Relacionar Columnas Risk management matrixVersión en línea Risk management matrix por Ryan Brown 1 4th step in The claims process 2 High High 3 2nd part of Parts of an Insurance Contract 4 4th part of Parts of an Insurance Contract 5 1st step in The claims process 6 6th part of Parts of an Insurance Contract 7 2nd step in The claims process 8 High Low 9 3rd step in The Risk Management Process 10 Low Low 11 2nd step in The Risk Management Process 12 Low High 13 5th part of Parts of an Insurance Contract 14 1 step in The Risk Management Process 15 3rd step in The claims process 16 1st Parts of an Insurance Contract 17 4th step in The Risk Management Process 18 3rd part of Parts of an Insurance Contract Exclusions: list of property, losses, and/or perils not covered by the policy. Identify the loss exposures determine the value of the loss Measure and analyze the loss exposures Conditions: provisions that limit or qualify the insurer’s promise to perform. (e.g. “we will not be liable if…” or “coverage is suspended if…”) Miscellaneous Provisions: catch-all category … how subrogation is handled, termination rights, how valuation disputes are resolved, etc. Select the appropriate risk treatment method(s) Retention Risk Control pay the claim (if covered) and assist the insured Implement, monitor, and adjust the risk treatment plan as necessary verify that a loss occurred Declarations: statements about the life, activity, or property that is insured. Usually the first page of the contract (the “dec page”). determine if the loss is covered Definitions: a glossary of key terms and how the terms are defined. Why is this section needed? Avoidance Insuring Agreement: summary of the major promises of the insurer. It can be “all-risks” (aka “open perils”) or “named-perils” Transfer
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