This comprehensive textbook on insurance management is now in its 5th revised and updated edition. Once again, insurance companies are understood as "producers" of insurance business, and all related decisions and business functions are examined in detail. The revision addresses changes in the legal framework for insurers and their operations, particularly in supervisory law, insurance contract law, and insurance brokerage law, as well as changes in actual events within the insurance industry. Notably, newer theoretical approaches regarding the risk situation of insurance companies stemming from their insurance and investment activities are taken into account. The consequences of the financial market crisis for risk management and further preparations are also discussed.