Introduction to risk management and insurance:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Englewood Cliffs, NJ
Prentice-Hall
1994
|
| Edition: | 5. ed. |
| Series: | The Prentice-Hall series in security and insurance
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Bis 4. Aufl. u.d.T.: Dorfman, Mark S.: Introduction to insurance |
| Physical Description: | XXI, 496 S. graph. Darst. |
| ISBN: | 0135039053 |
Staff View
MARC
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| 100 | 1 | |a Dorfman, Mark S. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Introduction to risk management and insurance |c Mark S. Dorfman |
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Record in the Search Index
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| adam_text | Contents
PREFACE xv
Part One
Insurance and the Management of Risk
1 FUNDAMENTALS AND TERMINOLOGY 1
Introduction 1
Insurance Defined 2
Loss, Chance of Loss, Peril, Hazard, Proximate Cause 4
The Mathematical Basis for Insurance 7
A Mathematical Example of an Insurance System s Operations 8
Building Blocks of an Insurance Premium 8
The Benefits and Costs to Society of Insurance Systems 10
Arson: Who Really Pays for Insured Losses 11
Summary 13
2 INSURABLE LOSS EXPOSURES 16
Introduction 16
Gambling and Speculative Risks 17
Ideally Insurable Loss Exposures 17
When Only the People Most Exposed to Loss Want Coverage,
Insurance Becomes Unfeasible 21
Risk Classification 22
Important Social Issues 25
Branches of Insurance 29
Summary 30
viii Contents
3 RISK MANAGEMENT 1: ESSENTIALS 34
Introduction 34
The Risk Management Function 35
The Risk Management Process 37
Identification and Measurement of Exposures 41
Alternative Methods of Dealing with Risk 45
Summary 52
4 RISK MANAGEMENT 2: ADVANCED TOPICS 56
Introduction 56
Risk Management Information Systems (RMIS) 57
Deductibles and Policy Limits 59
International Risk Management 62
Financial Risk Management 66
Summary 68
Appendix: Personal Risk Management 70
Part Two
Providing Insurance to Consumers
5 PRIVATE INSURANCE COMPANIES 72
Introduction 72
Two Different Types of Insurance Companies 73
Demurualization 76
Lloyd s of London 76
Other Legal Forms of Insurance Companies 79
Summary 82
6 INSURANCE OCCUPATIONS 84
Introduction 84
Insurance Agents and Brokers 85
Loss Adjuster 90
Employees, Independent Adjustment Bureaus, Public Adjusters 92
Underwriter 93
Actuary 97
Attorney 98
Finance 98
Other Occupations 98
Summary 99
Appendix: Legal Issues Involving Insurance Agents and Brokers 101
7 THE INSURANCE MARKET: THE ECONOMIC PROBLEM 103
Introduction 103
Economic Theory 106
Contents ix
The Insurance Consumer 112
Consumer Protection: The Role of the Courts, the Law,
and the Insurance Commissioner 117
Summary 119
Part Three
Branches of the Private Insurance System
8 COMMERCIAL PROPERTY INSURANCE 122
Introduction 122
Commercial Package Policy 125
Building and Personal Property Form 125
Transportation Insurance 129
Aircraft Property Insurance 134
Automobile Property Insurance 135
Summary 136
9 GENERAL LIABILITY INSURANCE 139
Introduction 139
Legal Background 140
The Relationship Between Negligence and Legal Liability Insurance 146
Social Host Liquor Liability: An Example 147
Categories of Liability Insurance 148
Summary 155
10 SPECIAL LIABILITY INSURANCE 158
Introduction 158
Environmental Impairment Liability 159
Products Liability Insurance 162
Professional Liability Insurance 165
Nuclear Liability Insurance 167
Summary 168
11 BONDING, CRIME INSURANCE, AND REINSURANCE 171
Introduction 171
Surety Bonding 172
Crime Insurance 175
Reinsurance 175
Summary 180
x Contents
Part Four
Property and Liability Insurance Contracts
12 INSURANCE CONTRACTS 182
Introduction 182
Contract Terminology 183
Elements of a Valid Contract 184
Distinguishing Characteristics of Insurance Contracts 185
Discharge of Insurance Contracts 195
Summary 196
Appendix: Two Cases for Discussion 198
13 BASIC PROPERTY AND LIABILITY INSURANCE CONTRACTS 200
Introduction 200
Standard Policies 202
Basic Parts of an Insurance Policy 202
Conditions 206
Summary 211
14 HOMEOWNERS INSURANCE 214
Introduction 214
A General Description of the HO Insurance Policies 215
Policy Layout 216
Definitions 218
Section 1—Property Coverages 219
Section 1—Perils Insured Against in the Broad Form, HO 2 221
Section 1—Exclusions 225
Section 1—Conditions 226
Section 2—Liability Coverages 230
Section 2—Exclusions 231
Sections 1 and 2—Conditions 233
Reduction of Insurance Resulting From Previous Losses 233
Summary 233
Appendix: Buying Homeowners Insurance 237
15 THE PERSONAL AUTO POLICY 238
Introduction 238
The Tort Liability System and Automobile Insurance: A Review Case 239
The Personal Auto Policy Layout 240
Part A—Liability 241
Part B—Medical Payments 244
Part C—Uninsured Motorists Coverage 245
Part D—Damage to Your Auto 246
Part E—Duties after an Accident or Loss 247
Part F—General Provisions 247
Summary 248
Contents xi
Part Five
Life Insurance, Health Insurance, and Annuities
16 LIFE INSURANCE POLICIES 251
Introduction 251
Three Ways Life Insurance Is Distributed 252
Insured, Owner, and Beneficiary 255
Term Insurance 255
Whole Life Insurance 259
Buy Term and Invest the Difference: The Consumer s Viewpoint 263
Universal Life Insurance 264
Variable Life Insurance 267
Other Types of Insurance Contracts 267
Summary 268
17 ANNUITIES 273
Introduction 273
Definitions 274
Classification of Annuities 275
Determination of Annuity Benefits 279
Uses of Annuities 280
Taxation of Annuities 282
Summary 282
18 LIFE INSURANCE PLANNING 285
Introduction 285
The Economic Value of the Human Life 286
The Needs Based Purchase of Life Insurance 286
Life Insurance Planning 288
The Early Adult Years 288
Life Insurance Planning: The Middle Years 294
Life Insurance Planning: The Later Years 295
Business Uses of Life Insurance 296
The Taxation of Life Insurance 297
Summary 298
19 STANDARD LIFE INSURANCE CONTRACT PROVISIONS AND OPTIONS 303
Introduction 303
General Life Insurance Policy Provisions 304
Four Options Providing the Insured with Choices 308
Available Riders and Options 310
Summary 312
20 SIMPLIFIED LIFE INSURANCE MATHEMATICS 316
Introduction 316
Mortality Tables 317
xii Contents
Some Simplifying Assumptions 322
Single Premium, One Year Term Insurance 322
Single Premium, Five Year Term Insurance 323
Single Premium, Whole Life Insurance 328
Leveling the Whole Life Premium 330
Cost of Life Insurance 332
Summary 334
21 HEALTH AND DISABILITY INSURANCE 337
Introduction 337
Background Information 338
Increasing Health Care Costs 339
Common Contract Provisions 341
Five Kinds of Health Insurance Coverage 343
Health Insurance Providers 348
Summary 350
Part Six
The Government and Insurance
22 EMPLOYEE BENEFITS 353
Introduction 353
The Goals of the Government, Employer, and Employee 355
Insured Employee Benefits 357
Group Life Insurance 358
Group Disability Income Insurance 360
Group Health Insurance 360
General Provisions of Group Health Insurance Contracts 363
Insured Pension Plans 364
Summary 369
Appendix: Tax Deferral 371
23 SOCIAL SECURITY 374
Introduction 374
A Brief History of Social Insurance 374
The Current Social Security Program 378
Some Current Concerns About the Operation of the Social Security System 385
Summary 385
24 UNEMPLOYMENT AND WORKERS COMPENSATION INSURANCE 388
Introduction 388
Unemployment Insurance 389
Workers Compensation 393
Contents xiii
25 INSURANCE REGULATION 402
Introduction 402
Insurance Regulation 402
The Reasons for Insurance Regulations 403
State or Federal Regulation 406
Regulated Activities 412
Summary 417
Appendix: The McCarran Act (P.L. 15) 419
GLOSSARY 421
APPENDIX A: HOMEOWNERS INSURANCE POLICY 441
APPENDIX B: PERSONAL AUTO POLICY 459
APPENDIX C: SAMPLE WHOLE LIFE INSURANCE POLICY
AND APPLICATION 471
INDEX 489
|
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| indexdate | 2024-07-09T17:47:01Z |
| institution | BVB |
| isbn | 0135039053 |
| language | English |
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| physical | XXI, 496 S. graph. Darst. |
| publishDate | 1994 |
| publishDateSearch | 1994 |
| publishDateSort | 1994 |
| publisher | Prentice-Hall |
| record_format | marc |
| series2 | The Prentice-Hall series in security and insurance |
| spelling | Dorfman, Mark S. Verfasser aut Introduction to risk management and insurance Mark S. Dorfman 5. ed. Englewood Cliffs, NJ Prentice-Hall 1994 XXI, 496 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier The Prentice-Hall series in security and insurance Bis 4. Aufl. u.d.T.: Dorfman, Mark S.: Introduction to insurance Risicoanalyse gtt Verzekeringswezen gtt Insurance Risk (Insurance) Risk management Versicherung (DE-588)4063173-4 gnd rswk-swf Risikomanagement (DE-588)4121590-4 gnd rswk-swf Risikomanagement (DE-588)4121590-4 s Versicherung (DE-588)4063173-4 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006727056&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Dorfman, Mark S. Introduction to risk management and insurance Risicoanalyse gtt Verzekeringswezen gtt Insurance Risk (Insurance) Risk management Versicherung (DE-588)4063173-4 gnd Risikomanagement (DE-588)4121590-4 gnd |
| subject_GND | (DE-588)4063173-4 (DE-588)4121590-4 |
| title | Introduction to risk management and insurance |
| title_auth | Introduction to risk management and insurance |
| title_exact_search | Introduction to risk management and insurance |
| title_full | Introduction to risk management and insurance Mark S. Dorfman |
| title_fullStr | Introduction to risk management and insurance Mark S. Dorfman |
| title_full_unstemmed | Introduction to risk management and insurance Mark S. Dorfman |
| title_short | Introduction to risk management and insurance |
| title_sort | introduction to risk management and insurance |
| topic | Risicoanalyse gtt Verzekeringswezen gtt Insurance Risk (Insurance) Risk management Versicherung (DE-588)4063173-4 gnd Risikomanagement (DE-588)4121590-4 gnd |
| topic_facet | Risicoanalyse Verzekeringswezen Insurance Risk (Insurance) Risk management Versicherung Risikomanagement |
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