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Class Agenda for 022211

Class Agenda for 022211 - Class Agenda 1 2 3 4 5 Go over...

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Class Agenda – February 22, 2011 1) Go over schedule – test March 8,2011 2) Welcome / Nationwide commercial Youtube 3) Review Chapter 5 4) Discuss articles 5) Discuss social issue of insurance, health care reform, history of AIG, Lloyd’s, GrahamLeach Bliley Act 1) Insurance is very interesting – Chpt 5 private insurance 2) Insurance company – what is it? – Class Exercise a. Simple terms – a corporation that is organized to provide security/survival of assets 3) History -US b. Shipping/marine (British) c. Fire 1752 (Ben Franklin – house fires) d. Life Insurance 1759 (Pres. Ministers/widows and children) e. Casualty Insurance fire marine life mid 1800’s f. Travel accident 1848 (trains)(British) 1864 – Traveler’s g. Boiler Machinery 1886 h. Employer’s liability 1886 i. Elevator/public liability 1889 j. Automobile 1898 k. Worker’s compensation 1910 Correlate to history of United States 1776 – Freedom from the British, protect assets 1860-1910/20’s industrialization, the change with WW Development of R&R across US and Europe Employer’s Liability (worker’s compensation) Large city development with automation, lights, plumbing Development of the automobile Change in working conditions (acceptance) sweat shops, factories Continues today – as business operates Article that international business risks changing – not just political but opportunity for pandemics, environmental issues, global economy, security etc. Previously – historical offered federal insurance War Risk Insurance (WW I, WW II) Nuclear Energy Liability (1957-1975) Federal Riot Reinsurance Program (1968-1983) Federal Crime Insurance Program (1971-1996) TRIA (terrorist risk insurance act 2002) Talk about new broker
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  • Spring '11
  • DonnaL.Pearcy
  • insurance companies, insurance company, Risk Insurance Act, war risk insurance, offered federal insurance

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