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Can you please answer the questions. 1. One of the steps in the quot;risk management processquot; is 'analyzing exposures. What does this step
1. One of the steps in the "risk management process" is 'analyzing exposures. What does this step entail?
2. One of the "Risk Management Techniques is "retention". What does this step refer to?
3. Explain what you think the primary duties of a risk manager are.
4. Explain how you think risk managers go about identifying the risks and exposures their organizations face.
5. The major commercial property loss exposures are discussed on PP 1.7 - 1.11 in the text. In your personal opinion, list these in order of greatest risk to least risk as respects PDI.
6. The CFO recently heard that some insurance companies use "nonstandard forms" and she feels this is probably not a good idea. Explain to the CFO what a nonstandard form is and whether or not you think using one would be a problem.
7. The CFO recently heard that significant discounts could be obtained by using a "Businessowners Policy". Explain to the CFO if you think this is a viable alternative for PDI or not.
8. One of our Branch Managers reports that he received a letter today indicating that the property policy on the condominium he supervises is being cancelled in 5 days. He wants to know what to do?
9. The warehouse manager in Denver reports that the insurance company has just advised him that they will arrive tomorrow for an inspection. This is very bad timing. Is there anything we can do?
10. Our Manager in San Francisco has a buyer for the warehouse and he wants to know if the Property Policy goes with the sale. What would you tell him?
11. The CFO learned at a recent conference that Actual Cash Value isn't as good a Replacement Cost. She wants to know your opinion on it.
12. The CEO has a friend whose business recently sustained a large penalty because they were "below their co-insurance level. What's this all about?
13. The Manager in Denver is thinking of letting the warehouse go vacant while they try to find a new location. Is there any disadvantage from an insurance standpoint in doing that?
14. Our Manufacturing VP is suggesting that we just don't tell the insurance company about the amount of flammable solvents we have at the plant so that our rates will be lower. What do you think of that strategy?
15. The CFO wants to know what the typical "policy period" is in a normal BPP.
16. Our landlord for the rented office space in Houston is demanding a "Waiver of Subrogation" endorsement and says it's required by the lease. The Chief Legal Officer wants to know what that is all about.
