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Topic: Insurable risk

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	About risk - risk definition, what is risk, uncertainty, peril, hazard, risk scale, risk level, burden of risk (Site not responding. Last check: 2007-11-06)
		Risk is a condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for.
		When risk is defined as the possibility of an adverse deviation from a desired outcome that is expected or hoped for, the degree of risk is measured by the probability of the adverse deviation.
		In the case of aggregate exposures, the degree of risk is not the probability of a single occurrence or loss; it is the probability of some outcome different from that predicted or expected.
	www.ausriskservices.com.au /risk/about_risk.htm (3125 words)

	Risk Management Reports - January, 1994
		Risk management is all of these and more - it is the discipline of learning how to live with the possibilities that future events may cause harm.
		Their risks are already sufficiently diversified and their financial resources should be a sound or better than most of the insurers theu would use.
		Risk management defines these risks, the degree to which they are under control, and the means of reducing their present and future costs.
	www.riskreports.com /protected/archive/rmr0194.html (2476 words)

	Risk Management Lexicon (Site not responding. Last check: 2007-11-06)
		The simulation is based on risks which are identified and quantified as probability distributions at a detailed level of the project such as the activity level of a schedule or a low-level WBS cost element.
		Risk neutrality may be defined as making decisions based on the expected value of alternative actions, such as a large company with many projects or an insurance company may do.
		Risk aversion is common, however, among organizations for which the impact of the risk is substantial (e.g., bankruptcy, loss of a prized customer) and extra contingency may be required in this case.
	www.risksig.com /lexicon.htm (4422 words)

	Floods – an insurable risk? (Site not responding. Last check: 2007-11-06)
		Although flood disasters are increasing in terms of both size and frequency, cover against this risk is not available in many places.
		The publication entitled "Floods – an insurable risk?" deals with this question in detail.
		The study examines the aspect of insurance, discusses the principles of insurability and presents possible risk assessment approaches.
	www.swissre.com /INTERNET/pwswpspr.nsf/alldocbyidkeylu/WWIN-4V2BPU (138 words)

	Self Insurance 101 (Site not responding. Last check: 2007-11-06)
		Self insurance is only possible for a truly insurable risk, meaning a risk that is measurable enough in the aggregate to be able to accurately estimate the amount that needs to be set aside.
		For a risk to be insurable, it must have a few characteristics, one is essentially needs to involve a large number of similar risks, so that the aggregate risk can be measured according to the law of large numbers.
		The idea of self insurance is that by retaining, calculating risks, and paying the resulting claims or losses, the overall process is cheaper than could be done by paying an insurance company to do it, because the company self insuring does not have to pay the profit component to the insurer.
	www.juiceenewsdaily.com /1004/news/self.html?1130707771671 (442 words)

	Insurance and Risk Management
		Risk avoidance simply means that an individual can evade certain risks merely by staying away from the risk that one chooses not to incur.
		The transfer of risk simply means that individuals who are unable, or unwilling, to bear a particular loss may transfer this uncertainty to a third party, usually an insurance company, who is prepared to accept the risk.
		Risk transfer is the most common method of managing large risks and this is the topic of the current chapter.
	www.geocities.com /larrystubbs/insurance.htm (4919 words)

	You Can Manage Risk Like Fortune 500 Companies
		Risk may be equated to uncertainty which may be equated statistically to the variance of actual losses from probable losses.
		In the combination or insurance method of handling risk, statistics and the "law of large numbers" are used to greatly reduce or practically eliminate the risk by combining a large number of exposure units so that the probable variance of actual losses from expected losses is minimized.
		In the transfer method of handling risk, the risk is transferred from one party to another party, but is not necessarily reduced as it usually is in insurance transfer.
	www.wsu.edu:8080 /~fieldim/paper.htm (959 words)

	Concept and ideology :: Islamic Insurance (Site not responding. Last check: 2007-11-06)
		The insurance company has little or no risk at all if this method is used properly When all of the individual objects are pooled into one group, the risk is no longer present, if the requisites of insurable risks are met with.
		This is a speculative risk and therefore, not insurable.
		However, all pure risks are not insurable as there are many situations that can cause loss where the loss a of large number does not operate satisfactorily.
	www.islamibankbd.com /page/ih_18.htm (9696 words)

	insurable risk (Site not responding. Last check: 2007-11-06)
		The insured must have an insurable interest in the subject of coverage; 4.
		The insured risks must belong to a sufficiently large group of homogeneous exposure units to make losses predictable; 5.
		The risk must not be subject to a catastrophic loss where a large number of exposure units can be damaged or destroyed in a single event; 6.
	insurance.cch.com /rupps/insurable-risk.htm (88 words)

	Risk Management - Sample Questions
		Risk management is defined as the art and science of _________ risk factors throughout the life cycle of a project.
		Risk may be transferred from the owner (buyer) to the contractor (seller) through a contractual vehicle.
		Risk of loss may be transferred to an insurance underwriter by means of an insurance policy.
	www.yancy.org /research/project_management/risk_sample_questions.html (3920 words)

	Insurable risk - Wikipedia, the free encyclopedia
		An insurable risk is a risk that meets the ideal criteria for efficient insurance.
		Insurance is not effective for risks that are not insurable risks.
		For example, risks that are too large cannot be insured, or the premiums would be so high as to make purchasing the insurance infeasible.
	en.wikipedia.org /wiki/Insurable_risk (267 words)

	Risk Management
		The relationship of risk and the project life cycle: the amount of uncertainty and risk is highest at the start of the project and lowest at the end of the project
		A qualitative analysis of risks and conditions is done to prioritize their affects on project objectives.
		Risks that arise as a result of implementing the contingency plan are called secondary risks.
	www.yancy.org /research/project_management/risk.html (1603 words)

	[No title] (Site not responding. Last check: 2007-11-06)
		Understanding Risk Risk is the variation, based on chance, in possible outcomes of an event.
		Insurable and Uninsurable Risks In general, most, but not all, pure risks are insurable and most speculative risks are not insurable.
		Risk management is the process of reducing the threat of loss due to uncontrollable events.
	www.hccs.cc.tx.us /perser/Component_Chapter_C.doc (2385 words)

	Self insurance - Wikipedia, the free encyclopedia
		Self insurance is possible for any insurable risk, meaning a risk that is predictable and measurable enough in the aggregate to be able to estimate the amount that needs to be set aside to pay for future uncertain probable losses.
		If the insurable event is one in a large number of similar risks, the aggregate risk can be estimated according to the law of large numbers and the probability of that event occurring in the future can be quantified.
		However, captives and self-insurance programmes are often designed to provide for a part of a risk that would be catastrophic to the business concerned, or catastrophic risks that are often commercially uninsurable, such as tobacco litigation liability risks.
	en.wikipedia.org /wiki/Self_insurance (763 words)

	SAQA
		Three undesirable risks are named and an indication is given of the conditions under which each could be insurable and when each would be regarded as non-insurable.
		The risks in a specific situation are analysed and classified in terms of insurable and non-insurable risk.
		The insurable risks are categorised in terms of the most appropriate type or class of insurance for each risk.
	regqs.saqa.org.za /viewUnitStandard.php?id=14994 (837 words)

	[No title]
		"Insurable Property" means builder's risk and real property at fixed locations in Coast area or the contents located therein, (but shall not include insurance on motor vehicles) which property is determined by the Association, after inspection and pursuant to the criteria specified in the Plan of Operation to be an insurable condition.
		Any person having an insurable interest in insurable property eligible for coverage in the Mississippi Windstorm Underwriting Association may be entitled to apply to the Association for such coverage and for an inspection of the property by the Inspection Bureau.
		In any case where a risk, not accepted because the property does not meet reasonable underwriting standards, can be improved to meet such standards, the Association shall promptly advise the applicant what improvements, noted in the action report, should be made to the property to make it acceptable.
	www.msplans.com /MWUA/Plan_of_Operations.htm (4037 words)

	Chapter 16
		Since variability is a measure of risk, it follows that greater financial leverage increases the level of risk associated with the leveraged venture.
		Risk is often viewed as the possibility of variance between assumptions and actual outcomes.
		Emotional risk takers are seemingly rendered blind to risk by the glare of expected return.
	www.dearborn.com /download/iared/chapter16.htm (1767 words)

	IRMI - The Importance of Calculating a Capital Charge for Insurable Risk Hedging Strategies
		The notion of risk capital, i.e., capital devoted to hedging the company's risk, is not a complicated concept, but until recently companies only thought of it as an expense and not a significant draw on the company's capital.
		Here is where we introduce how the concept of marginal utility reveals how any risk hedging strategy may prove to be more expensive and inefficient than originally thought, and how, if those inefficiencies are not discovered, the true cost of insurable risk for any company can prove to be very expensive.
		The amount of the capital charge for insurable risk depends on the relationships between three variable factors: premiums, retentions, and limitsâ€”and one constant: the percentage of insurance limits likely to be consumed when every loss is settled and closed.
	www.irmi.com /Expert/Articles/2007/Riggin02.aspx (2126 words)

	Earthquake Insurance: Risk and Financial Markets
		Even in the face of arguments by some in the insurance industry that hurricanes were an uninsurable risk that only government should underwrite, the Florida legislature opted to create a catastrophe reinsurance mechanism that relies upon the state's authority to issue bonds and accumulate reinsurance premiums paid by insurers.
		The most prominent is that catastrophe risk varies so dramatically among the states; thus designing a multi-state pool that is equitable for all participating states becomes problematic.
		Thus, states are faced with the potential of subsidizing high risk states through the creation of their own state funds (which do not now exist), as well as through reliance upon state bonds to help finance their participation.
	www.wsspc.org /Events/1998_Summit/eqiperspectives8.html (4096 words)

	[No title]
		I.e., we allow that the risk associated with the insurable asset can be adjusted not only by buying market insurance, but also by adjusting the size of the asset itself.
		Moreover, labor income risk creates an endogenous incentive to accumulate bu er-stock wealth which can be used to smooth fluctuations of the durable stock as well.
		In the case with labor income risk we have a grid of five states, i.e., the mean and ±2 standard deviations of labor income.
	www.huebnergeneva.org /documents/koeniger.txt (4024 words)

	Artemis - The Alternative Risk Transfer Portal (Site not responding. Last check: 2007-11-06)
		Retention of risk by the policyholder calculated by reference to the total of claims to be retained
		Generic phrase used to denote various non-traditional forms of re/insurance and techniques where risk is trasferred to the capital markets.
		Describes a risk management scheme which integrates financial and event risk within one program which is designed to anticipate all of a firms exposure to loss
	www.artemis.bm /html/glossary/index.htm (1212 words)

	Aon’s 2006/07 Australasian Risk Management and Total Cost of Insurable Risk Survey
		Aon experts predict business disruption and employee recruitment and retention will be amongst the key risk concerns for Australian executives next year - closely followed by climate variability.
		Participate in our Risk Survey - a unique study into the trends and costs associated with managing and financing risk.
		compare your total cost of insurable risk with your industry peers.
	www.aon.com.au /whats_new/tcoir.asp (133 words)

	The e-Insure Journal - Wednesday, July 23, 2003 Entries (Site not responding. Last check: 2007-11-06)
		Other risks are significant, like the loss of a house, auto or income due to disability or premature death.
		The risk of an automobile accident is insurable, while the risk that your carpeting will eventually wear out is not insurable.
		An insignificant risk, such as the risk that you'll lose a pocket comb, is not insurable.
	journal.einsure.com /archive/2003/07/23.aspx (843 words)

	War Coverage Discussion
		War is not an insurable risk under the traditional role of insurance.
		It may be possible to satisfy a lien holder by having the principal owners of the aircraft provide a letter of credit from an approved lending institution in the amount of the liability and hull coverage normally provided under the policy but practically speaking, this isn’t feasible.
		From a cost / benefit standpoint, although pricey, the war risk rates are not to the level of jeopardizing liquid assets simply to avoid the pain of the increased war premium.
	www.hopeaviation.com /exclusions.html (2179 words)

	Self Insurance: Spiris High Deductible / High Limit Stop Gap Insurance Policy "Coverage by Design" For Self Insured ...
		It is a risk management method where an eligible risk is retained, but a calculated amount of money is set aside to compensate for the potential future loss.
		Self insurance is only possible for a truly insurable risk, meaning a risk that is measurable enough to accurately estimate the amount needed to be set aside.
		For a risk to be insurable, it must have characteristics in common with a large number of similar risks, so that the aggregate risk can be measured according to the law of large numbers.
	www.spiris.com /self-insurance.htm (992 words)

	Draft Marine Insurance Act (Site not responding. Last check: 2007-11-06)
		(3) The owner of insurable property has an insurable interest in respect of the full value thereof, notwithstanding that some third person may have agreed, or be liable, to indemnify him in case of loss.
		(1) Where insurable property is expressly warranted neutral, there is an implied condition that the property shall have a neutral character at the commencement of the risk, and that, so far as the assured can control the matter, its neutral character shall be preserved during the risk.
		There is no implied warranty as to the nationality of a craft, or that her nationality shall not be changed during the risk.
	www.uctshiplaw.com /marins.htm (5443 words)

	Insurable Risks
		The risk must not be too catastrophic for the insurance company i.e.
		It must be possible to calculate the risk of a loss occurring.
		In the absence of any of these five conditions the risk is uninsurable.
	homepage.eircom.net /~businessclass/risks.htm (87 words)

	Risk - Heart 2 Head
		And by risk we are not talking about just health and safety or insurable risk but about the very real business risks to an organisation.
		We are well placed to help you improve your risk taking and risk management because we are truly independent, come with no conflicts of interest or hidden agendas and are experienced at working in complex, highly regulated and political environments.
		We have excellent track records in being part of or advising public, not for profit and private sector organisations with their risk taking and risk management arrangements.
	www.heart2head.com /sitemap/Risk.html (352 words)

	Insurance Basics
		Risk inhibits action and is highly subjective on an individual basis.
		For insurance to work as a risk reduction mechanism, insurers must be able to accurately predict losses.
		This means that he or she must stand to suffer a loss should the peril occur.
	www.uky.edu /~rforgue/fam304/notes/insurancebasicsoutline.html (418 words)

	Risk on Campus
		Welcome to Risk On Campus, your source for Solutions to the broad range of Risk Issues facing College and University Administrators, Managers, and Trustees.
		The Types of Risk page contains an expanded list of Areas of Risk, while the Glossary and Definitions page contains an expanded list of terms used in Understanding and Managing Risk.
		Risk On Campus materials, topics, and discussions are educational and informational.
	riskoncampus.com (135 words)

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