What Does Risk Imply?

Besides the product and geographical focus, Progressive also emphasizes on strengthening the relationship with the over 14,000 agents to distribute its products and services. By discipline pricing, Progressive demands adequate rates to achieve underwriting profitability and is willing to forego volume if necessary to achieve profit objectives. It is committed to set individual rates more accurately than the competitors. In addition, they will promptly respond to claims reported by local claim adjusters, which deliver effective control of the claim resolution process.

At risk has an unspoken meaning. At risk is synonymous with at-risk-youth in Western Culture. At risk is a phrase used in human services, the media, academia and government to identify young people who are troubling or on the fringe of risky behavior. If you do a Google search of the phrase at risk over 13 million images will appear most of which are of young people. Risk Discourse creates a risk society in response to specific populations being on the fringe of what is deemed “normal” within society. Risk discourse is a popular modernity term written at length by Modernist such as Ulrich Beck and Anthony Giddens European Sociologists. A Risk Society was not even a term until the 1980s. In the 1990s Risk Society became popular and it acceptance coincided with the infiltration of Risk Discourse into sociology, politics, literature and academia. There is an ongoing debate as to whether environmental concerns created a vacuum for a risk society or if it was a by-product of immigration and the War on Drugs. Either way Risk Discourse and risk society language terms are here to stay. Peter Kelly poses a question asking if young people are a society’s most precious resource then what does society need to do to adequately utilize this resource. He separates young people into categories of income, young people are exposed to high-risk setting more frequently than high income youths. Peter Kelly makes this separation to demonstrate there is inadequate research available on young

a. We were already lagging behind the market to begin with. Unless we give an increase in the basic

I. MULTIPLE CHOICE. 15 questions, each question is worth 1 point. Circle only one answer

The issue of risk scenario carries immense importance for most of the hospitals that are part of the healthcare setting. However, there is not only one scenario that can affect the hospitals but

a. A customer is complaining the stove she purchased is not working properly and wants a new one, but damage to the stove was her fault.

7. Which of the following must be true if a firm is experiencing economies of scale?

Among the five forces of competition; existing competitive rivalry between suppliers, threat of new market entrants, bargaining power of buyers, power of suppliers and threat of substitute products, the most significant for UnitedHealth Group are threats for substitute products and rivalry among competing firms. Given the fact that there are numerous healthcare insurance firms in the world; there are also a number of substitutes for the corporation products and services. In recent years, the banking industry has become involved in insurance activities. They provide some medical plans, which act as substitutes to the UnitedHealth Group products. Banc assurance, otherwise known as the bank insurance model, is a very common phenomenon in this global world. Banc assurance is an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank’s client base. This type of partnership can be profitable for both, the bank and the insurance company. Banks can earn additional revenue by selling the insurance products and insurance companies are

A typical mechanics of a UL policy is demonstrated as follows: a policy owner starts the contract by paying a flexible premium,

Defined by Coopers textbook, risk is the exposure to the consequences of uncertainty and has two elements: the likelihood of something happening that has an impact on the project objectives, and the positive or negative consequences of something impacting the project objectives (Cooper, Grey, Raymond, & Walker, 2005)

The self-insurance option main principal is aimed at improving a company’s operating profits by reducing premium costs. By assuming the role of an insurer, costs such as overheads for policy administration, assumption of risk and profit are retained by the self-insuring company. Self Insurance plans also avoid premium taxes and residual market loadings which are charged on insurer premiums and although these are normally charged on any excess or combined coverage’s, these are significantly less as the excess premiums are much lower than the full coverage equivalent.

Internet surfing might be at risk in this product as web commenced is in used.

develop a methodology for quantifying risks, or should each situation be addressed individually? Can we have both a quantitative and qualitative risk evaluation system in place at the same time?

Risk can be defined as “The possibility of a (negative) event occurring”. Risk and uncertainty go hand in hand. When you are certain about something that you do then there is less or no risk involved. There is more risk when there is uncertainty about a particular outcome and you still go for it.

The threat of substitutes could represent the most significant threat for OIC. With the presence of many other insurance companies that sell homogeneous life insurance products, customers have a wide range of options to choose from and the cost of switch is considerably low. Moreover, with many insurers in the UAE launching online policy purchasing portals it is highly important for OIC to invest in such application to be able to maintain their competitive