Risk Management and Insurance RISK AND ITS MANAGEMENT参考.pptVIP

RISK AND ITS MANAGEMENT (TOPIC 02) Main ReferenceHarrington, S.E., Niehaus, G.R. (1999). Risk Management and Insurance. USA: Irwin/McGraw-Hill SYNOPSIS Direct versus Indirect Expected Losses Comparison of Pure Risk and Its Management with other types of Risk The risk Management Process Risk management Methods Business Risk Management Organization DIRECT VERSUS INDIRECT EXPECTED LOSSES Types of Indirect Losses Loss of normal profit Extra operating expenses Higher cost of funds and foregone investment Bankruptcy costs COMPARISON OF PURE RISK AND ITS MANAGEMENT WITH OTHER TYPES OF RISK