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