This website uses cookies to ensure you have the best experience. Learn more

Risk Mangement Essay

4031 words - 17 pages

FACULTY OF MANEGEMENT
TRIMESTER 3, 2012/2013

BFN 2094
Corporate Risk Management
Lecturer: Miss. Kwan Jing Hui

Major Assignment
Commercial Property Insurance

NAME | STUDENT ID |
Yap Shoon Eu | 1102700243 |
Tan Yi Ling | 1102700899 |
Lee Jia Kee | 1102701272 |
Kong Yoong Kwang | 1102701903 |
Cho Der Hwa | 1102700103 |
Loh Jian Li | 1102701693 |

Contents

1.0 Overview and Objectives 1
1.1 Objectives ……………………………………………………..1
1.2 Overview………………………………………………………2
2.0 Scope of Coverage and Pricing Policy 3
2.1 Scope of Coverage………………………….…………………3
2.2 Pricing Policy…………………………………………………7
3.0 Relation to Current Practice in Malaysia 11
4.0 The Growth of ...view middle of the document...

Fire consequential loss is an insurance that have to taken up together with fire insurance. It provides coverage against financial loss as a result of fire and its insured danger covered under the fire insurance.
If your property was robbed, Burglary & Robber Insurance will covers the loss or damage that caused by burglary or robbery. Burglary & Robber Insurance covers the loss of damage to the insured items, as well as damage caused to the building or any stuffs of the premises. Plate Glass Insurance provides cover for breakages of any plate glass including any writing or decoration due to any incident. This insurance also compensates for any boarding up required pending the replacement of the broken glass.
Employers' Liability Insurance provides indemnity to the Insured against liability at law for compensation costs of body injured or illness sustained by any person who under a contract of a company. Public Liability Insurance is an insurance to covers the compensation of accidental body injury or accidental damage to the public that caused by negligence of the insured or employees or by any defect in the premises owned.
In Malaysia, only Tokio Marine Group provided all the Commercial Property Insurances. Meanwhile AIA Malaysia, OCAC and Zurich Insurance provided few parts of Commercial Property Insurances and other insurers didn’t provide any of it.

1.2 Objective
Commercial Property Insurance help businesses pay to repair or replace buildings, structures, and contents that are damaged, destroyed, or lost that caused by different situations. Commercial property insurance will cover the loss under these few situations: man-made disasters, natural disasters and decline in property value.
Man-made disasters are those disasters that caused by human being, for example vandalism, theft, robber, fire and so on. If one of these happened to your business property, the insurance will covers all the lost.
In some countries, there are a lot of natural disasters, such as earthquake, hurricane, tornado, blizzard and so on. Although in Malaysia there is no earthquake or blizzard, however, thunderstorm, landslip and tsunami are always happen in our countries and these natural disasters can bring a huge lost to us. Thus, commercial property insurance helps us to cover the lost that caused by the natural disasters.
Commercial property insurance also covers the loss of depreciation of property value. For example, if you bought a property in an area and the area happened some tragedy like murder or accident and caused the value of property in that area declined, commercial property insurance will covers the loss of it.

2.0 Scope of Coverage and Pricing Policy
2.1 Scope of Coverage
Commercial property insurance policies generally fall into three categories which are basic form policies, the broad form policies and special form policies.
* Basic form policies
-Usually cover common risks such as damaged caused by fire,...

Other assignments on Risk Mangement

Hospitals Paper

6014 words - 25 pages I hope to provide in this paper a comprehensive understanding for what the term “hospital” has become. Hospitals are an extremely complex system that man has created and shaped and reshaped throughout history. My goal in writing and researching this paper will be to provide those who read it a clear understanding on how the hospital system got to where it is today, and to shed some light on the many organizations that affiliate with and

Course Syllabus Essay

2610 words - 11 pages [pic] COURSE SYLLABUS Semester: Fall, Year: 2012  College Mission Statement Richard J. Daley College provides high-quality education which leads to academic success, career development, and personal enrichment that fulfill diverse community needs. Mathematics Department Mission Statement Our mission is to deliver excellent service and to provide learning opportunities by offering a wide range of mathematics courses, which will help our

Management

1477 words - 6 pages Boeing Management Planning Heather Oetzel MGT 330 October 22, 2012 Joe Cheng Abstract Boeing is known as “the world’s leading aerospace company and the largest manufacturer of commercial jetliner and military aircraft combined ("The Boeing Company: About Us", 2012). Every company uses different types of management techniques including how the planning function of management is used. Planning allows organizations to develop how the

Assisted Suicide

1015 words - 5 pages should be up to the individual. It is acceptable to take a life in self-defense. It is acceptable to send soldiers into war to die and kill to achieve certain ends. It is acceptable to risk human life in missions into space. It’s acceptable to take a fetus’s life when the fetus is not wanted. And, it is considered acceptable by some, actually many conservatives that oppose euthanasia to execute criminals. Clearly, life is not inviolable in modern

Tanglewood Case 1

797 words - 4 pages Tanglewood’s staffing strategy requires the organization to make key decisions about the acquisition, deployment, and retention of the organization’s workforce. In order to accomplish this, Tanglewood’s must make thirteen decisions regarding its staffing levels and its staffing quality. One of the first decisions that Tanglewood needs to choose is to acquire or develop talent. Tanglewood should try to develop their current talent because one

Nnnnn

1391 words - 6 pages Есе по въпроса: Кои от всички „действащи” лица могат да се разглеждат като морално отговорни и в какво именно? по казуса Форд „Пинто” Корпоративните злодеяния са нанесли повече вреди на обществото от всички улични престъпления взети заедно. Според данни на ФБР сумата от уличните престъпления възлиза на $3.8 млрд. годишно, а загубите от корпоративните измами между $100 млрд. и $400 млрд. годишно

The Penis

1052 words - 5 pages The short story ”The Penis” is written by Hanif Kureishi. The short story is about a penis, which has been separated from its owner Doug, who we hear from later on. At first though we hear about a guy called Alfie who was “a cutter – a hairdresser – and had to get to work”. He is having breakfast with his wife, when she asks him what he did last night, and if he had a good time last night? Alfie can not remember what he did last night, he then

Managed Care Paper

543 words - 3 pages Managed Care and Case Management Care Marvin Lloyd BSHS/402-Case Management 27 August 2012 Virgil Miller Managed Care are techniques employed to help reduce the cost for providing health benefits and a system for improving organizations quality of care

Media

439 words - 2 pages The life expectancy is lower; so people are not kept alive with drugs for decades in a virtual sleep state. There is less state education; so kids don't have it drilled into them that their only goal in life is to make money, at the cost of 'everything' else. The health care is less; so diseases, usually brought by Westerners, kill many more than they do in countries where drug companies can make a fortune from selling medicines that aren't

Chapter 6 International Business

7113 words - 29 pages prices for magnesium-based products. Some students may suggest that by imposing the duties, the United States runs the risk of retaliatory measures from both China and Russia. Closing Case: Agricultural Subsidies Summary The closing case examines the effects of subsidies paid to U.S. cotton farmers. The United States currently pays about $5 billion to cotton farmers for a crop that is worth just $4 billion. The lower prices resulting

Scope And Goals

279 words - 2 pages Introduction: Kudler Fine Foods is a specialty food store based in San Diego, California with its three locations in La Jolla, Del Mar, and Encinitas. Kudler Fine food prides itself on offering fresh and organic products that are carefully selected from local farmers and around the world. The organization has recently taken the initiative to start a Frequent Shopper Program to market and increase sales. This program will offer the customers a

Similar Documents

Mgmt 591 Final Exam With Answers

4148 words - 17 pages mangement and the the employess ,i can say the most significant gaps are between management ideal results and theactual result in the fillowing points : 1- Humanistic-Encouraging the gaps between the employess and management is 57 while as we notice the Typical Ideal Results are 85 which really inicate how low the emplyee reects an interest in the growth and development 34 % .2- Affiliative : the gap between mangment and emlpoyess is 55 while

Mgt216 Essay

714 words - 3 pages . The question at hand is to warn and give the consumers information to provide them about the contaminant. The course of action was to disseminate the information about the risk for specific groups of people in the area. My first concern was to address the contaminated product and decided to provide the consumers with information on the increased risk to allow them to make an informed choice. Consumers have the right to know about the risk they

Economy Effect Of Marijuana Essay

277 words - 2 pages Modern American History by Alan Renga 2nd Mid Term! You will be given 3 Short Essay questions and 20 Multiple Choice questions deriving from this list! 80 points total! The 1920s Warren Harding then Calvin Coolidge Tea Pot Dome 1st Red Scare Immigration Restriction, Sacco and Vanzetti Langston Hughes, Marcus Garvey, KKK Prosperity, advertising Prohibition, Al Capone Flappers, Clara Bow, Rudolph Valentino Babe Ruth, Jack Dempsey

The Vc Shakeout Essay

2033 words - 9 pages that risk adjustment should include a premium for nonliquidity. If IPOs are harder to create and take longer to achieve, then VCs will need to pay the premium and IRR, ceteris paribus, will fall. That means VCs are now in the unenviable position of offering investors higher-risk, lower-yield investment opportunities. What’s more, VCs are losing their ability to attract the entrepreneurs that will generate better returns. They’ve fallen short in