The Nature and Main features of Insurance
The basis of insurance as a risk transfer mechanism How insurance operates by the pooling of risks How insurance benefits: policyholders society in general What is meant by: coinsurance dual insurance self insurance non-Insurance The main classes of insurance: long-term short-term
The Nature and Main features of Risk
The concept of risk and risk perception How different risks are categorized The risk management function and process The relationship between frequency and severity of loss The types of risks that can be insured and the type of risks that cannot. What is meant by a peril and a hazard and the difference between the […]
The Nature and Main features of Risk and Insurance
The role of risk in insurance Categories of risk Features of insurance risks Uninsurable risks Components of risk Insurance as a risk transfer mechanism Why insurance is needed Pooling of risks Co-insurance Self-insurance Classes of Insurance
