Business insurance

An actuary is a business professional analyzes the financial cost of risks and uncertainty. They use their mathematic, statistics, and financial skills to study the risk that an event will occur and help businesses and clients develop policies that would minimize their cost of that risk. Actuaries are often work to the insurances industry. One of the main reason to choose this career is because I have a strong mathematic skills. I really enjoy the work that associate with problem solving and…

this, the courts have developed rules that have to be met, so as to ensure that only appropriate and applicable terms are incorporated into reinsurance contracts. As explained by Thomas (2015, p. 46), “In HIH Casualty & General Insurance Ltd v New Hampshire Insurance Co [2001] 1 Lloyd’s Rep IR 224, the judge at first instance set out various tests that had to be satisfied before a term would be incorporated…

With that being said, are there enough qualified personnel in every branch to make informed risk management and insurance decisions? Our solution consists of all insurance decisions be made collectively by all higher-level executives. One agent/consultant group should be hired to save fees and with correct hire, that agent/consultant will have enough resources to provide all adequate insurance coverage. Consolidation created one premium payment, one broker that knows the company inside and out,…

any industry. Some facts prove this from an article I found “89% of customers will pay 25% more for a better customer experience. 73% of consumers fall in love with a brand because of friendly employees or customer service reps. 89% of consumers do business with a competitor after a poor customer experience” (smallbiztrends.com). Based off of this information it just shows how important making your company core customer-centric when dealing with customer…

Strengths State Farm insurance is a well-known insurance company that has been around for nearly a decade. Many insurances companies have a limited life and cannot adapt to the rapidly high demanded market within the financial service industry. For a company to last as long as State Farm and with as much success is the result of many strengths. State Farms services almost seem endless when it comes to what policy holders can insure. People enjoy having options when possible and that’s…

when analyzing the email, online content, and phone systems. Bankers Life & Casualty is an insurance company subsidiary division of CNO Financial. The mission statement for CNO Financial states their goal is for “Providing financial security for the life, health, and retirement needs of Middle America” (CNO Financial Group, n.d.). However, Bankers Life offers a broad selection of life and health insurance products designed especially for Americans who are near or in retirement. As they have…

opportunities bubbling in the market. In order to capitalize the outside opportunities, one sales manager left the organization in January 2003. As the sales manager was a real performer, he was able to convince all the good performers at XYZ Moon Life Insurance to join the new company. As a result of this, the organizational structure got disturbed and the development officers, who were earlier reporting to the SM had started reporting directly to the branch manager. Now, nepotism crept in and…

headed in the right direction, I feel as if there are more effective procedures. Hiring armed security guards removes the cost a school would have to pay to train teachers. This will also eliminate the risk of schools being dropped from their insurance policies or having to pay more as a result of having armed teachers. Keeping weapons out of the classroom and into professionals’ hands removes the risk of students finding and firing weapons. The evidence is clear that having armed security…

transportation. In turn, you are entrusted to use good judgment and have a complete understanding of the responsibilities involved, both of which are necessary to continue to drive a company provided vehicle on company business. Any driver of a company vehicle (or driving on company business in any manner) must meet the following requirements: ■ Possess a valid driver’s license ■ Maintain an acceptable driving record per company policy ■ Follow the guidelines stated in this policy at all…

Moral Hazard can be easily defined as an individual or business will be more likely to take risks because the negative consequences of the risky behavior will be felt by another individual or business (Hill). For example an individual who gets their automobile insured might start speeding or other reckless driving behavior. That same person might let their insurance lapse and will continue to start driving safe once again. However, the insurance companies have already figured people will engage…