Fundamentals Of Risk And Insurance

Accompanying CD-ROM contains sample policy forms, in an Acrobat format. cf. p. vii.

The Sixth Edition focuses on the insurance product and its use within a risk management framework. Legal changes, revisions in policy forms and new insurance contracts are covered along with the concept of risk, the nature of the insurance device and the principles of risk management. The appendices contain specimen copies of most major types of policies.

This classic, comprehensive book is divided into three sections. The first section examines the concept of risk, the nature of the insurance device, and the principles of risk management. This section also provides an overview of the insurance industry. The second section examines the traditional fields of life and health insurance as solutions to the risks connected with the loss of income. The Social Security system, workers compensation, and other social insurance coverages are discussed. The final section deals with the risks associated with the ownership of property and legal liability. Updated to reflect the changes in the field of insurance since 1996, and a listing of Web sites of interest.

This consumer-oriented textbook addresses the principles of risk management without skimping on the discussion of insurance. It summarizes the nature of pure risk on the individual and on society and illustrates how insurance can be used to deal with the problems posed by such risk. Mirroring the diverse experience of its authors, the text is equally effective in presenting the principles of insurance theory and offering how-to advice to students. The traditional fields of life insurance, health insurance, property and liability insurance, and social insurance are treated in terms of their relationship to the wide range of insurable risks to which the individual and the business firm are exposed.· The Problem Of Risk· Introduction To Risk Management· The Insurance Device· Risk Management Applications· The Private Insurance Industry· Regulation Of The Insurance Industry· Functions Of Insurers· Financial Aspects Of Insurer Operations· The Legal Framework· Managing Personal Risks· Social Insurance Programs· Introduction To Life Insurance· The Actuarial Basis Of Life Insurance· The Life Insurance Contract-General Provisions· The Life Insurance Contract-Other Provisions· Special Life Insurance Forms· Buying Life Insurance· Annuities And Pension Benefits· Managing The Retirement Risk· Health Insurance: Disability Income Insurance· Health Insurance: Coverage For Medical Expenses· Health Insurance For The Elderly· Employee Benefits And Other Business Uses Of Life And Health Insurance· The Homeowners Policy · General Provisions· The Homeowners Policy Forms· Other Personal Forms Of Property Insurance· Negligence And Legal Liability· General Liability Insurance For The Individual· The Automobile And Its Legal Environment· The Personal Auto Policy· Commercial Property Insurance· Commercial Liability Insurance· Surety Bond And Credit Insurance· Insurance In The Future

Fundamentals of Risk Management, now in its fourth edition, is a comprehensive introduction to commercial and business risk for students and a broad range of risk professionals. Providing extensive coverage of the core frameworks of business continuity planning, enterprise risk management and project risk management, this is the definitive guide to dealing with the different types of risk an organization faces. With relevant international case examples from both the private and public sectors, this revised edition of Fundamentals of Risk Management is completely aligned to ISO 31000 and provides a full analysis of changes in contemporary risk areas including supply chain, cyber risk, risk culture and improvements in risk management documentation and statutory risk reporting. This new edition of Fundamentals of Risk Management has been fully updated to reflect the development of risk management standards and practice, in particular business continuity standards, regulatory developments, risks to reputation and the business model, changes in enterprise risk management (ERM), loss control and the value of insurance as a risk management method. Also including a thorough overview of the international risk management standards and frameworks, strategy and policy, this book is the definitive professional text for risk managers.

The Sixth Edition focuses on the insurance product and its use within a risk management framework. Legal changes, revisions in policy forms and new insurance contracts are covered along with the concept of risk, the nature of the insurance device and the principles of risk management. The appendices contain specimen copies of most major types of policies.