Risks covered under the policy., Risk Management

Assignment Help:

An insurance company is investigating offering kidnap and ransom insurance. Policies are to be sold to multinational companies to provide cover for certain named employees who are based in or travel to a range of countries. The cover provides protection against losses incurred by the company and its employees (or their families) in the event of an actual/attempted kidnap or hijack.

The main benefits include:

• Reimbursement of ransom.
• Insurance against loss in transit of ransom.
• Insurance for additional outgoings, which may arise as a result of a kidnap or hijack.
• Payment of medical bills for actual injury or psychological care.
• Compensation for the stress and trauma suffered by employees or their families, for example as a result of threats made.
• Compensation for damage to property of the company or its employees.

(i) List the information that would be requested on the proposal form to aid in underwriting the policy.

(ii) (a) Describe the conflicts of interest that could exist between any of the insurance company, the employer and the employee.

(b) Explain how such conflicts could be reduced.

(iii) Describe how the insurer could provide assistance to its clients to help them manage or mitigate the risks covered under the policy.


Related Discussions:- Risks covered under the policy.

Discuss the potential health risk, Question: (a) Discuss the potential...

Question: (a) Discuss the potential health risk which composting can pose to workers or to those located near a facility. (b) A number of concerns have been identified in

Market liquidity risk literature review, I would need a literature review o...

I would need a literature review of the market liquidity risk. 1)Basic definitions 2)Literature review - in the context of market microstructure -Importance of market liquidity ris

Explain in detail about the non-systematic risk, Explain in detail about th...

Explain in detail about the Non-Systematic Risk Variability in a security's total returns not related to overall market variability is termed as the non-systematic (non-mark

Display screen equipment risk assessment, Question 1: (a) Describe the ...

Question 1: (a) Describe the aspects that should be considered when assessing the fit between a person and his work. (b) Display Screen Equipment (DSE) risk assessment shoul

Discretionary access control and mandatory access control, Question: (a...

Question: (a) (i) Explain what is meant by Discretionary Access Control and Mandatory Access Control. (ii) What is the difference between the two types of access contro

Requirement of relevant control of iso, Question: For each of the situa...

Question: For each of the situations below:- (a) Mention most relevant clause of ISO 27001:2005 (b) Whether the practice followed in the organization is appropriate and i

Expected return over the benchmark, The Investment Committee is big on acti...

The Investment Committee is big on active management, and believes that there are areas/pockets of inefficiencies in the market. Knowing that you have taken Finance 455 at X-Univer

Insurance, insurance is a pool of risk?discuss

insurance is a pool of risk?discuss

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