Relier Pairs Risk management matrixVersion en ligne Risk management matrix par Ryan Brown 1 5th part of Parts of an Insurance Contract 2 4th step in The Risk Management Process 3 1st step in The claims process 4 Low High 5 2nd step in The Risk Management Process 6 High High 7 2nd step in The claims process 8 High Low 9 3rd step in The claims process 10 Low Low 11 3rd part of Parts of an Insurance Contract 12 3rd step in The Risk Management Process 13 1st Parts of an Insurance Contract 14 2nd part of Parts of an Insurance Contract 15 1 step in The Risk Management Process 16 4th part of Parts of an Insurance Contract 17 6th part of Parts of an Insurance Contract 18 4th step in The claims process pay the claim (if covered) and assist the insured Retention Implement, monitor, and adjust the risk treatment plan as necessary Measure and analyze the loss exposures verify that a loss occurred Select the appropriate risk treatment method(s) Insuring Agreement: summary of the major promises of the insurer. It can be “all-risks” (aka “open perils”) or “named-perils” Transfer Conditions: provisions that limit or qualify the insurer’s promise to perform. (e.g. “we will not be liable if…” or “coverage is suspended if…”) Miscellaneous Provisions: catch-all category … how subrogation is handled, termination rights, how valuation disputes are resolved, etc. Definitions: a glossary of key terms and how the terms are defined. Why is this section needed? Exclusions: list of property, losses, and/or perils not covered by the policy. determine the value of the loss Identify the loss exposures Declarations: statements about the life, activity, or property that is insured. Usually the first page of the contract (the “dec page”). Avoidance determine if the loss is covered Risk Control
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