Using both Chapter 3 and Chapter 4 as a resource and external research respond to the following:
Identifying the objectives of Risk Management as discussed in Chapter 3:
1. Identify a company and the industry that this company operates in (do not refer to or use the examples in the textbook – identify your own). (10 points)
2. Identify what the major and minor loss exposures are for this company (this will require you to conduct some research into this company). Be sure to at least three exposures and expand on each. (30 points)
3. Based on what you identify, analyze the loss exposure in terms of loss severity and loss frequency. (10 points)
Chapter 4 continues to discuss Risk Management expanding it to encompass all areas of an organization including Risk, financial risk, operational risk, strategic risk, hazard risk, and additional risks. Using the same company, research the following using both the concepts of the textbook and external research. Be sure to properly cite your sources at the end of your work.
4. What type of risk does your organization face based on the range of risks identified in Chapter 4. Expand on this risk with supporting information. Be sure to identify at least two risks. Expand on the risk.
****Once you identify the risks, what type of ERM programs can be put in place? Explain what type of risk (based on Chapter 4) you are referring to for your company. This section is worth (50 points)
Be sure to refer to the textbook and external research within your work. Your paper should be set up as a research paper using APA formatting, font 12, double spaced, with a works cited page. You paper should be minimally 3 pages in length not counting the cover sheet and works cited page. Please refer to the grading rubrics for quality written work to assist.
The title of the book is
Principles of risk management and insurance(14th edition)
