Risk Management And Insurance

1- How does insurance redistribut the costs of losses?

2- In the property and libility insurance industry, describe the differences between prosnal lines insurance and commercial lines insurance. Give two examples of each

3- What is the definition of a catastrophic loss?

4- Describe the difrernt between an insurance agent and an insurance broker. Are these difference important to the insurance consumer?

5- Describe the functions carried out by actuarises in most insurance companies.

Case

Describe the position of the National Association of Mutual Insurance Companies on some recent issue such as the government provision of catastrophic insurance coverage. Start at this site: (http://www.namic.org/).