Homework
I. What is the meaning of risk management? Describe the benefits of a risk management program.
II. Explain the objectives of risk management both before and after a loss occurs.
III. Describe the steps in the risk management process.
IV. What is enterprise risk management and how does it differ from traditional risk management?
V. What are the steps in the enterprise risk management process?
VI. What are the benefits of implementing an enterprise risk management program?
VII. What is the underwriting cycle? How do industry capacity and investment returns impact the insurance market?
VIII. Why is time value of money analysis used in risk management decision making?
IX. Why is the ability to forecast losses important for a risk manager?
X. Describe other tools that may be of assistance to risk managers?
XI. Describe the basic characteristics of stock insurers.
XII. Describe the basic features of mutual insurers.
XIII. Identify the major types of mutual insurers.
XIV. Explain the legal distinction between an agent and a broker.
XV. Describe briefly the following distribution systems in the marketing of life insurance.
i. Personal selling systems
ii. Financial institution distribution systems
iii. Direct response system
iv. Other distribution systems
XVI. Describe briefly the following distribution systems in the marketing of property and casualty insurance.
i. Independent agency system
ii. Exclusive agency system
iii. Direct writer
iv. Direct response system
v. Multiple distribution systems
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.