Master of Science in Risk Management and Insurance (MS-RMI)

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  Deadline to Apply!

Begin your application today by entering the Graduate Admissions Portal. Submit your application by:

October 1 for spring entry. 

March 1 for summer entry.

June 1 for fall entry.

  Contact Us

Email Searra Lippard, academic program specialist, for more information about the admissions process.

Meet Dr. Cassandra Cole, MS-RMI program director.

Graduate Programs Office
  877-587-5540 (toll free)




Learn to assess risk and maximize reward.

Today's insurance professionals must possess a variety of skills to make informed business decisions and may face difficult financial, ethical, legal and global concerns. The Master of Science in Risk Management and Insurance (MS-RMI) at Florida State University’s College of Business further develops a student’s ability to analyze these issues from different perspectives, fosters critical thinking and enhances the discipline needed in today’s risk management and insurance market. Housed in the Dr. William T. Hold/The National Alliance Program in Risk Management and Insurance, this fully online degree program equips professionals to shape an industry that evolves with the world around it.


Reasons to Choose FSU

  • Recognized as one of the nation’s oldest and largest insurance programs
  • Ranked among top programs nationwide by U.S. News & World Report
  • Online courses taught by outstanding full-time faculty, including an eminent scholar and endowed professors
  • Faculty known for enthusiastic teaching, notable research and consulting expertise
  • Alumni include leading risk managers, insurance industry executives, agents and brokers
  • Eligibility to receive several state licenses in Florida without sitting for the exams


Personal Benefits

  • Pursue a quality Master of Science degree at your convenience
  • Complete your degree in less than 2 years
  • Network and connect with classmates worldwide
  • Thrive in program designed for the working professional
  • Obtain course waivers or credit for multiple insurance designations

Highly qualified FSU undergraduates majoring in RMI can get a jumpstart on graduate coursework by applying for our Combined Bachelor of Science in Risk Management/Insurance/Master of Science in Risk Management and Insurance (BS/MS-RMI) Pathway before registering for senior coursework. Interested students should meet with a Combined Pathway AdvisorCombined pathway students do not have to start their master’s degree immediately after completing their undergraduate work. Learn more at

  Admission Guidelines

Admission to the Master of Science in Risk Management and Insurance program is highly competitive. The decision is based on a portfolio of qualifications, including prior academic experience, work experience, optional entrance exam scores (such as GMAT or GRE) and letters of recommendation. Entrance exam scores are optional for this program and can be submitted if they will enhance an application. Any submitted test scores become part of the application and are used in the admission decision.

  Application Process

The following items should be submitted through the Florida State Graduate Application portal, available exclusively online at

  • Applicant Statement/Essay Question Responses
  • An up-to-date resume, clearly indicating work experience including dates and positions held, as well as noting full-time or part-time employment
  • A minimum of one (1) letter of recommendation from your current supervisor is required, however at least two (2) recommendations are preferred
  • Florida Residency Declaration if applicable
  • Nonrefundable application fee of $30.00 (see University Application or go to )

The following items should be sent to the Graduate Admissions Office, 222 S. Copeland St./314 Westcott Building, Florida State University, Tallahassee, FL 32306-1410 or to

  • One (1) official transcript from all colleges and universities attended (FSU transcripts are not necessary for FSU alumni, students). International applicants are required to submit an official NACES course-by-course transcript evaluation.
  • Official test scores, if applicable:
    • GMAT or GRE scores are optional and should be submitted if they will enhance the application. Any submitted test scores become part of the application. The code to send GMAT scores to Florida State is PN8K567, and the code to send GRE scores is 5219.


International applicants should visit  for information concerning financial responsibilities, degree equivalency, etc. International applicants are responsible for submitting the below documents in addition to the checklist items in the previous section.

English Language Proficiency Exam
International applicants whose native language is not English and who have not completed an undergraduate or graduate degree in an English-speaking country are required to take an English Language Proficiency exam and submit official test results in order to be admitted to Florida State University. The College of Business accepts all of the following examinations taken within the past two (2) years:

  • Test of English as a Foreign Language (TOEFL): a minimum score of 600 on the paper-based test and 100 on the internet-based test (FSU institution code 5219)
  • International English Language Testing System (Academic IELTS): minimum score of 7
  • Pearson Test of English (PTE): minimum score of 66
  • Duolingo: minimum score of 120
  •  Cambridge C1 Advanced Level: minimum score of 180
  • Michigan Language Assessment: minimum score of 55

Transcript Evaluation Requirement 
The Office of Graduate Admissions requires all international students to submit an official course-by-course evaluation of all academic records from non-U.S. institutions prior to application review. (This verifies degree equivalency and serves in place of additional official or unofficial transcripts.) This evaluation must be done by a member of the National Association of Credential Evaluation Services (NACES): FSU now offers a partnership with SpanTran, our preferred credential evaluation service, which allows a streamlined process at a discounted rate. More information about this process is available after you submit the first part of your graduate application. 

  Program Costs


All students pay the same market rate of $600.00 per credit hour regardless of residence.  In addition, students will be responsible for applicable fees per credit hour as listed below:

  • Florida Residents: $600 per credit hour (market rate); $30.18 per credit hour (fee). Total program cost is $630.18 per credit hour for 33 credit hours: $20,795.94.
  • Non-Florida Residents: $600 per credit hour (market rate); $60.24 per credit hour (fee). Total program cost is $660.24 per credit hour for 33 credit hours: $21,787.92.

Note: these costs do not include required books and supplies for courses. Costs are subject to change.


There are a variety of funding options, including student loans and scholarships available through the College of Business, the RMI program, and outside resources. All newly admitted students are considered for available scholarships. A select number of current and prospective students are also selected each year to receive the Dr. William T. Hold Scholarship. You may view a full list of College of Business scholarship opportunities at

Please note that students must be enrolled in at least six (6) credit hours in order to be eligible for federal loans through FAFSA. Please visit Florida State's financial aid website for more information. Student Business Services also offers payment plans. You may learn more information here

Learn more about why our graduate programs are considered A Smart Choice in Value.

  Hold Scholarships

The Dr. William T. Hold Scholarship Program is open to current and prospective students. Prospective students are automatically considered once they are accepted into the Master of Science in Risk Management and Insurance Program and indicate their intent to enroll.

The Dr. William T. Hold Scholarship Program was created in 2012 following a generous donation from Dr. William T. Hold and The National Alliance for Insurance Education and Research. The program provides financial support to College of Business students pursuing a Master of Science in Risk Management and Insurance (MS-RMI). The recipients of these scholarships, known as Hold Scholars, include industry professionals with varied experiences and backgrounds. Past Hold Scholars continue to engage with the program and serve as guest speakers and presenters, as well as assist in the placement of current undergraduate and graduate students. Read more at

For additional information on this and other scholarship opportunities for graduate students, visit

  Courses and Schedule


RMI 5007 Insurance Fundamentals
Develops concepts such as time value of money, statistical analysis, information technology, and management of risk exposure.  Topics include the fundamentals of risk, management of risks, insurer operations, and the regulation of insurance.


BUL 5810 The Legal and Ethical Environment of Business
Creates an awareness of the laws and the legal, political, and social institutions which impact upon business activity. The course emphasizes public law, governmental regulation, ethics and corporate governance. Landmark legislation and judicial decisions will be examined.

RMI 5745 Healthcare Financing
An introduction to public and private health insurance and benefits plans. Students will learn about private insurance plans and federal and state financing programs (e.g., Medicare Medicaid/SCHIP, FEHBP). The course will cover forms of employer-sponsored coverage, including self-funded and fully insured, managed care plans, and understanding the implications of private vs. public forms of insurance coverage. Topics include payer and provider incentives for cost management, access to care, health plan strategies, regulatory and legal considerations pertaining to eligibility and coverage, the use of cost-containment mechanisms, case management, and quality and accountability.


RMI 5710 Insurance Company Operations
Covers the fundamentals of risk, the management of pure risk, insurance mechanisms, insurer operations and the evolution of risk management. Additional focus will be giving the market trends, regulation, and new trends in risk financing.

RMI 5257 Data Analytics in Risk Management and Insurance
This course focuses on the use of data and analytical tools in the insurance industry. A set of tools is developed for analyzing the types of data used by insurers across various functions including loss estimation, loss reserving, underwriting, and claims. Topics will include exploring traditional and new sources of data, legal and ethical considerations, and challenges associated with forecasting and making inferences in the context of risk and uncertainty.


RMI 5136 Employee Benefits
Managerial approach to employee benefit plans such as group insurance and pensions with in-depth consideration given to funding instruments and variety among plans.

RMI 5720 Insurance Accounting & Finance
A survey of accounting and finance, financial statement analysis, and statutory requirements for insurance companies. The course also includes important elements of finance such as coverage of present value and incorporating coverage of expected values and expected rates of return for both individual securities and portfolios of securities. (Prereq: RMI 5710)


MAN 5716 Business Conditions Analysis
A combination of statistics and managerial economics designed to illustrate statistical methods and techniques by applying them to basic managerial issues using elementary calculus and basic statistical programs (Excel and SAS) for regressions, testing hypotheses, and applying other statistical methods to important issues in managerial economics. Also, problems of managing the firm in relation to the changing economic environment; analysis of major business fluctuations and development of forecasting techniques.

RMI 5810 Personal Financial Planning
Focus on individual/family financial planning including risk analysis, wealth accumulation, and retirement planning. Analysis of loss exposures facing individuals & families; basic personal-lines property-liability insurance (auto & homeowners); individual life, health & disability insurance as well as information on savings models, credit management, real estate, and longevity risk.


RMI 5018 Alternative Risk Financing
Evaluates how corporations and insurance companies finance risk. It covers the basic financial tools that are used in risk financing, the traditional and alternative risk financing techniques corporations use, and the unique risk financing techniques used by insurance companies.

RMI 5345 Risk Management in the Business Enterprise
Application of the risk management process, including risk control and risk financing techniques, to business risk management problems. Includes a focus on enterprise risk management and the related tool and techniques. 


For more information, download our MS-RMI brochure.