Rmin 5100s a grade exam - Study guides, Class notes & Summaries

1. categories of commercial loss exposures: property, personnel, liability, netincome loss 2. property loss: - tangible: personal property, real estate -intangible: patent, copyright 3. personnel loss: death, disability, injury, retirement 4. liability loss: your responsibility to someone else for property damage, bodilyinjury, or net income loss

Liability is the same as... - Casualty Risk Manager - Insured- the buyer of insurance; must evaluate risks and determine best approach to manage risks Agent or Broker - Intermediary- facilitates the purchase of insurance. Advance Insured. Negotiates with insurer Underwriter - Insurer- provides insurance coverage aka the insurance company