ce risk management tools?

Q: Explain and give examples of the following risk Management techniques a. Retention b. Self insurance…

A: Note: I am supposed to provide the solution of first three subparts. Please repost the remaining…

Q: For automobile insurance, Describe how risk can be managed. Evaluate the risks in society.…

A: Automobile Insurance: When you get auto insurance, you enter into a contract with the insurance…

Q: Describe what is the assumed liability?

A: An assumed liability is an obligation under the terms of the agreement assumed by a party. Insurance…

Q: It pertains to a risk management technique when acquiring a life insurance. * risk avoidance risk…

A: One of the risk management technique is Risk Transfer where one party transfer the risk to another.…

Q: How does Life and Non Life Insurance can save or protect the assets of its policy holders? Cite at…

A: Life Insurance and Non-Life Insurance are the policies provided to the policyholders for protecting…

Q: Describe the Comprehensive General Liability Insurance?

A: Answer: Comprehensive general liability insurance is an old concept for general liability insurance,…

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

Q: Types of risk confronting personal property and liability risk

A: In financial terms, risk used to referred to the uncertain event and also the potential financial…

Q: Explain Default Insurance?

A: Insurance is defined as a type of protection is a lawful understanding between two parties for…

Q: What is life insurance company?

A: Life insurance: Life insurance is an agreement among an insurance corporation (insurer) and an…

Q: ain ONE key financial risk that an insurance company is exposed to. Explain the policies and…

A: Basic Concept of Insurance Financial risk in insurance and Mitigation

Q: Which is not an essential characteristic of an insurance contract? A. transfer of significant risk…

A: Answer is A. transfer of significant risk from the issuer to the policyholder Explanation is given…

Q: Define the term prepaid insurance.

A: Prepaid expenses: Advance payment for future expenses is called as prepaid expenses. These prepaid…

Q: risk" factor

A: Risk is a term that shows the possibility of injury or loss to the health, business, vehicle, etc.…

Q: Describe how the insurance company's solvency and management status are evaluated.

A: The term insurance company is used to describe a company that writes insurance policies, pays…

Q: Which of the following is a type of captive formed to write most types of liability insurance…

A: A captive insurance firm is a special arrangement for insurance, which is a subsidiary insurer to…

Q: IDENTIFICATION: What area of insurance companies is faced with the risk that estimates of loss…

A: Insurance risk management is referred as an assessment as well as quantification of the financial…

Q: Differentiate between the contract and concept of Takaful and Conventional Insurance

A: Insurance refers to the contract in which the insurer provides the risk protection facility to the…

Q: Can both moral hazard and adverse selection occur in the insurance market s the difference between…

A: The insurance industry is an important part of the overall financial industry. Insurance is bought…

Q: Who are front-line underwriters? What are premium volume and loss experience with the insurer? What…

A: Underwriters are the person who sell theshares on behalf of the firm. They are very useful for the…

Q: what is life insurance

A: Life insurance in the insurance of risk done by the policy holder that pays the amount to the policy…

Q: What type of information is entered for insurance and why is insurance important?

A: Insurance is a way to protect oneself from financial loss. It is a type of risk management that is…

Q: what is one example of a risk management strategy used by insurance companies to mitigate…

A: An underwriter's potential loss is known as underwriting risk. Underwriting risk in insurance can…

Q: Define Hazard Insurance?

A: Hazard insurance: Hazard insurance is designed to  coverages. Generally it covered against…

Q: How does insurance commission assures the investing public on the safety of the insurance products…

A: Insurance Commission is an amount paid to the broker or agent of insurance products for selling the…

Q: What are the differences between an insurance agent and an insurance broker? Discuss.

A: Insurance brokers are individuals that sells, buy or negotiate variety of financial products that…

Q: why is it important for insurance companies to manage underwriting risk?

A: in contract of insurance there is a guarantee by insurance that it will pay the damage or loss .…

Q: Policy reserves for life insurers are the loss reserves equivalent of P&C insurers. True False

A: The question is related to Reserve in an insurance policy. Policy reserve in life insurance is a…

Q: dicuss undertaking in insurance

A: Insurance refers to a contract in the form of a policy between the insurance holders and insurance…

Q: What is participating in insurer management? What is treaty reinsurance? What is facultative…

A: Participating Policy: When a policyholder receives a dividend, such types of an insurance contract…

Q: Which of the following sections of a commercial general liability policy contains information about…

A: Insurance is the process through which an individual or corporation is provided financial coverage…

Q: 2) Explain why offer and acceptance is essential to the formation of a binding insurance contract?

A: An insurance contract is a legally binding agreement between the insurer and the insured. It is a…

Q: Define this following terms: Environmental Risks, liability risks, insurable risks, self insurance

A: Self-insurance: The act of setting aside or creating funds to meet unexpected incomes and overcome…

Q: Do risk influence people to go for insurance? What is the relationship between risk and insurance?

A: Yes, risk influences people to go for insurance. Several kinds of risks influence a person to get…

Q: Why do we need FDIC insurance?

A: Insurance companies and agencies adopt financial strategies to manage various types of risks.…