保险学 Insurance Chapter 3.ppt

Chapter 3 Introduction to Risk Management * * * * * * Transparency Master 1.2 * * * * * * * * * * * * * * * Copyright ? 2011 Pearson Prentice Hall. All rights reserved. 3-* Copyright ? 2011 Pearson Prentice Hall. All rights reserved. Agenda Meaning of Risk Management Objectives of Risk Management Steps in the Risk Management Process Benefits of Risk Management Personal Risk Management Meaning of Risk Management Risk Management is a process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures A loss exposure is any situation or circumstance in which a loss is possible, regardless of whether a loss occurs E.g., a plant that may be damaged by an earthquake, or an automobile that may be damaged in a collision New forms of risk management consider both pure and speculative loss exposures Objectives of Risk Management Risk management has objectives before and after a loss occurs Pre-loss objectives: Prepare for potential losses in the most economical way Reduce anxiety Meet any legal obligations Objectives of Risk Management Post-loss objectives: Ensure survival of the firm Continue operations Stabilize earnings Maintain growth Minimize the effects that a loss will have on other persons and on society Risk Management Process Identify potential losses Measure and analyze the loss exposures Select the appropriate combination of techniques for treating the loss exposures Implement and monitor the risk management program Exhibit 3.1 Steps in the Risk Management Process Identifying Loss Exposures Property loss exposures Liability loss exposures Business income loss exposures Human resources loss exposures Crime loss exposures Employee benefit loss exposures Foreign loss exposures Intangible property loss exposures Failure to comply with government rules and regulations Identifying Loss Exposures Risk Managers have several sources of information to identify loss exposures: Questionnaires Physical insp