelor's in Risk Management Graduates

Job Placement for Graduates of Risk Management Bachelor's Programs

Careers in risk management offer competitive salaries and great potential for advancement, and virtually all of them require a bachelor's degree. Related positions available to professionals with an associate degree offer much lower salaries than positions requiring a bachelor's degree. The table below demonstrates the significant difference in earnings between professionals with an associate degree in business administration and those with a bachelor's degree in business management.

Bachelor's in Risk Management Salary

Salaries for professionals in risk management vary based on workplace and geographic location, but few factors influence earnings as strongly as professional experience. The following table demonstrates how work experience affects salaries for five risk management positions.

Job Title Entry-Level Salary Mid-Career Salary Late-Career Salary
Risk Manager $72,792 $88,295 $92,678
Claims Adjuster $44,966 $52,958 $66,240
Risk Management Consultant $64,852 $87,742 $110,000
Financial Manager $62,030 $73,795 $79,827
Insurance Underwriter $49,230 $57,602 $70,110

Bachelor's in Risk Management Careers

Graduates with a degree in risk management work in a variety of industries. Individuals with strong math and analytical skills excel in a wide range of positions, some of which provide opportunities for self-employment. The following careers are ideal for professionals with a background in finance and specialized knowledge gained during a risk management degree online program.


Actuaries work for insurance companies to determine the potential for financial risks and to develop policies that minimize loss. They measure probability and uncertainty using statistical research and modeling software and by applying financial theory.
Median Annual Salary: $100,610
Projected Growth Rate: 18%

Financial Manager

Primarily employed by insurance companies, organizations, and banks, financial managers assess and maintain an organization's financial health and stability. In addition to setting financial goals and strategies, they influence the development of investment plans and activities.
Median Annual Salary:$121,750
Projected Growth Rate: 7%

Personal Financial Advisor

Frequently self-employed, personal financial advisors assist organizations and insurance companies with estate planning, investment management, and insurance policies.
Median Annual Salary: $90,530
Projected Growth Rate: 30%

Insurance Underwriter

Insurance underwriters evaluate insurance applications, analyzing situational risks to determine who and what should receive coverage. They help insurance companies determine amounts and premiums.

Budget Analyst

Working in a variety of settings, budget analysts organize the finances of institutions and organizations. They monitor and analyze spending and uncertainty to create budget reports and other financial plans.
Median Annual Salary: $78,340
Projected Growth Rate: 3%

Financing Your Online Bachelor's in Risk Management Program

When choosing the best way to finance your online bachelor's degree in risk management, complete the Free Application for Federal Student Aid, or FAFSA, to determine whether you qualify for federal funding opportunities such as grants, student loans, and work-study programs. Additionally, many organizations, companies, and individuals offer merit- and need-based scholarships. Students in niche fields, including risk management, may pursue field-specific scholarship opportunities.


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