Principles of Risk Management and Insurance

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  • Edition: 7th
  • Format: Hardcover
  • Copyright: 2000-08-01
  • Publisher: Addison-Wesley
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Thoroughly updated, the seventh edition of Principles of Risk Management and Insurance provides the in-depth analysis of current issues and technical accuracy that readers expect from this market-leading text. The seventh edition continues to emphasize the insurance consumer and blends basic risk management and insurance principles with consumer considerations. Further, it addresses personal risk management and financial planning, so that students can apply basic concepts immediately to their own lives.New in the Seventh EditionThe Seventh Edition features heightened coverage of risk management in an all-new Chapter 4 on advanced topics in risk management such as enterprise risk management, financial risk management, loss forecasting, financial analysis in decision making, and the application of new technology to risk management programs. In addition, Chapter 3 has been heavily revised to include a discussion of personal risk management. Other new coverage includes an outline of the major revisions in the new homeowners policy in Chapters 8 and 9 and material on the new 1998 personal auto insurance policy in Chapter 10. And the new Chapter 20 on retirement plans discusses annuities and IRAs.The Seventh Edition also offers pedagogical enhancements. Recognizing the Internet as a valuable source of information, each chapter now contains a number of Web sites linking students to the latest resources. The emphasis on technology continues with a new Companion Web site featuring Internet exercises and self-administered chapter quizzes. Finally, all of the popular "Insight" boxes have been updated. "Insights" are effective learning tools that help students apply insurance concepts to real-world situations.

Table of Contents

Basic Concepts in Risk Management and Insurance
Risk in Our Society Meaning of Risk
Chance of Loss Peril and Hazard Basic Categories of Risk
Types of Pure Risk Burden of Risk on Society Methods of Handling Risk
Insurance and Risk
Definition of Insurance Basic Characteristics of Insurance Requirements of an 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
Introduction to Risk Management Meaning of Risk
Management Objectives of Risk Management Steps in the Risk
Management Process Identifying Loss Exposures Analyze the Loss
Exposures Select the Appropriate Techniques for Treating the Loss
Exposures Implement and Monitor the Risk Management Program
Benefits of Risk Management Personal Risk Management
Advanced Topics in Risk
Management The Changing Scope of Risk Management Insurance Market Dynamics Loss
Forecasting Financial Analysis in Risk Management
Decision Making Other Risk Management Tools
The Private Insurance Industry
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 Group Insurance Marketing
Insurance Company Operations
Insurance Company Operations Rate Making Underwriting Production
Claims Settlement Reinsurance Alternatives to Traditional Reinsurance Investments
Other Insurance Company Functions
Financial Operations of Insurers Property and Casualty Insurers
Life Insurance Companies Rate Making in Property and Casualty Insurance Rate Making in Life Insurance
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 Problems and Issues in Insurance Regulation
Legal Principles in Risk and Insurance
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
Analysis of Insurance Contracts
Basic Parts of an Insurance Contract Definition of the "Insured" Endorsements and Riders Deductibles Coinsurance Coinsurance in Health
Insurance Other-Insurance Provisions
Life and Health Risks
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
Life Insurance Contractual Provisions Life
Insurance Contractual Provisions Dividend Options Nonforfeiture Options Settlement Options
Additional Life Insurance Benefits
Buying Life Insurance Determining the Cost of Life Insurance
Rate of Return on Saving Component Taxation of Life Insurance Shopping for Life Insurance
Annuities and Individual Retirement Accounts Individual Annuities
Types of Annuities Taxation of Individual Annuities Individual Retirement Accounts
Individual Health Insurance
Coverages Health-Care Problems in the United States Individual
Table of Contents provided by Publisher. All Rights Reserved.

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