Wright Air Conditioning Company Case Study

1326 Words 6 Pages
Companies, people are exposed in various risks, risk management’s job is to identify the risk and determine which method we should do. There are the tasks that a risk manager would perform at their job: identify the value of the assets, what risks might occur, and how much are the losses; decide whether to purchase insurance coverages, transfer, or to avoid them. The goals of risk management are to minimize the losses and expenses in the worst case scenario. Risk managers are responsible for managing the risk of the firms, employees, customers, assets, etc. In the following, I will analyze and make recommendations about Mr. Wright and Mrs. Wright case.
I would like to start off with the Wright Air Conditioning company. First, Wright Air Conditioning
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To prevent such problems, company could use a dedicated server, and restrict employee access to customer information. Other than those that are supposed to work with the information, other employees should not have access to those files.
Fourth, new large customers have a tough contract calling for Wright to name and indemnify them. Indemnify agreement is Wright Air Conditioning will be liable for any harm that occurs caused from their services. The clients will be hold harmless from liability when it arise. I suggest that Mr. Wright and you should consider only accept indemnify when the agreement indicated that your company have 100 percent control of the job site. You are not responsible when somebody else not in the company mess with the heater and
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As I has been informed that you and Mr. Wright are the heads of the family with two children that are still attending school. You both should consider purchasing life insurances. Because in worst case scenario, you both got in an accident and no longer around; it will be a substantial loss for your children’s emotionally and financially. Purchasing a whole life insurance will at least cover those financial losses your children will face after your loss. Whole life insurance provides life time protection in cash value. In addition, in case of Mr. Wright get injured and might not able to work anymore, you can purchase a disability policy. Because under whole life insurance, the cover only apply when Mr. Wright is dead. Being the head of the family, personal disability policy gives Mr. Wright such income protection, so that your children’s education would be protected

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