Introduction to Risk Management and Insurance, 7E - Dorfman. Chapter 1: Fundamentals and Terminology. OVERVIEW OF COURSE. INSURANCE AND RISK MANAGEMENT. TERMINOLOGY. PRINCIPLES. COMPANIES (MACRO). COMPANIES OCCUPATIONS. CONSUMERS Government. CONTRACTS & PERSONAL INSURANCE.
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Introduction to Risk Management and Insurance, 7E - Dorfman
Fundamentals and Terminology
CONTRACTS & PERSONAL INSURANCE
COMMERCIAL INS. & ADVANCED RISK MANAGEMENT
1) Financial intermediation
2) Contractual relationship
1) To describe that there is a possibility of loss
2) To identify the probability of loss
3) To identify the cause of loss - peril
4) To identify conditions that increase frequency of severity of loss - hazard
5) To identify the property or person exposed
6) To identify the potential $ amount of loss
7) To describe the variation in potential losses – the ability to predict