BAF 311 Risk Management and Insurance Assignment

Assignment Help Risk Management

Reference no: EM132502677

BAF 311 Risk Management and Insurance - Emirates College of Technology

Question 1:

A. Complete the following table in the regards of Uninsured Motorists Coverage (UMC)?
B. Explain the following sentence: "one of the Health Care's problems is the defects in financing Health Care"?

Question 2: Answer the following:

A. Compare between the Single limit coverage and the Split limit coverage under theLiability coverage? And which one of them is the most common in use?

B. Explain when the insurance companies will apply the residual disability policy?

Question 3: Answer the following:

Under the "Loss of use coverage" insurance, you have to decide in the following scenarios; the amount of money that the beneficiary will receive:

1. Scenario A:Insurance Company applies the Fair Rental Value:

Khalid rent a room to a student for AED 2500 per month;if the home is uninhabitable after a fire and it takes four months to rebuild?

2. ScenarioB:Insurance Company applies the Additional Living Expense:

Mohamed's home is damaged by a fire,if he rents a furnished apartment for three months at AED 9000 per month?

Question 4: Assume that a dwelling has a replacement cost of $750,000, but is insured for only $500,000. The roof of the house is 12 years old and has a useful life of 30 years. Assume that the roof is severely damaged by a tornado, and the replacement cost is $50,000. Calculate the amount of money that the insured will receive?

Question 5: Answer the following:

A. Assume 15,000 buildings valued at $12,000 each insured for 100% of value, the insurer predict some total and some partial losses as the following:
- 4buildings total loss.

- 30 buildings partial loss at $1000 each.

Calculate the Pure Rate per$100?

B. Recalculate the Pure Rate if the building insured for 50% of value?

Question 6: Answer the following:

A. Most observers predict increased globalization of insurance in the years to come, why?

B. Explain the Business Income Coverage (BIC)

Attachment:- Risk Management.rar

Reference no: EM132502677

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