Principles of Risk Management and Insurance

by Rejda, George E.

• ISBN13: 9780321236876
• ISBN10: 0321236874
• Edition: 9th
• Format: Hardcover
• Copyright: 2005-01-01
• Publisher: Addison Wesley

Summary

Rejda is the undisputed market leader among risk management & insurance texts. Known for its proven authorship, attention to detail & technical accuracy, this new edition examines the process of analyzing & planning for both personal & business risks. Principles of Risk Management & Insurance 6e includes new discussions on: * Proposed Privatization of Social Security * Investing Social Security Trust Funds into Common Stocks * The Medicare Crisis * The Future Insolvency of Social Security * Coverage of the Health Insurance Portability & Accountability Act of 1996 * Increased Mergers & Consolidation of Insurers * Redlining * Banks Entering Insurance New Internet Resources at the beginning of each part point students to new sources of insurance information on the web. Boxed Insights continue to show the relationship between concepts & the real world with articles from professional business publications. Mini-Cases at the end of each chapter help students develop analytical & critical reasoning skills. Appendices include insurance planning worksheets, a comprehensive list of U.S. insurance & service organizations, & the most current guide to insurance commissioners. Features * Contains Internet applications & new & improved boxed insights, as well as more charts, graphs & other visuals than previous editions. * Provides thorough discussion of current developments in insurance, complete & current coverage of major areas in risk management & insurance, & blends basic insurance principles with consumer considerations. * We provide you with a solid supplements package & a superior Test Bank, written by Burton T. Beam, a professional exam writer of The American College, a college known for their work drafting questions for the CFA exam.

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.