Risks associated with cyclone and storm activity, Risk Management

Assignment Help:

Part A

Glenda has taken a household insurance on her classic Queenslander home in North Queensland.  At the time of application, the insurer "URINSURED" asked numerous questions regarding the house including questions about the structure, location and existing damage. 

In response to these questions, Glenda responded that the house had no existing damage.  However, Glenda had previously claimed on a past policy on water damage sustained through cyclone activity. 

Ten months after obtaining the policy Glenda suffered damage to her roof resulting from a tree branch. 

 Required:

  1. Advise Glenda whether he will able to rely upon her insurance policy for relief.
  2. Assuming that the insurer "URINSURED" agrees to cover Glenda in the mentioned circumstances and Glen signs a release, Explain to Glen whether he will be able to make any future claims in relation to this incident under the insurance policy.
  3. Assuming the insurer knows about the inherent risks associated with cyclone and storm activity in Northern Queensland would the duty of disclosure still apply? 

 

 


Related Discussions:- Risks associated with cyclone and storm activity

Determine the current market risk premium, Case: You are a partner in a...

Case: You are a partner in a first time PE fund. Against all chances, you have been able to raise $300M from investors. The business plan based on which you got the funds from

Risk assessment, Scottie is a professional basketball player who plans to p...

Scottie is a professional basketball player who plans to play for three more years.  During the summer, he has been offered two different contracts by his current team.  The first

Disaster recovery plan, Devise a disaster recovery plan • Business Impact A...

Devise a disaster recovery plan • Business Impact Analysis • Treatment Strategies: o Risk Avoidance o Risk Reduction o Risk Transfer o Risk Retention • Ingredients of a disaster re

What is the maximum amount of money the company, The marketing department o...

The marketing department of a vitamin water company wishes to determine the maximum expected payoff from introducing a new strawberry drink. What decision, in terms of choosing the

Audit of home retail group , Critically assess the risk-based approach to e...

Critically assess the risk-based approach to external audit with particular reference to the audit of Home Retail Group plc. Note: You must give examples of how you might col

Show security market line, Q. Show Security market line? The CML repres...

Q. Show Security market line? The CML represent the equilibrium relation between the expected return and standard for efficient portfolio. But it does not indicate how individu

Location selection, what are the methods for location selection

what are the methods for location selection

Risk and return, A person is willing to sell some stock at Rs 500000 after ...

A person is willing to sell some stock at Rs 500000 after one year from now. The risk free rate is 7% and the risk premium is estimated at 8%. I the person is intending to enter a

What is expected return on a portfolio, Q. What is Expected Return on a Por...

Q. What is Expected Return on a Portfolio? The Expected Return on a Portfolio is simply' the weighted average of the expected returns of the individual securities in the given

Write Your Message!

Captcha
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