Insurance Workshop

  1. Please provide answers to the following five (5) questions and submit via Canvas prior to class (to be submitted INDIVIDUALLY prior to class).
    1. The primary type of insurance that provides some risk transfer for Hurricane impacts is:
  • From the readings, the acronym “HIM” stands for ________________________________________
    • From the “On the Ground” article giving perspective from insurance companies, a utility, and an educational institution, what do you consider the key theme of the responses?  ________________________________________________________________________________________________________________
    • From the readings, insurance companies do not play a role in the government backed National Flood Insurance Program (NFIP) (T/F).
    • From the readings, when a business relies too much on insurance and not enough on natural disaster preparation and damage prevention, what happens?  ________________________________________________________________________________________________________________________________________________________________________
    • Besides financial, name significant impacts to the Insurance Provider when a significant natural disaster occurs in a region.  ________________________________________________________________________________________________________________________________________________________________________
    • The readings make a distinction for an insurance provider being a “payer” versus a “partner”.  What does that mean to you?  ________________________________________________________________________________________________________________
    • US Government’s coverage of disaster losses has increased significantly (T/F).
    • Business Continuity and Disaster Recovery Plans (circle all that apply):
      • Primarily for data center continuity and recovery
      • Should be tested at least annually.
      • Can affect your insurance risk management strategy.
      • Only applies to Natural disasters and catastrophic events
    • Name at least two insurance products as an insurance buyer would be help in the event of a natural disaster.  ________________________________________________________________________________________________________________
  • Applying the Insurance Risk concepts to your ERM Project Company: Working with your group project team, consider insurable risks for your project company and answer the following questions based on your own research
    • What Insurable Risks are important to your project company and why?
    • Is property and casualty insurance a component in solving the business problem or risk issue that was part of your group presentations?
    • The articles mention the National Flood Insurance Program (NFIP).  What does you group think of the program and how to solve its deficit issues?  Does it create a moral hazard for those who build near flood prone areas?  Is Public/Private Partnership, continued Public, or private solution the answer?

OUR WRITERS are completing this task for other clients. ORDER YOURS at:

Front Page