Principles of Risk Management and Insurance, Global Editon
Lýsing:
For undergraduate courses in risk managementand insurance. Principles and practices: Managing risk withconsumer considerations Redja’s Principles of RiskManagement and Insurance provides an in-depth examination of majorrisk themes. Using rich and up-to-date content on the basic concepts of riskand insurance, and introductory and advanced topics in traditional andenterprise risk management, the text is relevant to a wide number ofdisciplines in the business realm.
Fully updated and revised, the 14thEdition covers global topics ranging from natural disasters andterrorism, to domestic issues like the ever-evolving Affordable CareAct and healthcare reform. Principles sets itselfapart by placing primary emphasis on insurance consumers and blends basic riskmanagement and insurance principles with consumer considerations, allowingstudents to apply basic concepts to their own personal risk management andinsurance programs.
Annað
- Höfundar: George E. Rejda, Michael McNamara
- Útgáfa:14
- Útgáfudagur: 2021-04-30
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- Format:Page Fidelity
- ISBN 13: 9781292349763
- Print ISBN: 9781292349749
- ISBN 10: 129234976X
Efnisyfirlit
- Half Title
- The Pearson Series in Finance
- Title Page
- Copyright
- Contents
- Preface
- About the Authors
- Chapter 1: Risk and Its Treatment
- Definitions of Risk
- Chance of Loss
- Peril and Hazard
- Classification of Risk
- Major Personal Risks and Commercial Risks
- Burden of Risk on Society
- Techniques for Managing Risk
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 1.1: What Are Your Chances of Not Being Able to Earn an Income? Calculate Your Personal Disa
- Insight 1.2: Careers in Risk Management and Insurance
- Chapter 2: Insurance and Risk
- Definition of Insurance
- Basic Characteristics of Insurance
- Law of Large Numbers
- Characteristics of an Ideally Insurable Risk
- Two Applications: The Risks of Fire and Unemployment
- Adverse Selection and Insurance
- Insurance and Gambling Compared
- Insurance and Hedging Compared
- Types of Insurance
- Benefits of Insurance to Society
- Costs of Insurance to Society
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 2.1: Insurance frauds: Myths versus reality
- Insight 2.2: Examples of Insurance Fraud—Hall of Shame
- Appendix: Basic Statistics and the Law of Large Numbers
- Probability and Statistics
- Law of Large Numbers
- Notes
- Chapter 3: Introduction to Risk Management
- Meaning of Risk Management
- Objectives of Risk Management
- Steps in the Risk Management Process
- Benefits of Risk Management
- Personal Risk Management
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 3.1: Bermuda Leads Global Captive Domiciles
- Insight 3.2: When You Should Self-Insure?
- Chapter 4: Enterprise Risk Management
- Enterprise Risk Management
- Benefits of Enterprise Risk Management Programs
- Insurance Market Dynamics
- Loss Forecasting
- Financial Analysis in Risk Management Decision Making
- Other Risk Management Tools
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 4.1: Weather Futures and Options: Financial Tools That Provide a Means of Transferring Risk
- Chapter 5: Types of Insurers and Marketing Systems
- Overview of Private Insurance in the Financial Services Industry
- Types of Private Insurers
- Agents and Brokers
- Types of Marketing Systems
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 5.1: Show Me the Money—How Much Can I Earn as an Insurance Sales Agent?
- Chapter 6: Insurance Company Operations
- Insurance Company Operations
- Rating and Rate Making
- Underwriting
- Production
- Claims Settlement
- Reinsurance
- Investments
- Other Insurance Company Functions
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 6.1: Home Owner's Failure to Cooperate Yields Denied Claim
- Insight 6.2: Insurance 4.0—Digitalization of Insurance Operations
- Chapter 7: Financial Operations of Insurers
- Property and Casualty Insurers
- Life Insurance Companies
- Rate Making In Property and Casualty Insurance
- Rate Making in Life Insurance
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 7.1: How Profitable Is the Property and Casualty Insurance Industry?
- Chapter 8: Government Regulation of Insurance
- Reasons for Insurance Regulation
- Historical Development of Insurance Regulation
- Methods For Regulating Insurers
- What Areas are Regulated?
- State Versus Federal Regulation
- Current Issues in Insurance Regulation
- Insolvency of Insurers
- Market Conduct Regulation
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 8.1: The Pros and Cons of Credit-Based Insurance Scores
- Chapter 9: Fundamental Legal Principles
- Principle of Indemnity
- Principle of Insurable Interest
- Principle of Subrogation
- Principle of Utmost Good Faith
- Requirements of an Insurance Contract
- Distinct Legal Characteristics of Insurance Contracts
- Law and the Insurance Agent
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 9.1: Corporation Lacking Insurable Interest at Time of Death Can Receive Life Insurance Proc
- Insight 9.2: Auto Insurer Denies Coverage Because of Material Misrepresentation
- Insight 9.3: Insurer Voids Coverage Because of Misrepresentations in Proof of Loss
- Chapter 10: Analysis of Insurance Contracts
- Basic Parts of an Insurance Contract
- Definition of "Insured"
- Endorsements and Riders
- Deductibles
- Coinsurance
- Coinsurance in Health Insurance
- Other-Insurance Provisions
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Note
- Case Application
- Insight 10.1: Will Your Auto Insurance Cover You When You Drive Another Person's Car?
- Chapter 11: Life Insurance
- Premature Death
- Financial Impact of Premature Death on Different Types of Families
- Amount of Life Insurance to Own
- Types of Life Insurance
- Variations of Whole Life Insurance
- Other Types of Life Insurance
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 11.1: Cash-Value Life Insurance as an Investment—Don't Ignore Two Points
- Insight 11.2: Be a Savvy Consumer—Four Life Insurance Policies to Avoid
- Chapter 12: Life Insurance Contractual Provisions
- Life Insurance Contractual Provisions
- Dividend Options
- Nonforfeiture Options
- Settlement Options
- Additional Life Insurance Benefits
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 12.1: Is This Death a Suicide?
- Insight 12.2: Selection of the Best Dividend Option in a Participating Whole Life Policy
- Insight 12.3: Accelerated Death Benefits: A Real-Life Example
- Insight 12.4: What Is a Life Settlement? Examples of Actual Cases
- Chapter 13: Buying Life Insurance
- Determining the Cost of Life Insurance
- Rate of Return on Saving Component
- Taxation of Life Insurance
- Shopping for Life Insurance
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 13.1: Be Careful in Replacing an Existing Life Insurance Policy
- Appendix: Calculation of Life Insurance Premiums
- Net Single Premium
- Net Annual Level Premium
- Gross Premium
- Policy Reserves
- Case Application
- Key Concepts and Terms
- Notes
- Chapter 14: Annuities and Individual Retirement Accounts
- Individual Annuities
- Types of Annuities
- Taxation of Individual Annuities
- Individual Retirement Accounts
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application 1
- Case Application 2
- Insight 14.1: Advantages of an Immediate Annuity to Retired Workers
- Insight 14.2: Optional Variable Annuity Benefits To Meet Specific Needs
- Insight 14.3: Ten Questions to Answer Before You Buy a Variable Annuity
- Chapter 15: Individual Health Insurance Coverages
- Defects in the Healthcare System in the United States
- Basic Provisions of the Affordable Care Act
- Individual Medical Expense Insurance
- Managed Care Plans
- Health Savings Accounts
- Long-Term Care Insurance
- Disability-Income Insurance
- Individual Health Insurance Contractual Provisions
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 15.1: Health Insurance Options for College Students under the Affordable Care Act
- Chapter 16: Employee Benefits: Group Life and Health Insurance
- Meaning of Employee Benefits
- Fundamentals of Group Insurance
- Group Life Insurance
- Group Medical Expense Insurance
- Managed Care Plans
- Affordable Care Act and Group Medical Expense Insurance
- Key Features of Group Medical Expense Insurance
- High-Deductible Health Plan With Savings Option
- Recent Developments in Employer-Sponsored Health Plans
- Group Medical Expense Contractual Provisions
- Group Dental Insurance
- Group Disability-Income Insurance
- Cafeteria Plans
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 16.1: History of Health Maintenance Organization
- Insight 16.2: Basic Characteristics of the Small Business Health Options Program (SHOP)
- Chapter 17: Employee Benefits: Retirement Plans
- Fundamentals of Private Retirement Plans
- Types of Qualified Retirement Plans
- Defined-Benefit Plans
- Defined-Contribution Plans
- Section 401(K) Plan
- Section 403(B) Plan
- Simplified Employee Pension (SEP)
- Simple Ira Plan
- Profit-Sharing Plans
- Saver's Credit
- Retirement Plan Security
- Funding Agency and Funding Instruments
- Problems and Issues In Qualified Retirement Plans
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 17.1: Six Common 401(k) Mistakes
- Chapter 18: Social Insurance
- Social Insurance Programs
- Old-Age, Survivors, and Disability Insurance (OASDI)
- Types of Benefits
- Medicare
- Problems and Issues
- Unemployment Insurance
- Workers' Compensation
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 18.1: Postponing Social Security Benefits—Key Factors to Consider
- Insight 18.2: Try Your Hand at Social Security Reform
- Chapter 19: The Liability Risk
- Basis of Legal Liability
- The Law of Negligence
- Imputed Negligence
- Res Ipsa Loquitur
- Specific Applications of the Law of Negligence
- Current Tort Liability Problems
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 19.1: Judicial Hellholes 2017–2018
- Chapter 20: Auto Insurance
- Overview of Personal Auto Policy
- Part A: Liability Coverage
- Part B: Medical Payments Coverage
- Part C: Uninsured Motorists Coverage
- Part D: Coverage For Damage to Your Auto
- Part E: Duties After an Accident or Loss
- Part F: General Provisions
- Insuring Motorcycles and Other Vehicles
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 20.1: Private Passenger Auto Insurance Remains Unprofitable for Many Insurers
- Insight 20.2: In 5 States, 20% or More of Drivers Have No Insurance; Countrywide Average Increases
- Insight 20.3: The Four Types of Rental Car Insurance, Explained
- Chapter 21: Auto Insurance (Continued)
- Approaches for Compensating Auto Accident Victims
- Auto Insurance for High-Risk Drivers
- Cost of Auto Insurance
- Shopping for Auto Insurance
- Auto Insurance Emerging Issues
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 21.1: Filing an Auto Claim with the Other Party's Insurance Company
- Insight 21.2: Protect Yourself: Insuring Your Teen Driver
- Insight 21.3: Distracted Driving
- Chapter 22: Homeowners Insurance, Section I
- Overview of Homeowners Insurance
- The Homeowners 3 Policy: Persons Insured
- The Homeowner 3 Policy: Section I Coverages
- The Homeowners 3 Policy: Section I Perils Insured Against
- The Homeowners 3 Policy: Section I Exclusions
- The Homeowners 3 Policy: Section I Conditions
- The Homeowners 3 Policy: Section I and II Conditions
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 22.1: Your Renters Insurance Guide: What to Look for When Shopping for Renters Insurance
- Insight 22.2: How to Create a Home Inventory
- Insight 22.3: The Big Gap between Replacement Cost and Actual Cash Value Can Empty Your Wallet
- Chapter 23: Homeowners Insurance, Section II
- Personal Liability Insurance and Medical Payments to Others Coverage
- Section II Exclusions
- Section II Additional Coverages
- Section II Conditions
- Endorsements to a Homeowners Policy
- Cost of Homeowners Insurance
- Suggestions for Buying a Homeowners Policy
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 23.1: Dog Bites Hurt, So Do Lawsuits
- Insight 23.2: Five Insurance Mistakes to Avoid . . . (and Still Save Money)
- Chapter 24: Other Property and Liability Insurance Coverages
- ISO Dwelling Program
- Mobile Home Insurance
- Inland Marine Floaters
- Watercraft Insurance
- Government Property Insurance Programs
- Title Insurance
- Personal Umbrella Policy
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 24.1: Dispelling Myths about Flood Insurance
- Insight 24.2: The Vitals on Title Insurance
- Insight 24.3: 10 Real Examples of Umbrella Insurance Claims
- Chapter 25: Commercial Property Insurance
- Commercial Package Policy
- Building and Personal Property Coverage Form
- Reporting Forms
- Business Income Insurance
- Other Commercial Property Coverages
- Transportation Insurance
- Businessowners Policy (BOP)
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 25.1: Examples of Equipment Breakdown Claims: Recent Paid Claims
- Chapter 26: Commercial Liability Insurance
- General Liability Loss Exposures
- Commercial General Liability Policy
- Employment Practices Liability Insurance
- Workers Compensation Insurance
- Commercial Auto Insurance
- Aircraft Insurance
- Commercial Umbrella Policy
- Cyber Liability Insurance
- Businessowners Policy
- Professional Liability Insurance
- Directors and Officers Liability Insurance
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 26.1: General Liability Lawsuit Examples
- Insight 26.2: Beyond Prevention: Workers Compensation Insurance
- Insight 26.3: 10 Most Common and Costliest Small Business Claims
- Chapter 27: Crime Insurance and Surety Bonds
- The ISO Commercial Crime Insurance Program
- Commercial Crime Coverage Form (Loss-Sustained Form)
- Financial Institution Bonds
- Surety Bonds
- Summary
- Key Concepts and Terms
- Review Questions
- Application Questions
- Internet Resources
- Selected References
- Notes
- Case Application
- Insight 27.1: Crime Prevention Tips for Small Businesses
- Insight 27.2: ISO's Crime Changes: Keeping Pace with our Digital World
- Appendix A: Personal Auto Policy
- Appendix B: Homeowners 3 (Special Form)
- Glossary
- Index
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- Gerð : 208
- Höfundur : 9692
- Útgáfuár : 2017
- Leyfi : 380