Explain the major costs of insurance to society

Assignment Help Operation Management
Reference no: EM13842402

1. Andrews owns a gun shop in a high crime rate area. The store does not have a camera surveillance system. The high cost of burglary and theft insurance has substantially reduced his profits. a risk management consultant points out that several methods other than insurance can be used to handle the burglary and theft exposure. Identify and explain two noninsurance methods that could be used to deal with the burglary and theft exposure.

2. Private insurers provide social and economic benefits to society. explain the following benefits of the insurance to society. 1. Indemnification for loss 2. Enhancement of credit 3. Source of funds for capital investment and accumulation.

b. explain the major costs of insurance to society.

3. Private insurance provides numerous coverage’s that can be used to meet specific loss situations. For each of the following situations, identify a private insurance coverage that would provide the desired protection.

Emily, age 28, is a single parent with two dependent children. She wants s to make certain that funds are available for her children’s education if she dies before her youngest child finishes college.

Danielle, age 16, recently obtained her driver’s license. Her parents want to make certain they are protected if Danielle negligently injures another motorist while driving a family car.

Jacob, age 30, is married with two dependents. He wants his income to continue if he becomes totally disabled and unable to work.

Tyler, age 35, recently purchases a house for $200,000 that is located in an area where tornadoes frequently occur. He wants to make certain that funds are available if the house is damaged or destroyed by a tornado.

 

Nathan, age 40, owns an upscale furniture store. Nathan wants to be protected if a customer is injured while shopping in the store and sues him for the bodily injury.

Reference no: EM13842402

Can an organization be effective but not efficient

When we talk about an organization being effective, how do we know whether an organization is also efficient? Can an organization be effective but not efficient? Or vice versa

Supervisors cannot join unions in the private sector because

Before the NLRB will conduct a representation election there must be at least: The Gissel Doctrine: Supervisors cannot join unions in the private sector because: Union solicit

Program management support contract awarded

You are the contracting officer's representative (COR) of a program management support contract awarded to Easy Corp. It is the first year of a five-year contract. You have no

Allegations of mismanagement and data falsification

The problem with healthcare texts is that by the time they are published; things can change dramatically. Hence, one of the sections of your text is on the US Department of Ve

Discuss characteristics of each segmentation strategy

Discuss characteristics of each segmentation strategy; synthesize characteristics also assess explain how an organization determines which one (or more) of strategies to imp

Annual sales that produces supplies for hospitals

A president of a company with about $900,000,000 annual sales that produces supplies for hospitals, called you and asked to consult with you. He told you that currently they h

Demonstrate an understanding of the material

Answers the following questiosn be sure to provide thought and the reasoning behind your answers. You must demonstrate an understanding of the material. Simply stating each

What is the economic production size

A company produces a product that requires part X in its construction. The company plans on building 2500 units of the product over the next year, and therefore, has a need fo

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd