- Please provide answers to the following five (5)
questions and submit via Canvas prior to class (to be submitted INDIVIDUALLY prior
- The primary type of insurance that provides some risk transfer for Hurricane impacts is:
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).
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?
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