This book is intended for the Risk Management and Insurance course where Risk Management is emphasized.
When we think of large risks, we often think in terms of natural hazards such as hurricanes, earthquakes or tornadoes Perhaps man-made disasters come to mind such as the terrorist attacks in the U.S. on September 11, 2001. Typically we have overlooked financial crises, such as the credit crisis of 2008. However, these types of man-made disasters have the potential to devastate the global marketplace. Losses in multiple trillions of dollars and in much human suffering and insecurity are already being totaled, and the global financial markets are collapsing as never before seen.
Risk management will be a major focal point of business and societal decision–making in the 21st century. A separate focused field of study, it draws on core knowledge bases from law, engineering, finance, economics, medicine, psychology, accounting, mathematics, statistics and other fields to create a holistic decision-making framework that is sustainable and value- enhancing. This is the subject of this book.
Also available from here: https://saylordotorg.github.io/text_risk-management-for-enterprises-and-individuals/index.html
Table of Contents
Chapter 1: The Nature of Risk: Losses and Opportunities
Chapter 2: Risk Measurement and Metrics
Chapter 3: Risk Attitudes: Expected Utility Theory and Demand for Hedging
Chapter 4: Evolving Risk Management: Fundamental Tools
Chapter 5: The Evolution of Risk Management: Enterprise Risk Management
Chapter 6: The Insurance Solution and Institutions
Chapter 7: Insurance Operations
Chapter 8: Insurance Markets and Regulation
Chapter 9: Fundamental Doctrines Affecting Insurance Contracts
Chapter 10: Structure and Analysis of Insurance Contracts
Chapter 11: Property Risk Management
Chapter 12: The Liability Risk Management
Chapter 13: Multirisk Management Contracts: Homeowners
Chapter 14: Multirisk Management Contracts: Auto
Chapter 15: Multirisk Management Contracts: Business
Chapter 16: Risks Related to the Job: Workers' Compensation and Unemployment Compensation
Chapter 17: Life Cycle Financial Risks
Chapter 18: Social Security
Chapter 19: Mortality Risk Management: Individual Life Insurance and Group Life Insurance
Chapter 20: Employment-Based Risk Management (General)
Chapter 21: Employment-Based and Individual Longevity Risk Management
Chapter 22: Employment and Individual Health Risk Management
Chapter 23: Cases in Holistic Risk Management
