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Risk Management: Insuring Against Risk - Revised

How do you decide which type of insurance is most suited to your current risk management needs for your business?

Publisher: Saylor Academy
This free risk management course will teach you about the importance of insuring against risk and explore the most prevalent types of insurance policies and insurers. We live in a world of uncertainty and there are countless facets of life that are beyond our control. The world of business is no exception, with financial stability often being often challenged by legal liabilities, strategic management errors, accidents and natural disasters.
Risk Management: Insuring Against Risk - Revised
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Insurance companies abound these days and it is often hard to choose which of them is worth your hard-earned money. This course kicks off by giving you an in-depth understanding of the nature of insurance, the types of insurance and how they differ from each other. You will look into the common phrases and terms used in the insurance industry and learn about the processes insurers go through when deciding whether or not to cover an exposure.

You will then study the internal operations of insurance companies as they accept the risks faced by their clients. By reviewing how both sides of an insurance business operate, you will further understand how they invest premiums from their clients in order to offer them coverage if ever they need it. This course also discusses a variety of case studies based on real-life events that will help you understand the application of risk management theory. It also tackles the basic requirements and characteristics of insurance contracts.

There are several types of risks in business, including competition, economic factors and market volatility. This means that businesses everywhere need professionals who can assess the risk in their day-to-day operations, and consequently decide what type of insurance they need to purchase. By the end of this course, you will have a much stronger understanding of how to insure against risk and how insurance premiums are calculated. This is useful knowledge, so check out the course today and start learning something really practical.

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