PowerPoint Slides for Professors Spring 2010 Version.
PowerPoint Slidesfor Professors
Spring 2010 Version
This file as well as all other PowerPoint files for the book, “Risk Management and Insurance: Perspectives in a Global Economy” authored by Skipper and Kwon and published by Blackwell (2007), has been created solely for classes where the book is used as a text. Use or reproduction of the file for any other purposes, known or to be known, is prohibited without prior written permission by the authors.
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W. Jean Kwon, Ph.D., CPCUSchool of Risk Management, St. John’s University101 Murray StreetNew York, NY 10007, USA
Phone: +1 (212) 277-5196E-mail: [email protected]
Risk Management and Insurance: Perspectives in a Global Economy 19. The Economic Foundations of Insurance
There are two sections (Insurance Legal Principles; Insurance Contract Structure).
Both are derived from Appendix Chapter 2.
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Discussion in page 482
Discussion in page 485-486
Medical Exam Required
Those Who Pass Gets the Coverage for $2,000 of yearly premium.
Those Who Fail Gets the Coverage for $4,000 of yearly premium.
Discussion continues from Chapter 2
Personal Umbrella Liability Insurance
Bailment – Temporary change in possession of property but with no change in ownership
Utmost Good faith
When "material" misrepresentation
or concealment is found...,
The contract becomes
Insight A2-4Automobile Liability Insurance Limits
Cancellation differs from voiding (avoiding)a contract or void contract.