a. Explain the meaning of risk control. b. Explain the following risk-control techniques. 1. Avoidance 2. Loss

Question:

a. Explain the meaning of risk control.
b. Explain the following risk-control techniques.
1. Avoidance
2. Loss prevention
3. Loss reduction

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles of Risk Management and Insurance

ISBN: 978-0132992916

12th edition

Authors: George E. Rejda, Michael McNamara

See More Books

Question Posted: Jan 30, 2015 07:38 AM

See More Questions

Explain the meaning of investment risk of loss and describe how risk can be defined relative to an average value.
Explain the meaning of (a) Differential revenue, (b) Differential cost, and (c) Differential income.
Explain the meaning of the terms push manufacturing and pull manufacturing.
1. Suppose that a particle moves along a straight line with acceleration a(t) =-6t+2 meters per second per second at time t seconds. Suppose that we fix the positive direction as motion to the right,...
At what rate of interest will $1387 earn $63.84 in 200 days?
An article in Psychology and Marketing describes four variables that have been found to impact the effectiveness of commercials for high-performance automobiles: sincerity, excitement, ruggedness,...
Discuss why a nurse is not only a nurse, but also a patient advocate.
The Health Care Cost Institute tracks health care expenditures for beneficiaries under the age of 65 who are covered by employer-sponsored private health insurance (Health Care Cost Institute...
The universe either will simply exist as it is or end in a heat death. If there was no big bang then the universe simply existed. If and only if the universe is expanding then there was a big bang....
What determines the capital-labor ratio in the production of each commodity in both nations? Which of the two nations would you expect to use a higher capital-labor ratio in the production of both...
a. Identify the sources of information that a risk manager can use to identify loss exposures. b. What is the difference between the maximum possible loss and probable maximum loss?
a. Explain the meaning of risk financing. b. Explain the following risk-financing techniques. 1. Retention 2. Noninsurance transfers 3. Insurance
In Exercises 104106, express each interval in set-builder notation and graph the interval on a number line. (-2,00)
What are the advantages and disadvantages of writing a BAM object class in an object - oriented language like C ++ ?
You are the CEO of a company that has to choose between making a $100 million investment in Russia or Poland. Both investments promise the same long-run return, so your choice is driven by risk...
How would you test the validity and integrity of factory parameters stored in EEPROM? Sketch a suitable procedure for that purpose.
List the benefits an Israeli firm can have by listing its stock on the NASDAQ stock exchange in the United States, in addition to a listing on the local Israeli exchange. Can you see any drawbacks to...
The safe minimum standard (SMS) is a special case of the mainstream economics conception of sustainability. Can you present an argument that attempts to validate this statement?
Test the series for convergence or divergence. D(-1)" n=1 3n - 1 2n + 1
Stephen Schor, an accountant in New York City, advised his client, Andre Romanelli, Inc., to open an account at J. P. Morgan Chase Bank, N.A., to obtain a favorable interest rate on a line of credit....
In the 30 June 2023 annual report of Emu Ltd, the equipment was reported as follows: The equipment consisted of two machines, Machine A and Machine B. Machine A had cost $\$ 75000$ and had a...
a. Explain the basic characteristics of social insurance programs. b. Identify the major social insurance programs in the United States.
Pure risks ideally should have certain characteristics to be insurable by private insurers. List the six characteristics of an ideally insurable risk.
Identify the approaches that insurers can use to deal with the problem of catastrophic loss exposures.
Exploring Variable Length Parameter Lists The file Parameters.java contains a program to test the variable length method average from Section 7.5 of the text. Note that average must be a static...
How would I write a test case for the following steps so that the test cases run properly @Test void dequeueItemsHasRightValuesAndSize() { Queue testQ = new Queue (); int result; enqueueValues(testQ,...
Analyse the quality of the Java codes below public static boolean leap(int y) { String tmp = String.valueOf(y); if (tmp.charAt(2) == '1' || tmp.charAt(2) == '3' || tmp.charAt(2) == 5 || tmp.charAt(2)...

a. Explain the meaning of risk control. b. Explain the following risk-control techniques. 1. Avoidance 2. Loss

Question:

Step by Step Answer:

a Risk control refers to techniques that reduce the frequency and severity of accidental losses Spec...View the full answer

Principles of Risk Management and Insurance

Students also viewed these Corporate Finance questions