Describe the steps in the risk management process

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Reference no: EM132731789

1. What is the meaning of risk management? Describe the benefits of a risk management program.

2. Explain the objectives of risk management both before and after a loss occurs.

3. Describe the steps in the risk management process.

4. What is enterprise risk management and how does it differ from traditional risk management?

5. What are the steps in the enterprise risk management process?

6. What are the benefits of implementing an enterprise risk management program?

7. What is the underwriting cycle? How do industry capacity and investment returns impact the insurance market?

8. Why is time value of money analysis used in risk management decision making?

9. Why is the ability to forecast losses important for a risk manager?

10. Describe other tools that may be of assistance to risk managers?

11. Describe the basic characteristics of stock insurers.

12. Describe the basic features of mutual insurers.

13. Identify the major types of mutual insurers.

14. Explain the legal distinction between an agent and a broker.

15. Describe briefly the following distribution systems in the marketing of life insurance.

a. Personal selling systems

b. Financial institution distribution systems

c. Direct response system

d. Other distribution systems

16. Describe briefly the following distribution systems in the marketing of property and casualty insurance.

a. Independent agency system

b. Exclusive agency system

c. Direct writer

d. Direct response system

e. Multiple distribution systems

Reference no: EM132731789

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