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?
Answer to relevant QuestionsWhy do insurance brokerage mergers and acquisitions have a greater influence on corporate risk managers than do property and casualty insurance company mergers and acquisitions?How does securitization of risk increase capacity in the property and casualty insurance industry?a. What is a risk management information system (RMIS)?b. What is a risk management intranet?a. Describe the basic features of mutual insurers.b. Identify the major types of mutual insurers.Felix is a property claims adjustor for a large property insurer. Janet is a policyholder who recently notified the company that the roof of her home incurred substantial damage because of a recent hail storm. Janet owns her ...
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