Essay on General Insurance

Submitted By felicityff
Words: 854
Pages: 4

Table of Contents * -------------------------------------------------

* ------------------------------------------------- Section 1 - Greentyre Recycler * ------------------------------------------------- 1.1 Executive Summary * ------------------------------------------------- 1.2 Identification of Loss Exposures * ------------------------------------------------- 1.3 Analysis of Loss Exposures * ------------------------------------------------- 1.4 Examples * ------------------------------------------------- 1.5 Explanation of techniques * ------------------------------------------------- 1.6 Conclusion * ------------------------------------------------- Section 2 - Insurance Dispute Case * ------------------------------------------------- 2.1 Executive Summary * ------------------------------------------------- 2.2 Summary of facts * ------------------------------------------------- 2.3 Reason for the decision * ------------------------------------------------- 2.4 Conclusion * -------------------------------------------------

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1. ------------------------------------------------- Greentyre Recycler * -------------------------------------------------

1. ------------------------------------------------- Executive Summary * -------------------------------------------------
The purpose of this report provides details on the loss exposures that Greentyre Recyclers Pty Ltd are currently exposed to, the company recycles waste tyres and produces crumb rubber for the international and domestic market. Greentyre Recyclers Pty Ltd was visited to assess exposures to all areas of risk that could be treated from avoidance, loss prevention, loss reduction, retention, noninsurance transfer, and insurance. * ------------------------------------------------- * -------------------------------------------------
The site is 10,000 square metres and located in Brisbane South in an industrial area. * -------------------------------------------------
The plant produces and warehouses re-bonded and recycled crumb rubber for the domestic and international markets. * -------------------------------------------------
This poses an increase number of accidents recently, which has lead to a decline in company profits. These losses have arisen from various areas such as personal, property and liability. I have been appointed as assistant to the Company Secretary to report on these exposures / losses and develop a risk management plan which outlines my recommendations on how to best mitigate these pure risks through the application of Risk Transfer (purchase of insurance) and Capital Expenditure. * -------------------------------------------------

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This report will firstly identify the loss exposures Greentyre Recycles is exposed to, followed by an analysis of how these risks have affected the company and finally recommendations on how to best mitigate any future losses. A budget of $700,000 has been provided to implement a risk management program. Where the risk control measurers involve capital expenditure, approval of the Finance Committee is needed. * -------------------------------------------------

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2. ------------------------------------------------- Identification of Loss Exposures * -------------------------------------------------
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Identification of Loss exposures * -------------------------------------------------

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USE PB ASSIGNMENT – diagram and then * -------------------------------------------------…