Uninsurable Risk

Insuring Property

Commercial property insurance, Vehicle insurance

What are several things businesses can do to manage risks?

Inform everyone in the business of the types of risks that are particularly important to their part of the operations. Implement measures to gather information and spot possible problems. Inspect facilities and equipment. Be active in local communities. Build relationships with government officials.

What are the three major areas that can be covered by business insurance? What are the three major areas that can be covered by business insurance?

Personnel, Property Business operations

What is Risk?

Risk is the possibility of incurring a loss.

Why do U.S. companies have difficulty enforcing intellectual property rights in some international markets?

Some countries do not enforce property rights laws that protect intellectual property, patents, trademarks, or copyrights, especially when the products of a foreign company are involved.

What information should be considered when selecting an insurance company?

When selecting an insurance company, you should collect information about the type and cost of insurance and the quality of service provided by the company if a loss occurs.

Four Ways Business Can Deal With Risk

Avoiding the risk, Transferring the risk, Insuring the risk, Assuming the risk

Insuring business operations

Business interruption insurance, Liability insurance

Uninsurable risk factors

Economic conditions, Consumer demand, Competitors' actions, Technology changes Local factors, Business operations

Insuring personnel

Health insurance, Disability insurance, Life insurance