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Department of Risk Management and Insurance, formerly known as Department of Banking and Insurance(1957-1990) and Department of Insurance(1991-1999), was established in 1957. From 1957 to 1990, its goal was to train more professionals in banking and insurance in order to satisfy the growing needs of the national financial services industry. In 1990 the Department of Banking and Insurance was divided into the Department of Insurance and Department of Financial Management. In 2001 the former Department of Insurance was renamed the Department of Risk Management and Insurance, focusing on corporate risk management and personal financial planning education.

To date, the Department has grown into one of the largest departments of its kind in Taiwan with around 1,000 students and is recognized as one of the country's leading providers of risk management and insurance education.

The Department of Risk Management and Insurance strives for academic excellence through theory-based risk management education and advancement of practical risk manager training, preparing the department's students with total risk manager's professionalism, a sense of responsibility, high professional ethic standards, team spirit and global worldview to serve national and international risk management and insurance communities.