Insurance and risk transfer

Importance of insurance
1. Risk response
2. Risk financing (RF)
3. Indemnity against loss
4. Delay in obtaining settlement of claim
Different types
1. Conventional
2. Contractual
3. Captive
4. Pooling
5. Derivatives
6. Alternative RF
7. Single premium bonds
Types of insurance cover
1. Legal
  1. Balance sheet/profit and loss protection
  2. Compulsory
  3. Public liability
2. Employees benefit/protection
  1. Life and health
  2. D&O insurance
3. Business Premises
  1. Asset protection
  2. Motor
  3. Terroism
Purchase of insurance
1. 6Cs of buying insurance
  1. Cost
  2. Coverage
  3. Capacity
  4. Capabilities
  5. Claims
  6. Compliance
Captive insurance
1. Org not involved in insurance
2. Parent
3. domiciles
4. Lower premiums
5. access to reinsurance markets
6. Greater risk awareness
7. Greater cover
8. Tax benefits
9. Exposed to claims
10. allocate captial
11. losses on parents balance sheet
12. Non admittance in other territories
13. Admin cost, time & effort

Resumen del Recurso

	Creado por helen_woolford hace alrededor de 11 años