Reference no: EM132279111

Collect necessary information on any firm/organization (e.g. Uber, Apple, Target, Bestbuy, Starbuck, Conway Regional Hospital, other Conway local companies) of interest to you. Apply the knowledge of Chapter 1-3 from this course to discuss how it might use the four primary risk management techniques that have been discussed in class. You are asked to write a report, which must include the following requirements.

Briefly describe the steps in the risk management process that should be followed by the risk manager of the firm/organization.

Identify four specific risk exposures with each exposure having one of the four following frequency-severity characteristics: low frequency-low severity; high-frequency-low severity; low frequency-high severity; and high frequency-high severity. Be specific in the risks you choose and explain the nature of each risk and why it has the frequency-severity characteristics that you say it has.

For each risk exposure in (b), discuss which risk management method (technique) would be most appropriate for that exposure and why.

You can choose one of the two options from the following:

Describe several sources of funds for paying losses if retention is used in your risk management techniques

Identify other departments in the firm that would also be involved in the risk management program.

The more specific and detailed your answers are for requirements b, c, d, the more points you will be awarded on this assignment, all other things equal. Please clearly state your analysis in your report and limit your report in four pages (12 size font).