This proven, market-leading book provides a thorough, current introduction to risk management and insurance. It assists the reader in identifying, analyzing, and managing risk through insurance and alternative tools/techniques such as loss control, risk retention, and risk transfer. This edition presents an even stronger focus on managing risk and covers insurance within this context. Concepts of risk management are presented as they apply to business and personal situations as well as international situations.
New Features- Updated Coverage: The text has been updated to include recent developments in regulations and taxes and a greater emphasis on speculative risk management topics.
- NEW! Enterprise Risk Management Coverage: The 11th edition blends this concept into several different chapters while still maintaining the features of the book that are important for introductory classes in both insurance and risk management.
- NEW! Risk Management Icons: These icons demonstrate the text's risk management orientation by highlighting relevant discussions.
- Expanded International Issues: In addition to the "International Perspectives" that are provided in various locations throughout the book, Chapter 22 contains discussion of the effects of globalization on risk management and on the insurance business.
- Increased Internet Emphasis: Internet based questions and "Netlink" features in each chapter guide students to Web sites where they can perform an activity and apply them to chapter content.
- Enriched Perspective Sections: Perspective features contain material from current literature which further illustrate and reinforce concepts discussed in each chapter.
- International Perspectives illustrate the global application of risk management considerations.
- Ethical Perspectives present ethical dilemmas common in the field of risk management.
- Professional Perspectives are based on recent interviews with practicing risk management professionals.
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