Principles of Risk Management and Insurance, 13th Edition

Application Questions

1. Integrated risk management programs are new to many risk managers and the insurance companies that offer such programs. What additional expertise, aside from knowledge of property and casualty insurance, must an insurance company possess to offer integrated risk management products?

2. A risk manager self-insured a property risk for one year. The following year, even though no losses had occurred, the risk manager purchased property insurance to address the risk. What is the best explanation for the change in how the risk was handled, even though no losses had occurred?

3. How do insurance company mergers and insurance brokerage mergers impact the practice of risk management?

4. 1. What would be the effect of ignoring the time value ...