BOOK
Principles of Risk Management and Insurance, Global Edition
George E. Rejda | Michael McNamara
(2017)
Additional Information
Book Details
Abstract
For undergraduate courses in Risk Management and Insurance.
Principles and Practices: Managing Risk with Consumer Considerations
Redja’s Principles of Risk Management and Insurance provides an in-depth examination of major risk themes. Using rich and up-to-date content on the basic concepts of risk and insurance, and introductory and advanced topics in traditional and enterprise risk management, the text is relevant to a wide number of disciplines in the business realm.
Fully updated and revised, the Thirteenth Edition now covers global topics ranging from natural disasters and terrorism, to domestic issues like the ever-evolving Affordable Care Act and Healthcare Reform. Principles of Risk Management and Insurance sets itself apart by placing primary emphasis on insurance consumers and blends basic risk management and insurance principles with consumer considerations, allowing students to apply basic concepts to their own personal risk management and insurance programs.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Cover\r | Cover | ||
| Title Page\r | 3 | ||
| Copyright Page\r | 4 | ||
| Contents\r | 5 | ||
| Preface\r | 15 | ||
| PART ONE BASIC CONCEPTS IN RISK MANAGEMENT AND INSURANCE | 19 | ||
| CHAPTER 1 RISK AND ITS TREATMENT | 19 | ||
| Definitions of Risk | 20 | ||
| Chance of Loss | 22 | ||
| Peril and Hazard | 22 | ||
| Classification of Risk | 23 | ||
| Major Personal Risks and Commercial Risks | 25 | ||
| Burden of Risk on Society | 31 | ||
| Techniques for Managing Risk | 31 | ||
| Summary | 35 | ||
| Key Concepts and Terms | 36 | ||
| Review Questions | 36 | ||
| Application Questions | 36 | ||
| Internet Resources | 37 | ||
| Selected References | 38 | ||
| Notes | 38 | ||
| Case Application | 34 | ||
| INSIGHT 1.1: WHAT ARE YOUR CHANCES OF NOT BEING ABLE TO EARN AN INCOME? CALCULATE YOUR PERSONAL DISABILITY QUOTIENT | 28 | ||
| CHAPTER 2 INSURANCE AND RISK | 39 | ||
| Definition of Insurance | 40 | ||
| Basic Characteristics of Insurance | 40 | ||
| Characteristics of an Ideally Insurable Risk | 42 | ||
| Two Applications: The Risks of Fire and Unemployment | 44 | ||
| Adverse Selection and Insurance | 46 | ||
| Insurance and Gambling Compared | 46 | ||
| Insurance and Hedging Compared | 46 | ||
| Types of Insurance | 47 | ||
| Benefits of Insurance to Society | 51 | ||
| Costs of Insurance to Society | 52 | ||
| Summary | 56 | ||
| Key Concepts and Terms | 57 | ||
| Review Questions | 57 | ||
| Application Questions | 57 | ||
| Internet Resources | 58 | ||
| Selected References | 58 | ||
| Notes | 59 | ||
| Case Application | 56 | ||
| INSIGHT 2.1: EXAMPLES OF INSURANCE FRAUD—HALL OF SHAME | 53 | ||
| INSIGHT 2.2: HAVE YOU EVER COMMITTED INSURANCE FRAUD? THINK AGAIN | 55 | ||
| Appendix: Basic Statistics and the Law of Large Numbers | 60 | ||
| CHAPTER 3 INTRODUCTION TO RISK MANAGEMENT | 64 | ||
| Meaning of Risk Management | 66 | ||
| Objectives of Risk Management | 66 | ||
| Steps in the Risk Management Process | 66 | ||
| Benefits of Risk Management | 77 | ||
| Personal Risk Management | 77 | ||
| Summary | 80 | ||
| Key Concepts and Terms | 81 | ||
| Review Questions | 81 | ||
| Application Questions | 81 | ||
| Internet Resources | 82 | ||
| Selected References | 83 | ||
| Notes | 83 | ||
| Case Application | 79 | ||
| INSIGHT 3.1: BERMUDA LEADS GLOBAL CAPTIVE DOMICILES | 71 | ||
| INSIGHT 3.2: ADVANTAGES OF SELF-INSURANCE | 72 | ||
| CHAPTER 4 ENTERPRISE RISK MANAGEMENT AND RELATED TOPICS | 85 | ||
| Enterprise Risk Management | 86 | ||
| Insurance Market Dynamics | 92 | ||
| Loss Forecasting | 98 | ||
| Financial Analysis in Risk Management Decision Making | 100 | ||
| Other Risk Management Tools | 102 | ||
| Summary | 105 | ||
| Key Concepts and Terms | 105 | ||
| Review Questions | 106 | ||
| Application Questions | 106 | ||
| Internet Resources | 106 | ||
| Selected References | 107 | ||
| Notes | 107 | ||
| Case Application | 104 | ||
| INSIGHT 4.1: WEATHER FUTURES AND OPTIONS: FINANCIAL TOOLS THAT PROVIDE A MEANS OF TRANSFERRING RISK ASSOCIATED WITH ADVERSE WEATHER EVENTS | 97 | ||
| PART TWO THE PRIVATE INSURANCE INDUSTRY | 109 | ||
| CHAPTER 5 TYPES OF INSURERS AND MARKETING SYSTEMS | 109 | ||
| Overview of Private Insurance in the Financial Services Industry | 110 | ||
| Types of Private Insurers | 111 | ||
| Agents and Brokers | 116 | ||
| Types of Marketing Systems | 117 | ||
| Group Insurance Marketing | 120 | ||
| Summary | 121 | ||
| Key Concepts and Terms | 121 | ||
| Review Questions | 122 | ||
| Application Questions | 122 | ||
| Internet Resources | 123 | ||
| Selected References | 124 | ||
| Notes | 124 | ||
| Case Application | 121 | ||
| INSIGHT 5.1: SHOW ME THE MONEY—HOW MUCH CAN I EARN AS AN INSURANCE SALES AGENT? | 117 | ||
| CHAPTER 6 INSURANCE COMPANY OPERATIONS | 125 | ||
| Insurance Company Operations | 126 | ||
| Rating and Rate Making | 126 | ||
| Underwriting | 127 | ||
| Production | 130 | ||
| Claims Settlement | 131 | ||
| Reinsurance | 133 | ||
| Investments | 138 | ||
| Other Insurance Company Functions | 140 | ||
| Summary | 142 | ||
| Key Concepts and Terms | 142 | ||
| Review Questions | 143 | ||
| Application Questions | 143 | ||
| Internet Resources | 143 | ||
| Selected References | 144 | ||
| Notes | 145 | ||
| Case Application | 141 | ||
| INSIGHT 6.1: HOME OWNER’S FAILURE TO COOPERATE YIELDS DENIED CLAIM | 133 | ||
| INSIGHT 6.2: BE A SMART CONSUMER—CHECK THE CLAIMS RECORD OF INSURERS BEFORE YOU BUY | 134 | ||
| CHAPTER 7 FINANCIAL OPERATIONS OF INSURERS | 146 | ||
| Property and Casualty Insurers | 147 | ||
| Life Insurance Companies | 152 | ||
| Rate Making in Property and Casualty Insurance | 154 | ||
| Rate Making in Life Insurance | 158 | ||
| Summary | 159 | ||
| Key Concepts and Terms | 160 | ||
| Review Questions | 160 | ||
| Application Questions | 161 | ||
| Internet Resources | 162 | ||
| Selected References | 162 | ||
| Notes | 162 | ||
| Case Application | 159 | ||
| INSIGHT 7.1: HOW PROFITABLE IS THE PROPERTY AND CASUALTY INSURANCE INDUSTRY? | 153 | ||
| CHAPTER 8 GOVERNMENT REGULATION OF INSURANCE | 164 | ||
| Reasons for Insurance Regulation | 165 | ||
| Historical Development of Insurance Regulation | 166 | ||
| Methods for Regulating Insurers | 168 | ||
| What Areas Are Regulated? | 168 | ||
| State versus Federal Regulation | 174 | ||
| Current Issues in Insurance Regulation | 177 | ||
| Modernizing Insurance Regulation | 177 | ||
| Insolvency of Insurers | 180 | ||
| Market Conduct Regulation | 181 | ||
| Summary | 184 | ||
| Key Concepts and Terms | 185 | ||
| Review Questions | 185 | ||
| Application Questions | 185 | ||
| Internet Resources | 186 | ||
| Selected References | 186 | ||
| Notes | 187 | ||
| Case Application | 183 | ||
| INSIGHT 8.1: THE PROS AND CONS OF CREDIT-BASED INSURANCE SCORES | 182 | ||
| PART THREE LEGAL PRINCIPLES IN RISK AND INSURANCE | 188 | ||
| CHAPTER 9 FUNDAMENTAL LEGAL PRINCIPLES | 188 | ||
| Principle of Indemnity | 189 | ||
| Principle of Insurable Interest | 192 | ||
| Principle of Subrogation | 193 | ||
| Principle of Utmost Good Faith | 194 | ||
| Requirements of an Insurance Contract | 197 | ||
| Distinct Legal Characteristics of Insurance Contracts | 198 | ||
| Law and the Insurance Agent | 199 | ||
| Summary | 202 | ||
| Key Concepts and Terms | 203 | ||
| Review Questions | 203 | ||
| Application Questions | 203 | ||
| Internet Resources | 204 | ||
| Selected References | 204 | ||
| Notes | 204 | ||
| Case Application | 201 | ||
| INSIGHT 9.1: CORPORATION LACKING INSURABLE INTEREST AT TIME OF DEATH CAN RECEIVE LIFE INSURANCE PROCEEDS | 194 | ||
| INSIGHT 9.2: AUTO INSURER DENIES COVERAGE BECAUSE OF MATERIAL MISREPRESENTATION | 195 | ||
| INSIGHT 9.3: INSURER VOIDS COVERAGE BECAUSE OF MISREPRESENTATIONS IN PROOF OF LOSS | 196 | ||
| CHAPTER 10 ANALYSIS OF INSURANCE CONTRACTS | 206 | ||
| Basic Parts of an Insurance Contract | 207 | ||
| Definition of “Insured” | 209 | ||
| Endorsements and Riders | 211 | ||
| Deductibles | 211 | ||
| Coinsurance | 213 | ||
| Coinsurance in Health Insurance | 214 | ||
| Other-Insurance Provisions | 214 | ||
| Summary | 217 | ||
| Key Concepts and Terms | 217 | ||
| Review Questions | 218 | ||
| Application Questions | 218 | ||
| Internet Resources | 219 | ||
| Selected References | 219 | ||
| Notes | 219 | ||
| Case Application | 216 | ||
| INSIGHT 10.1: WILL YOUR AUTO INSURANCE COVER YOU WHEN YOU DRIVE ANOTHER PERSON’S CAR? | 210 | ||
| PART FOUR LIFE AND HEALTH RISKS | 220 | ||
| CHAPTER 11 LIFE INSURANCE | 220 | ||
| Premature Death | 221 | ||
| Financial Impact of Premature Death on Different Types of Families | 222 | ||
| Amount of Life Insurance to Own | 223 | ||
| Types of Life Insurance | 228 | ||
| Variations of Whole Life Insurance | 234 | ||
| Other Types of Life Insurance | 242 | ||
| Summary | 246 | ||
| Key Concepts and Terms | 247 | ||
| Review Questions | 248 | ||
| Application Questions | 248 | ||
| Internet Resources | 249 | ||
| Selected References | 250 | ||
| Notes | 251 | ||
| Case Application | 245 | ||
| INSIGHT 11.1: CASH-VALUE LIFE INSURANCE AS AN INVESTMENT—DON’T IGNORE TWO POINTS | 233 | ||
| INSIGHT 11.2: BE A SAVVY CONSUMER—FOUR LIFE INSURANCE POLICIES TO AVOID | 244 | ||
| CHAPTER 12 LIFE INSURANCE CONTRACTUAL PROVISIONS | 252 | ||
| Life Insurance Contractual Provisions | 253 | ||
| Dividend Options | 259 | ||
| Nonforfeiture Options | 261 | ||
| Settlement Options | 263 | ||
| Additional Life Insurance Benefits | 267 | ||
| Summary | 272 | ||
| Key Concepts and Terms | 273 | ||
| Review Questions | 274 | ||
| Application Questions | 274 | ||
| Internet Resources | 275 | ||
| Selected References | 276 | ||
| Notes | 276 | ||
| Case Application | 272 | ||
| INSIGHT 12.1: IS THIS DEATH A SUICIDE? | 255 | ||
| INSIGHT 12.2: SELECTION OF THE BEST DIVIDEND OPTION IN A PARTICIPATING WHOLE LIFE POLICY | 260 | ||
| INSIGHT 12.3: ACCELERATED DEATH BENEFITS—A REAL-LIFE EXAMPLE | 270 | ||
| INSIGHT 12.4: WHAT IS A LIFE SETTLEMENT? EXAMPLES OF ACTUAL CASES | 271 | ||
| CHAPTER 13 BUYING LIFE INSURANCE | 277 | ||
| Determining the Cost of Life Insurance | 278 | ||
| Rate of Return on Saving Component | 281 | ||
| Taxation of Life Insurance | 283 | ||
| Shopping for Life Insurance | 285 | ||
| Summary | 288 | ||
| Key Concepts and Terms | 288 | ||
| Review Questions | 288 | ||
| Application Questions | 289 | ||
| Internet Resources | 289 | ||
| Selected References | 290 | ||
| Notes | 290 | ||
| Case Application | 287 | ||
| INSIGHT 13.1: BE CAREFUL IN REPLACING AN EXISTING LIFE INSURANCE POLICY | 281 | ||
| Appendix: Calculation of Life Insurance Premiums | 291 | ||
| CHAPTER 14 ANNUITIES AND INDIVIDUAL RETIREMENT ACCOUNTS | 296 | ||
| Individual Annuities | 297 | ||
| Types of Annuities | 298 | ||
| Taxation of Individual Annuities | 305 | ||
| Individual Retirement Accounts | 306 | ||
| Adequacy of IRA Funds | 309 | ||
| Summary | 312 | ||
| Key Concepts and Terms | 313 | ||
| Review Questions | 313 | ||
| Application Questions | 314 | ||
| Internet Resources | 314 | ||
| Selected References | 315 | ||
| Notes | 315 | ||
| Case Application 1 | 311 | ||
| Case Application 2 | 312 | ||
| INSIGHT 14.1: ADVANTAGES OF AN IMMEDIATE ANNUITY TO RETIRED WORKERS | 299 | ||
| INSIGHT 14.2: BELLS AND WHISTLES OF VARIABLE ANNUITIES | 302 | ||
| INSIGHT 14.3: TEN QUESTIONS TO ANSWER BEFORE YOU BUY A VARIABLE ANNUITY | 306 | ||
| INSIGHT 14.4: WILL YOU HAVE ENOUGH MONEY AT RETIREMENT? MONTE CARLO SIMULATIONS CAN BE HELPFUL | 310 | ||
| CHAPTER 15 HEALTHCARE REFORM: INDIVIDUAL HEALTH INSURANCE COVERAGES | 316 | ||
| Defects in the Healthcare System in the United States | 317 | ||
| Basic Provisions of the Affordable Care Act | 322 | ||
| Individual Medical Expense Insurance | 328 | ||
| Individual Medical Expense Plans and Managed Care | 330 | ||
| Health Savings Accounts | 331 | ||
| Long-Term Care Insurance | 332 | ||
| Disability-Income Insurance | 336 | ||
| Individual Health Insurance Contractual Provisions | 339 | ||
| Summary | 341 | ||
| Key Concepts and Terms | 342 | ||
| Review Questions | 342 | ||
| Application Questions | 343 | ||
| Internet Resources | 343 | ||
| Selected References | 344 | ||
| Notes | 345 | ||
| Case Application | 341 | ||
| INSIGHT 15.1: HEALTH INSURANCE OPTIONS FOR COLLEGE STUDENTS UNDER THE AFFORDABLE CARE ACT | 325 | ||
| CHAPTER 16 EMPLOYEE BENEFITS: GROUP LIFE AND HEALTH INSURANCE | 346 | ||
| Meaning of Employee Benefits | 347 | ||
| Fundamentals of Group Insurance | 347 | ||
| Group Life Insurance | 349 | ||
| Group Medical Expense Insurance | 350 | ||
| Managed Care Plans | 352 | ||
| Affordable Care Act and Group Medical Expense Insurance | 354 | ||
| Key Features of Group Medical Expense Insurance | 356 | ||
| Consumer-Directed Health Plans | 357 | ||
| Recent Developments in Employer-Sponsored Health Plans | 358 | ||
| Group Medical Expense Contractual Provisions | 361 | ||
| Group Dental Insurance | 362 | ||
| Group Disability-Income Insurance | 363 | ||
| Cafeteria Plans | 364 | ||
| Summary | 366 | ||
| Key Concepts and Terms | 367 | ||
| Review Questions | 367 | ||
| Application Questions | 368 | ||
| Internet Resources | 369 | ||
| Selected References | 369 | ||
| Notes | 369 | ||
| Case Application | 365 | ||
| INSIGHT 16.1: BASIC CHARACTERISTICS OF THE SMALL BUSINESS HEALTH OPTIONS (SHOP) MARKETPLACE PROGRAM | 356 | ||
| CHAPTER 17 EMPLOYEE BENEFITS: RETIREMENT PLANS | 371 | ||
| Fundamentals of Private Retirement Plans | 372 | ||
| Types of Qualified Retirement Plans | 375 | ||
| Defined-Benefit Plans | 375 | ||
| Defined-Contribution Plans | 378 | ||
| Section 401(K) Plan | 379 | ||
| Section 403(B) Plan | 381 | ||
| Profit-Sharing Plans | 382 | ||
| Retirement Plans for the Self-Employed (Keogh Plans) | 382 | ||
| Simplified Employee Pension (SEP) | 382 | ||
| Simple IRA Plan | 383 | ||
| Saver’s Credit | 383 | ||
| Funding Agency and Funding Instruments | 384 | ||
| Problems and Issues in Tax-Deferred Retirement Plans | 385 | ||
| Summary | 387 | ||
| Key Concepts and Terms | 388 | ||
| Review Questions | 388 | ||
| Application Questions | 388 | ||
| Internet Resources | 389 | ||
| Selected References | 389 | ||
| Notes | 390 | ||
| Case Application | 386 | ||
| INSIGHT 17.1: SIX COMMON 401 (K) MISTAKES | 380 | ||
| CHAPTER 18 SOCIAL INSURANCE | 391 | ||
| Social Insurance | 392 | ||
| Old-Age, Survivors, and Disability Insurance | 394 | ||
| Types of Benefits | 395 | ||
| Medicare | 401 | ||
| Problems and Issues | 406 | ||
| Unemployment Insurance | 409 | ||
| Workers Compensation | 411 | ||
| Summary | 416 | ||
| Key Concepts and Terms | 416 | ||
| Review Questions | 417 | ||
| Application Questions | 417 | ||
| Internet Resources | 418 | ||
| Selected References | 419 | ||
| Notes | 419 | ||
| Case Application | 415 | ||
| INSIGHT 18.1: CLAIMING SOCIAL SECURITY BENEFITS-—-STRATEGIES FOR SINGLE PERSONS | 398 | ||
| INSIGHT 18.2: HOW WOULD YOU REDUCE THE LONG-RANGE SOCIAL SECURITY DEFICIT? | 407 | ||
| PART FIVE PERSONAL PROPERTY AND LIABILITY RISKS | 421 | ||
| CHAPTER 19 THE LIABILITY RISK | 421 | ||
| Basis of Legal Liability | 422 | ||
| Law of Negligence | 423 | ||
| Imputed Negligence | 425 | ||
| Res Ipsa Loquitur | 426 | ||
| Specific Applications of the Law of Negligence | 426 | ||
| Current Tort Liability Problems | 428 | ||
| Summary | 438 | ||
| Key Concepts and Terms | 438 | ||
| Review Questions | 439 | ||
| Application Questions | 439 | ||
| Internet Resources | 440 | ||
| Selected References | 440 | ||
| Notes | 441 | ||
| Case Application | 437 | ||
| INSIGHT 19.1: JUDICIAL HELLHOLES 2014–2015 | 431 | ||
| CHAPTER 20 AUTO INSURANCE | 443 | ||
| Overview of Personal Auto Policy | 444 | ||
| Part A: Liability Coverage | 445 | ||
| Part B: Medical Payments Coverage | 451 | ||
| Part C: Uninsured Motorists Coverage | 452 | ||
| Part D: Coverage for Damage to Your Auto | 456 | ||
| Part E: Duties after an Accident or Loss | 463 | ||
| Part F: General Provisions | 464 | ||
| Insuring Motorcycles and Other Vehicles | 465 | ||
| Summary | 466 | ||
| Key Concepts and Terms | 466 | ||
| Review Questions | 466 | ||
| Application Questions | 467 | ||
| Internet Resources | 468 | ||
| Selected References | 469 | ||
| Notes | 469 | ||
| Case Application | 465 | ||
| INSIGHT 20.1: WHAT DO RIDE SHARING AND CAR SHARING MEAN FOR PERSONAL AUTO INSURANCE? | 448 | ||
| INSIGHT 20.2: NEW STUDY REVEALS A DECLINING TREND IN THE PERCENTAGE OF UNINSURED MOTORISTS | 453 | ||
| INSIGHT 20.3: USING ELECTRONIC DEVICES WHILE DRIVING IS A SERIOUS PROBLEM | 460 | ||
| CHAPTER 21 AUTO INSURANCE (CONTINUED) | 471 | ||
| Approaches for Compensating Auto Accident Victims | 472 | ||
| Auto Insurance for High-Risk Drivers | 482 | ||
| Cost of Auto Insurance | 483 | ||
| Shopping for Auto Insurance | 487 | ||
| Summary | 491 | ||
| Key Concepts and Terms | 491 | ||
| Review Questions | 492 | ||
| Application Questions | 492 | ||
| Internet Resources | 493 | ||
| Selected References | 493 | ||
| Notes | 493 | ||
| Case Application | 490 | ||
| INSIGHT 21.1: FILING AN AUTO CLAIM WITH THE OTHER PARTY’S INSURANCE COMPANY | 476 | ||
| INSIGHT 21.2: PROTECT YOURSELF: INSURING YOUR TEEN DRIVER | 486 | ||
| INSIGHT 21.3: MORE FOLKS ARE TWEETING, TEXTING, AND TAKING PICTURES WHILE DRIVING: AT&T SURVEY | 489 | ||
| CHAPTER 22 HOMEOWNERS INSURANCE, SECTION I | 495 | ||
| Homeowners Insurance | 496 | ||
| Analysis of Homeowners 3 Policy (Special Form) | 500 | ||
| Section I Coverages | 501 | ||
| Section I Perils Insured Against | 507 | ||
| Section I Exclusions | 510 | ||
| Section I Conditions | 511 | ||
| Section I and II Conditions | 516 | ||
| Summary | 518 | ||
| Key Concepts and Terms | 518 | ||
| Review Questions | 518 | ||
| Application Questions | 519 | ||
| Internet Resources | 520 | ||
| Selected References | 521 | ||
| Notes | 521 | ||
| Case Application | 517 | ||
| INSIGHT 22.1: RENTERS INSURANCE CHECKLIST | 499 | ||
| INSIGHT 22.2: HOW DO I TAKE A HOME INVENTORY AND WHY? | 512 | ||
| INSIGHT 22.3: THE BIG GAP BETWEEN REPLACEMENT COST AND ACTUAL CASH VALUE CAN EMPTY YOUR WALLET | 513 | ||
| CHAPTER 23 HOMEOWNERS INSURANCE, SECTION II | 522 | ||
| Personal Liability Insurance | 523 | ||
| Section II Exclusions | 525 | ||
| Section II Additional Coverages | 529 | ||
| Section II Conditions | 530 | ||
| Endorsements to a Homeowners Policy | 531 | ||
| Cost of Homeowners Insurance | 534 | ||
| Summary | 538 | ||
| Key Concepts and Terms | 539 | ||
| Review Questions | 539 | ||
| Application Questions | 539 | ||
| Internet Resources | 540 | ||
| Selected References | 541 | ||
| Notes | 541 | ||
| Case Application | 538 | ||
| INSIGHT 23.1: DOG BITES HURT, SO DO LAWSUITS | 524 | ||
| INSIGHT 23.2: TRYING TO SAVE MONEY? AVOID THE FIVE BIGGEST INSURANCE MISTAKES! | 537 | ||
| CHAPTER 24 OTHER PROPERTY AND LIABILITY INSURANCE COVERAGES | 543 | ||
| ISO Dwelling Program | 544 | ||
| Mobile Home Insurance | 546 | ||
| Inland Marine Floaters | 547 | ||
| Watercraft Insurance | 548 | ||
| Government Property Insurance Programs | 549 | ||
| Title Insurance | 554 | ||
| Personal Umbrella Policy | 557 | ||
| Summary | 561 | ||
| Key Concepts and Terms | 561 | ||
| Review Questions | 562 | ||
| Application Questions | 562 | ||
| Internet Resources | 563 | ||
| Selected References | 564 | ||
| Notes | 564 | ||
| Case Application | 560 | ||
| INSIGHT 24.1: DISPELLING MYTHS ABOUT FLOOD INSURANCE | 553 | ||
| INSIGHT 24.2: TITLE INSURANCE: PROTECTING YOUR HOME INVESTMENT AGAINST UNKNOWN TITLE DEFECTS | 555 | ||
| INSIGHT 24.3: UMBRELLA INSURANCE POLICIES: WHY YOU MIGHT WANT THAT EXTRA PROTECTION | 558 | ||
| PART SIX COMMERCIAL PROPERTY AND LIABILITY RISKS | 566 | ||
| CHAPTER 25 COMMERCIAL PROPERTY INSURANCE | 566 | ||
| Commercial Package Policy | 567 | ||
| Building and Personal Property Coverage Form | 569 | ||
| Causes-of-Loss Forms | 572 | ||
| Endorsements | 572 | ||
| Reporting Forms | 574 | ||
| Business Income Insurance | 575 | ||
| Other Commercial Property Coverages | 578 | ||
| Transportation Insurance | 581 | ||
| Businessowners Policy (BOP) | 586 | ||
| Summary | 588 | ||
| Key Concepts and Terms | 589 | ||
| Review Questions | 589 | ||
| Application Questions | 590 | ||
| Internet Resources | 591 | ||
| Selected References | 592 | ||
| Notes | 592 | ||
| Case Application | 587 | ||
| INSIGHT 25.1: THREE COMMERCIAL PROPERTY ENDORSEMENTS THAT EVERY CLIENT SHOULD HAVE | 573 | ||
| INSIGHT 25.2: EXAMPLES OF EQUIPMENT BREAKDOWN CLAIMS: RECENT PAID CLAIMS | 580 | ||
| CHAPTER 26 COMMERCIAL LIABILITY INSURANCE | 594 | ||
| General Liability Loss Exposures | 595 | ||
| Commercial General Liability Policy | 596 | ||
| Employment-Related Practices Liability Insurance | 604 | ||
| Workers Compensation Insurance | 605 | ||
| Commercial Auto Insurance | 607 | ||
| Aircraft Insurance | 609 | ||
| Commercial Umbrella Policy | 611 | ||
| Cyber Liability Insurance | 612 | ||
| Businessowners Policy | 613 | ||
| Professional Liability Insurance | 613 | ||
| Directors and Officers Liability Insurance | 615 | ||
| Summary | 617 | ||
| Key Concepts and Terms | 618 | ||
| Review Questions | 618 | ||
| Application Questions | 619 | ||
| Internet Resources | 620 | ||
| Selected References | 620 | ||
| Notes | 621 | ||
| Case Application | 616 | ||
| INSIGHT 26.1: CYBER LOSS EXPOSURE—NO LONGER BREACHING THE CGL | 599 | ||
| INSIGHT 26.2: BASIC FACTS ABOUT WORKERS COMPENSATION | 606 | ||
| CHAPTER 27 CRIME INSURANCE AND SURETY BONDS | 623 | ||
| The ISO Commercial Crime Insurance Program | 624 | ||
| Commercial Crime Coverage Form (Loss-Sustained Form) | 625 | ||
| Financial Institution Bonds | 630 | ||
| Surety Bonds | 631 | ||
| Summary | 634 | ||
| Key Concepts and Terms | 635 | ||
| Review Questions | 635 | ||
| Application Questions | 635 | ||
| Internet Resources | 636 | ||
| Selected References | 637 | ||
| Notes | 637 | ||
| Case Application | 633 | ||
| INSIGHT 27.1: CRIME PREVENTION TIPS FOR SMALL BUSINESSES | 627 | ||
| Appendix A: Personal Auto Policy | 638 | ||
| Appendix B: Homeowners 3 (Special Form) | 652 | ||
| Glossary | 677 | ||
| Index | 696 | ||
| A\r | 696 | ||
| B\r | 697 | ||
| C\r | 698 | ||
| D\r | 701 | ||
| E\r | 702 | ||
| F\r | 703 | ||
| G\r | 704 | ||
| H\r | 705 | ||
| I\r | 707 | ||
| J\r | 708 | ||
| K\r | 709 | ||
| L\r | 709 | ||
| M\r | 710 | ||
| N\r | 712 | ||
| O\r | 713 | ||
| P\r | 713 | ||
| Q\r | 715 | ||
| R\r | 715 | ||
| S\r | 717 | ||
| T\r | 718 | ||
| U\r | 719 | ||
| V\r | 719 | ||
| W\r | 720 | ||
| Y\r | 720 |