Review Questions
The Personal Auto Policy(PAP) contains several coverages that meet the insurance needs of typical insureds. For each
of the following coverages, briefly describe the type of coverage provided, and give an example of a loss that
covered.
CHAPTER 5: LEGAL
PRINCIPLES IN INSURANCE
Principles of Risk Management and Insurance
By G.E. Rejda
(Class 6)
AGENDA
Principle of Indemnity
Principle of Insurable Interest
Principle of Subrogation
Principle of Utmost Good Faith
Requirements of an Insu
CHAPTER 6: ANALYSIS OF
INSURANCE CONTRACTS
Principles of Risk Management and Insurance
By G.E. Rejda
(Class 6)
AGENDA
Basic
Parts of an Insurance
Contract
Definition of Insured
Endorsements and Riders
Deductibles
Coinsurance
Other-Insurance Provisio
CHAPTER 4: POOLING
ARRANGEMENTS AND
DIVERSIFICATION OF RISK
Risk Management and Insurance
By Harrington & Niehaus
(Class 4)
AGENDA
Risk Reduction through Pooling
Independent Losses
Two Person Pooling Arrangement
Pooling Arrangement with many People or
B
INTRODUCTION TO
GENERAL INSURANCE
(PENGENALAN KEPADA INSURANS AM)
COURSE CODE: SJER3218
COURSE INFORMATION
Brief Introduction to General Insurance
Risk and Its Treatment
Different Definitions of Risk
Chance of Loss
Peril and Hazard
Classification of
CHAPTER 3: FUNDAMENTALS
OF RISK MANAGEMENT
Principles of Risk Management and Insurance
By G.E. Rejda
(Class 3)
AGENDA
Meaning
of Risk Management
Objectives of Risk Management
Steps in the Risk Management
Process
Benefits of Risk Management
Personal R
CHAPTER 1: RISK AND ITS
TREATMENT
Principles of Risk Management and Insurance
By G.E. Rejda
(Class 2)
AGENDA
Different Definitions of Risk
Chance of Loss
Peril and Hazard
Classification of Risk
Major Personal Risks and
Commercial Risks
Burden of Ris
CHAPTER 3: RISK
IDENTIFICATION AND
MEASUREMENT
Risk Management and Insurance
By Harrington & Niehaus
(Class 4)
AGENDA
Risk Identification
Identifying Business Risk Exposures
Identifying Individual Exposures
Basic Concepts from Probability and
Statistics
CHAPTER 2: INSURANCE
MECHANISM
Principles of Risk Management and Insurance
By G.E. Rejda
(Class 3)
AGENDA
Definition
and Basic Characteristics of
Insurance
Characteristics of an Ideal Insurable Risk
Adverse Selection and Insurance
Insurance vs. Gambli
CHAPTER 9: RISK AVERSION AND
RISK MANAGEMENT BY
INDIVIDUALS AND
CORPORATIONS
Risk Management and Insurance
By Harrington & Niehaus
(Class 5)
AGENDA
Risk Aversion
and Demand for
Insurance by Individuals
The Effects of Insurance on Wealth
Risk Aversion
Review questions
1. How does ratemaking, or the pricing of insurance, differ from the pricing of other products?
When the other products are sold, the company generally knows in advance the cost of producing those
products, so that prices can be establis
8/3/2010
Chapter 24
Types of Private Insurers and
Marketing Systems
Agenda
Overview of Private Insurance in the Financial
Services Industry
Types of Private Insurers
Agents and Brokers
Types of Marketing Systems
Group Insurance Marketing
1
8/3/2010
O
8/6/2010
Chapter 26
Financial Operations
of Private Insurers
Agenda
Property and Casualty Insurers
Life Insurance Companies
Ratemaking in Property and Casualty Insurance
Ratemaking in Life Insurance
The Financial Crisis and Insurers
1
8/6/2010
Financial S
7/19/2010
Chapter 18
Life Insurance
Purchase Decisions
Agenda
Determining the Cost of Life Insurance
Rate of Return on Saving Component
Taxation of Life Insurance
Shopping for Life Insurance
1
7/19/2010
Determining the Cost of Life Insurance
The cost of a
6/3/2010
Chapter 2
Insurance and Risk
2-1
Agenda
Definition and Basic Characteristics of
Insurance
Requirements of an Insurable Risk
Adverse Selection and Insurance
Insurance vs. Gambling
Insurance vs. Hedging
Types of Insurance
Benefits and Costs
5/30/2011
Chapter 1
Risk in Our Society
1-1
Agenda
Meaning of Risk
Chance of Loss
Peril and Hazard
Basic Categories of Risk
Types of Pure Risk
Burden of Risk on Society
Methods of Handling Risk
1-2
1
5/30/2011
Meaning of Risk
Risk: Uncertainty co
6/3/2010
Chapter 3
Introduction to Risk Management
3-1
Agenda
Meaning of Risk Management
Objectives of Risk Management
Steps in the Risk Management Process
Benefits of Risk Management
Personal Risk Management
3-2
1
6/3/2010
Meaning of Risk Management
6/20/2010
Chapter 16
Fundamentals of
Life Insurance
1
Agenda
Premature Death
Financial Impact of Premature Death on
Different Types of Families
Amount of Life Insurance to Own
Types of Life Insurance
Variations of Whole Life Insurance
Other Types of
Review Questions
Identify the basic types of homeowners policies that are used today
Identify the person who are insured under a homeowners policy
The Section I property coverages provide different types of coverages to an insured. For each of the foll
Application questions
Based on the following information, determine the policyholders surplus for XYZ Insurance Company:
Total Invested assets
$50,000,000
Loss Reserves
$40,000,000
Total Liabilities
$70,000,000
Bonds
$35,000,000
Unearned premium reserve
7/26/2010
Chapter 21
Employee
Benefits: Group
Life and Health
Insurance
Coverages
Agenda
Meaning of Employee Benefits
Fundamentals of Group Insurance
Group Life Insurance Plans
Group Medical Expense Insurance
Traditional Indemnity Plans
Managed Care Plans
