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Benefits of Risk Management

Benefits of Risk Management

Benefits of Risk Management The previous discussion shows that the risk management process involves a complex and detailed analysis. Despite the complexities, an effective risk management program yields substantial benefits to the firm or organization. Major benefits include…

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Insurance Agent

Insurance Agent

Insurance Agent Start-up cost: $10,000–$15,000 (more if you buy into a franchise) Potential earnings: $45,000–$60,000 Typical fees: Commissions range from 20 to 35 percent Advertising: Cold-calling, membership in community groups, radio, newspapers, community publications, billboards, your outdoor sign…

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Valued policy

Valued policy

Valued policy A marine policy may be either valued or unvalued . It is a valued policy where the policy specifies the agreed value of the subject matter insured, . It would be convenient for the parties to…

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Law Of Marine Insurance

Law Of Marine Insurance

The law of Marine Insurance It was stated that there is no record of any trial affecting questions of marine insurance before the end of the sixteenth century.In 1601 Parliament passed an Act establishing an insurance court, however,…

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Lloyd’s of London

Lloyd’s of London

Lloyd’s of London Lloyd’s was initially a coffee house run by Edward Lloyd who opened the house in 1688 in London. The coffee house was a place to respond to adverts for lost or stolen items or runaway…

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Marine Insurance

Marine Insurance

Introduction To Marine Insurance The word insurance (formerly called assurance) is of Italian origin, and the word policy derives from ‘polizza’, as promise or undertaking. 1 Lombards were the Italian immigrants who came to England in the thirteenth century…

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Accountabilities

Accountabilities

Accountabilities I have referred more than once to the need to break from the concept of the IT project. This is essential when executive management views any project involving IT as an IT project. The resulting focus on…

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Social Insurance

Social Insurance

Meaning Social Insurance Social insurance differs from private insurance in a number of respects. In the case of  insurance,we use the insurance mechanism for transferring and sharing risk, but we do so on a somewhat qualified basis. Social…

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SELF-INSURANCE

SELF-INSURANCE

SELF-INSURANCE The term self-insurance has become a well-established part of the terminology of the insur-ance field despite disagreement as to whether such a mechanism is possible.From a purely seman-tic point of view, the term self-insurance represents a definitional…

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Risk Management Insurance

Risk Management Insurance

THE HISTORY OF MODERN RISK MANAGEMENT Although the term risk management may have been used in the special sense in which it was used here earlier, the general trend in its current usage began in the early 1950s….

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