Identify the approaches that insurers can use to deal with the problem of catastrophic loss exposures.
Answer to relevant QuestionsWhy are most market risks, financial risks, production risks, and political risks considered difficult to insure by private insurers?The Swift Corporation has 5000 sales representatives and employees in the United States who drive company cars. The company's risk manager has recommended to the firm's management that the company should implement a partial ...a. Explain the meaning of risk financing.b. Explain the following risk-financing techniques.1. Retention2. Noninsurance transfers3. Insurancea. What would be the effect of ignoring the time value of money when making risk management decisions?b. What does the net present value of a loss control investment really represent to the owners of the organization?What is the danger of simply using past losses to estimate future losses?
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