Lect3S08

Lect3S08 - Property and Liability Loss Exposures Lecture...

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Property and Liability Loss Exposures Lecture Three
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Halek RMI 300 Spring 2008 2 Property Loss Exposures Real Property Business Level Individual Level Personal Property Business Level Individual Level Non-owned Property
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3 Non-owned Property Bailed Property Leased Property Property on Consignment Employee’s Property Property under Lien Agency Relationships Contingent Property Halek RMI 300 Spring 2008
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4 Financial Consequences Reduction in Value Debris Removal Business Interruption Contingent Business Interruption Loss of Rental Income Loss of Rental Value Loss of Leasehold Interest Inability to Reconstruct Records Loss of Use Value in Improvements and Betterments Demolition Costs and Increased Cost of Reconstruction Halek RMI 300 Spring 2008
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Liability Loss Exposures
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RMI 300 Spring 2008 6 The American legal system is based on the notion that a person should be responsible for the damage caused to others and their property (English Common Law) Legal Liability Definition Liability for Businesses Products Liability Automobile Liability Professional Liability Principal-Agent Liability Employer-Employee Liability
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This note was uploaded on 05/10/2008 for the course Z z taught by Professor Z during the Spring '08 term at Wisconsin.

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Lect3S08 - Property and Liability Loss Exposures Lecture...

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