City Bus Corporation provides school bus transportation to public schools in Lancaster County. City Bus owns 50 buses that are garaged in three different cities within the county. The firm faces competition from two larger bus companies that operate in the same area. Public school boards gener- ally award contracts to the lowest bidder, but the level of service and overall performance are also considered. b. Identify the major loss exposures faced by City Bus. c. For each of the loss exposures identified in (b), identify a risk management technique or combina- tion of techniques that could be used to handle the exposure. d. Describe several sources of funds for paying losses if retention is used in the risk management a. Briefly describe the steps in the risk management process that should be followed by the risk manager of City Bus. program. e. Identify other departments in City Bus that would also be involved in the risk management program.
City Bus Corporation provides school bus transportation to public schools in Lancaster County. City Bus owns 50 buses that are garaged in three different cities within the county. The firm faces competition from two larger bus companies that operate in the same area. Public school boards gener- ally award contracts to the lowest bidder, but the level of service and overall performance are also considered. b. Identify the major loss exposures faced by City Bus. c. For each of the loss exposures identified in (b), identify a risk management technique or combina- tion of techniques that could be used to handle the exposure. d. Describe several sources of funds for paying losses if retention is used in the risk management a. Briefly describe the steps in the risk management process that should be followed by the risk manager of City Bus. program. e. Identify other departments in City Bus that would also be involved in the risk management program.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section: Chapter Questions
Problem 30P
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City Bus Corporation provides school bus transportation to
public schools in Lancaster County. City Bus owns 50 buses
that are garaged in three different cities within the county.
The firm faces competition from two larger bus companies
that operate in the same area. Public school boards gener-
ally award contracts to the lowest bidder, but the level of
service and overall performance are also considered.
b. Identify the major loss exposures faced by City Bus.
c. For each of the loss exposures identified in (b),
identify a risk management technique or combina-
tion of techniques that could be used to handle the
exposure.
d. Describe several sources of funds for paying
losses if retention is used in the risk management
a. Briefly describe the steps in the risk management
process that should be followed by the risk manager
of City Bus.
program.
e. Identify other departments in City Bus that would
also be involved in the risk management program.
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