ansimoesSticky NoteClaim buildup: Intentional exaggeration of a loss in an otherwise legitimate claim.

ansimoesSticky NoteTotal revenue (premiums and investment income) = or > amount needed to pay for losses and business expenses.

ansimoesSticky NoteBenefits of Insurance

ansimoesSticky NoteIncentives to undertaking risk sharing mechanisms: deductibles, premium credit incentives and contractual requirements.

ansimoesSticky NoteDefinite & Measurable: 3 components are reqd for a loss exposure to be definite: Time, cause and location.

ansimoesSticky Note6 characteristics of an ideally insurable loss exposure. Moral Hazard Vs Fortuitious losses.

ansimoesSticky NotePure risk entails a chance of loss, no loss but no chance of gain. Speculative risk represents possibility of loss, no loss or gain. Insurable loss exposure should be associated with Pure Risk.

ansimoesSticky NoteCGL policy excludes most pollution related claims. Ocean Marine (Wet marine) is the oldest form of Insurance.

ansimoesSticky NoteTypes of CI

ansimoesSticky NoteTypes of Life and Health Insurance

ansimoesSticky NoteTypes of PI Policies

ansimoesSticky NoteCategories of Personal Insurance

ansimoesSticky NoteLaw of Large numbers.

ansimoesSticky NoteWhy are Risk Mgmt techniques used

ansimoesSticky Notedefinitions:Risk Mgmt, Loss Prevention, Loss reduction

ansimoesSticky NoteWhat is Noninsurance Transfer?

ansimoesSticky NoteInsurance Policy