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