Risk Segment
Peril, hazard, negligence, pure risk, speculative
What are the 5 types of risk?
Is a process by which all possible risks are considered and the most significant for particular business are identified
Risk Analysis
covers loss of damage to buildings equipment, machinery, merchandise, furniture and fixtures
What is Property Insurance?
Protects against employee dishonesty and theft, are required by most companies
What is Fidelity Bonds?
Texas Longhorn
What is the Best CFB Team?
Anything which may cause loss
What is Peril?
Refers to a business refusing to engage in a particularly hazardous activity
What is Risk avoidance
Reimburses the business for the replacement cost of damaged property
What is Replacement Cost Coverage?
Provides protection for losses occurring if a construction project is not completed due to the contractors impaired financial condition
What is Performance Bonds?
what was the team that one in the Lorax v. The onceler Trial
The Plaintiff (Lorax)
Are impossible to predict; purely accidental and unintentional
What is pure Risk?
-installing security devices in merchandise , holding employee training sessions are examples of....
What is Risk Reduction?
Adjusts coverage to compensate for inflation
What is Automatic Increase Protection?
Protects businesses from losses on credit extended to customers
What is Credit Insurance?
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Misha's Favorite number
What is 16?
Are risk which carry a chance of either loss or gain and not insurable
What is Speculative Risk?
Occurs when a business cannot prevent or transfer a risk and it retains or assumes the financial consequences of a loss
What is Risk Retention?
Protects the Business against damages for which it may be held legally responsible
What is Liability Insurance?
Is the most popular form of coverage, typically employer - sponsor
What is Group Health Insurance?
It can travel more than 100mph
What is a sneeze?
Ex: defective wiring which can cause fires is....
What is a Hazard?
Is the most common method of risk management
What is Risk Transfer?
Compensates a business for the loss of income during the time which repairs are being made to the damaged property
What is Business Interruption?
Is the acronym for consolidated omnibus budget reconciliation act of 1986
What is COBRA?
Who is better at winning football games Texas or Georgia?
Texas has more NCAA football wins than Georgia. Texas currently !has 961 wins, while Georgia has 923 wins. TEXAS BY 38!!