保险学Trisch12eCh03.ppt

Property and Liabilities Loss Exposures Chapter 3 Chapter Objectives Identify the kinds of property subject to loss and the types of losses that may occur Define the basic payments made under liability insurance contracts Distinguish between criminal law and civil law Understand what a tort is Describe negligence and the characteristics of a negligent act Explain some of the defenses against a claim of negligence Discuss factors that are causing individuals and businesses to maintain higher standards of care Identify the basic types of liability exposure and give an explanation of each Property Loss Exposures Real property Land, all structures permanently attached to the land, and whatever is growing on the land Examples include buildings, attachments to buildings, crops Personal property All property other than real property Examples include cars, money, clothes, furniture, textbooks, airplanes, animals Property Loss Exposures Direct loss Occurs when there is damage to property Indirect loss Occurs when a direct loss causes expenses to increase or revenues to decline Many insurance contracts insure both direct and indirect losses in the same contract When dealing with property insurance, there are usually only two parties to the contract The insured and the insurer Property Loss Exposures Not all types of property are insurable Coverage cannot be purchased for loss of goodwill or loss of a copyright Raw land is difficult to insure Sex and property loss exposures For insurance purposes, animals are considered property Firms must be able to manage loss to or from the animals and learn to manage the animals during the mating season Liability Exposures One of the most serious financial risks that risk managers must deal with Loss through legal liability for harm caused to others Insurance for liability losses is more complex than property insurance Because people other than the insured and the insurer are involved Liability is usually det