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16 Cards in this Set
- Front
- Back
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Risk
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Danger, hazard, or loss that is the result of an adventure, thrill, or physical exertion
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Risk Management
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The process of analyzing your exposure to risk and determining how to best handle the exposure.
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Purpose of Risk Management
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Analyzes
Establishes prevent most accidents |
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Benefits of Risk Management
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Increases safety for members
Reduces losses to the organization Allows for better use of a company’s time and money |
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Components of Risk Management
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Risk Identification
Risk Treatment Risk Implementation Risk Evaluation |
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Risk Management Tools
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Rules, and procedural manuals
Regular maintenance Waivers & participation agreements |
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Negligence
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Failure to take care of a person. There are certain expected standards that should be met and failure to meet these standards entails negligence.
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Gross Negligence
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Behavior that is reckless and willfully places another person in jeopardy. Therefore, gross negligence is a question of safety and care
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Torts
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"wrong." A tort occurs when someone deliberately or through carelessness causes harm or loss to another person or their property.
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Consequential damages
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Recovery of damages for breach of contract
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Compensatory damages
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Pays the plaintiff for loss, injury or harm
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Punitive damages
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Rewarded in order to reform or deter the defendant
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Legal fees
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Costs of legal representation
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Standard of Care
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A duty to use care in actions so as not to harm others.
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Breach of Duty
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Refers to a situation where negligence has occurred due to the fact that the responsible person has failed to use a Standard of Car
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3 kinds of Breach of Duty
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Nonfeasance - Failing to perform an act or duty required by the individual or company or law that results in harm or damage to a person or property – an ommission
Misfeasance- The improper performance of some act – typically in error Malfeasance - Intentionally doing something either illegal or morally wrong. It always involves dishonesty, illegality, or knowingly exceeding authority for improper reasons |
