SOLUTIONS
?M
Risk Management
And Insurance 12th
ED
Edition
CO
Authors:
NN
James Trieschmann Sandra Gustavson Sandra
Gustavson, Robert Hoyt Sandra Gustavson, Robert
Hoyt, David Sommer
OI
◊ ALL CHAPTERS
SS
◊ INSTANT PDF DOWNLOAD💯💯💯
◊ ORIGINAL FROM PUBLISHER
E UR
MEDCONNOISSEUR
Email:
??
Study material
Prepared by
Medconnoisseur
©2025
, STUVIA APPROVED
SOLUTION MANUAL FOR:
RISK MANAGEMENT AND INSURANCE 12TH EDITION JAMES TRIESCHMANN SANDRA
GUSTAVSON SANDRA GUSTAVSON, ROBERT HOYT SANDRA GUSTAVSON, ROBERT HOYT,
DAVID SOMMER
CONTENTS
?M
INSTRUCTOR’S MANUAL
PART 1: RISK AND THE RISK MANAGEMENT PROCESS
Chapter 1: Introduction to Risk ................................................................................................1
ED
Chapter 2: Risk Identification and Evaluation ..........................................................................4
Chapter 3: Property and Liability Loss Exposures....................................................................8
Chapter 4: Life, Health, and Loss of Income Exposures ........................................................12
Chapter 5: Risk Management Techniques: Noninsurance Methods .......................................16
Chapter 6: Insurance as a Risk Management Technique: Principles ......................................20
CO
Chapter 7: Insurance as a Risk Management Technique: Policy Provisions ..........................25
Chapter 8: Selecting and Implementing Risk Management Techniques.................................28
PART 2: COMMERCIAL RISK MANAGEMENT APPLICATIONS:
PROPERTY-LIABILITY
NN
Chapter 9: Risk Management and Commercial Property: Part I.............................................31
Chapter 10: Risk Management and Commercial Property: Part II ...........................................34
Chapter 11: Risk Management and Commercial Liability Risk ...............................................38
Chapter 12: Workers' Compensation and Alternative Risk Financing ......................................41
OI
PART 3: PERSONAL RISK MANAGEMENT APPLICATIONS:
PROPERTY-LIABILITY
Chapter 13: Risk Management for Auto Owners: Part I...........................................................44
SS
Chapter 14: Risk Management for Auto Owners: Part II .........................................................47
Chapter 15: Risk Management for Homeowners......................................................................50
PART 4: RISK MANAGEMENT APPLICATIONS: LIFE, HEALTH,
EU
AND INCOME EXPOSURES
Chapter 16: Loss of Life ...........................................................................................................54
Chapter 17: Loss of Health .......................................................................................................59
Chapter 18: Retirement Planning and Annuities ......................................................................65
Chapter 19: Employee Benefits: Life and Health Benefits .......................................................69
R?
Chapter 20: Employee Benefits: Retirement Plans ...................................................................73
Chapter 21: Financial and Estate Planning ...............................................................................77
PART 5: THE RISK MANAGEMENT ENVIRONMENT
?
Chapter 22: Risk Management and the Insurance Industry ......................................................81
Chapter 23: Functions and Organization of Insurers ................................................................85
iv
1
, STUVIA APPROVED
Chapter 24: Government Regulation of Risk Management and Insurance .............................. 89
TEST BANK
PART 1: RISK AND THE RISK MANAGEMENT PROCESS
?M
Chapter 1: Introduction to Risk ............................................................................................. 95
Chapter 2: Risk Identification and Evaluation ..................................................................... 100
Chapter 3: Property and Liability Loss Exposures............................................................... 106
Chapter 4: Life, Health, and Loss of Income Exposures ..................................................... 114
Chapter 5: Risk Management Techniques: Noninsurance Methods .................................... 119
Chapter 6: Insurance as a Risk Management Technique: Principles ................................... 124
ED
Chapter 7: Insurance as a Risk Management Technique: Policy Provisions ....................... 130
Chapter 8: Selecting and Implementing Risk Management Techniques.............................. 135
PART 2: COMMERCIAL RISK MANAGEMENT APPLICATIONS:
PROPERTY-LIABILITY
CO
Chapter 9: Risk Management and Commercial Property: Part I.......................................... 140
Chapter 10: Risk Management and Commercial Property: Part II ........................................ 145
Chapter 11: Risk Management and Commercial Liability Risk ............................................ 150
Chapter 12: Workers' Compensation and Alternative Risk Financing ................................... 155
NN
PART 3: PERSONAL RISK MANAGEMENT APPLICATIONS:
PROPERTY-LIABILITY
Chapter 13: Risk Management for Auto Owners: Part I........................................................ 160
Chapter 14: Risk Management for Auto Owners: Part II ...................................................... 165
OI
Chapter 15: Risk Management for Homeowners................................................................... 168
PART 4: RISK MANAGEMENT APPLICATIONS: LIFE, HEALTH,
AND INCOME EXPOSURES
SS
Chapter 16: Loss of Life ........................................................................................................ 173
Chapter 17: Loss of Health .................................................................................................... 178
Chapter 18: Retirement Planning and Annuities ................................................................... 184
EU
Chapter 19: Employee Benefits: Life and Health Benefits .................................................... 190
Chapter 20: Employee Benefits: Retirement Plans ................................................................ 195
Chapter 21: Financial and Estate Planning ............................................................................ 200
PART 5: THE RISK MANAGEMENT ENVIRONMENT
R?
Chapter 22: Risk Management and the Insurance Industry ................................................... 205
Chapter 23: Functions and Organization of Insurers ............................................................. 211
Chapter 24: Government Regulation of Risk Management and Insurance ............................ 218
?
2
, STUVIA APPROVED
CHAPTER 1
Introduction to Risk
THE BURDEN OF RISK
DEFINITIONS OF RISK
?M
Pure versus Speculative Risk
Static versus Dynamic Risk
Subjective versus Objective Risk
SOURCES OF PURE RISK
Property Risks
Liability Risks
ED
Life, Health, and Loss of Income Risks
Financial Risk
MEASUREMENT OF RISK
Chance of Loss
Physical Hazard
CO
Morale Hazard
Moral Hazard
Degree of Risk
MANAGEMENT OF RISK
NN
KEY TERMS AND CONCEPTS
Chance of loss
Chief risk officer
Cost of risk
Degree of risk
OI
Dynamic risks
Enterprise risk
management
Financial risks
SS
Frequency
Hazards
Integrated risk
management
EU
Moral hazard
Morale hazard
Objective risk
Peril
Pure risk
R?
Risk
Risk management
Risk management
process
Risk manager
?
Severity
Speculative risk
Static risks
Subjective risk
3
?M
Risk Management
And Insurance 12th
ED
Edition
CO
Authors:
NN
James Trieschmann Sandra Gustavson Sandra
Gustavson, Robert Hoyt Sandra Gustavson, Robert
Hoyt, David Sommer
OI
◊ ALL CHAPTERS
SS
◊ INSTANT PDF DOWNLOAD💯💯💯
◊ ORIGINAL FROM PUBLISHER
E UR
MEDCONNOISSEUR
Email:
??
Study material
Prepared by
Medconnoisseur
©2025
, STUVIA APPROVED
SOLUTION MANUAL FOR:
RISK MANAGEMENT AND INSURANCE 12TH EDITION JAMES TRIESCHMANN SANDRA
GUSTAVSON SANDRA GUSTAVSON, ROBERT HOYT SANDRA GUSTAVSON, ROBERT HOYT,
DAVID SOMMER
CONTENTS
?M
INSTRUCTOR’S MANUAL
PART 1: RISK AND THE RISK MANAGEMENT PROCESS
Chapter 1: Introduction to Risk ................................................................................................1
ED
Chapter 2: Risk Identification and Evaluation ..........................................................................4
Chapter 3: Property and Liability Loss Exposures....................................................................8
Chapter 4: Life, Health, and Loss of Income Exposures ........................................................12
Chapter 5: Risk Management Techniques: Noninsurance Methods .......................................16
Chapter 6: Insurance as a Risk Management Technique: Principles ......................................20
CO
Chapter 7: Insurance as a Risk Management Technique: Policy Provisions ..........................25
Chapter 8: Selecting and Implementing Risk Management Techniques.................................28
PART 2: COMMERCIAL RISK MANAGEMENT APPLICATIONS:
PROPERTY-LIABILITY
NN
Chapter 9: Risk Management and Commercial Property: Part I.............................................31
Chapter 10: Risk Management and Commercial Property: Part II ...........................................34
Chapter 11: Risk Management and Commercial Liability Risk ...............................................38
Chapter 12: Workers' Compensation and Alternative Risk Financing ......................................41
OI
PART 3: PERSONAL RISK MANAGEMENT APPLICATIONS:
PROPERTY-LIABILITY
Chapter 13: Risk Management for Auto Owners: Part I...........................................................44
SS
Chapter 14: Risk Management for Auto Owners: Part II .........................................................47
Chapter 15: Risk Management for Homeowners......................................................................50
PART 4: RISK MANAGEMENT APPLICATIONS: LIFE, HEALTH,
EU
AND INCOME EXPOSURES
Chapter 16: Loss of Life ...........................................................................................................54
Chapter 17: Loss of Health .......................................................................................................59
Chapter 18: Retirement Planning and Annuities ......................................................................65
Chapter 19: Employee Benefits: Life and Health Benefits .......................................................69
R?
Chapter 20: Employee Benefits: Retirement Plans ...................................................................73
Chapter 21: Financial and Estate Planning ...............................................................................77
PART 5: THE RISK MANAGEMENT ENVIRONMENT
?
Chapter 22: Risk Management and the Insurance Industry ......................................................81
Chapter 23: Functions and Organization of Insurers ................................................................85
iv
1
, STUVIA APPROVED
Chapter 24: Government Regulation of Risk Management and Insurance .............................. 89
TEST BANK
PART 1: RISK AND THE RISK MANAGEMENT PROCESS
?M
Chapter 1: Introduction to Risk ............................................................................................. 95
Chapter 2: Risk Identification and Evaluation ..................................................................... 100
Chapter 3: Property and Liability Loss Exposures............................................................... 106
Chapter 4: Life, Health, and Loss of Income Exposures ..................................................... 114
Chapter 5: Risk Management Techniques: Noninsurance Methods .................................... 119
Chapter 6: Insurance as a Risk Management Technique: Principles ................................... 124
ED
Chapter 7: Insurance as a Risk Management Technique: Policy Provisions ....................... 130
Chapter 8: Selecting and Implementing Risk Management Techniques.............................. 135
PART 2: COMMERCIAL RISK MANAGEMENT APPLICATIONS:
PROPERTY-LIABILITY
CO
Chapter 9: Risk Management and Commercial Property: Part I.......................................... 140
Chapter 10: Risk Management and Commercial Property: Part II ........................................ 145
Chapter 11: Risk Management and Commercial Liability Risk ............................................ 150
Chapter 12: Workers' Compensation and Alternative Risk Financing ................................... 155
NN
PART 3: PERSONAL RISK MANAGEMENT APPLICATIONS:
PROPERTY-LIABILITY
Chapter 13: Risk Management for Auto Owners: Part I........................................................ 160
Chapter 14: Risk Management for Auto Owners: Part II ...................................................... 165
OI
Chapter 15: Risk Management for Homeowners................................................................... 168
PART 4: RISK MANAGEMENT APPLICATIONS: LIFE, HEALTH,
AND INCOME EXPOSURES
SS
Chapter 16: Loss of Life ........................................................................................................ 173
Chapter 17: Loss of Health .................................................................................................... 178
Chapter 18: Retirement Planning and Annuities ................................................................... 184
EU
Chapter 19: Employee Benefits: Life and Health Benefits .................................................... 190
Chapter 20: Employee Benefits: Retirement Plans ................................................................ 195
Chapter 21: Financial and Estate Planning ............................................................................ 200
PART 5: THE RISK MANAGEMENT ENVIRONMENT
R?
Chapter 22: Risk Management and the Insurance Industry ................................................... 205
Chapter 23: Functions and Organization of Insurers ............................................................. 211
Chapter 24: Government Regulation of Risk Management and Insurance ............................ 218
?
2
, STUVIA APPROVED
CHAPTER 1
Introduction to Risk
THE BURDEN OF RISK
DEFINITIONS OF RISK
?M
Pure versus Speculative Risk
Static versus Dynamic Risk
Subjective versus Objective Risk
SOURCES OF PURE RISK
Property Risks
Liability Risks
ED
Life, Health, and Loss of Income Risks
Financial Risk
MEASUREMENT OF RISK
Chance of Loss
Physical Hazard
CO
Morale Hazard
Moral Hazard
Degree of Risk
MANAGEMENT OF RISK
NN
KEY TERMS AND CONCEPTS
Chance of loss
Chief risk officer
Cost of risk
Degree of risk
OI
Dynamic risks
Enterprise risk
management
Financial risks
SS
Frequency
Hazards
Integrated risk
management
EU
Moral hazard
Morale hazard
Objective risk
Peril
Pure risk
R?
Risk
Risk management
Risk management
process
Risk manager
?
Severity
Speculative risk
Static risks
Subjective risk
3
