Reference no: EM131223827
Assignment
Carefully follow the Instructions - Homework Guidelines and Submitting Homework to SafeAssignlocated in the Homework Section of BlackBoard. Hint: Read the questions carefully and be sure that you answerthe questions asked. Many times students give correct information in an answer but that information is not the answer to the question.
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1. Refer to the bulk pack article in Topic 3: "Risks Under the Big Top". (Hint - review Chapter 2 &3 of the text and the lecture notes regarding the Types of Loss Exposures and Elements of Loss Exposure, i. Asset Exposed to Loss, ii. Cause of Loss, iii. Financial Consequences of Loss)
a. Consider the first step in the Risk Management Process. Identify and briefly explain two examples of methods that could be used by the Risk Manager of Ringling Bros. and Barnum & Bailey Circus to identify loss exposures.
b. Identify and explain a Property Loss Exposure faced by the circus.
c. Identify and explain a Liability Loss Exposure faced by the circus.
d. Identify and explain a PersonnelLoss Exposure faced by the circus.
e. Identify and explain a Net IncomeLoss Exposure faced by the circus.
2. Refer to the bulk pack article in Topic 3: "GM: Ignorance Left "switch from hell" Unfixed"
a.) What very specific type of liability is this "switch from hell"? Be specific and explain.
Attachment:- Readings.rar
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