Rmin 5100s - Study guides, Class notes & Summaries

Abandonment - - Insurance company may choose to take damaged property and pay insured the value - Insured CANNOT surrender damaged property to insurance company Active Retention - Identify the loss/risk exposure and really consider the risk itself and all the measures around it. (ex. Should we transfer it, retain it etc.) Admitted (standard or retail) Insurance companies - Regulated by the state, They often must subscribe to rating and form regulations of that state. Agent or Broker - "In...

categories of commercial loss exposures (4) - 1. property 2. personnel 3. liability 4. net income commercial property loss exposures - type of property causes of loss to property financial consequences of property losses commercial property coverage part types of property - real and personal real property - land & buildings, all property permanently attached to buildings, driveways, sidewalks, underground piping, etc, plumbing, wiring, HVAC personal property - all property that is not...

RMIN 5100S Test 2 Brown QUESTIONS AND VERIFIED CORRECT ANSWERS 1. categories of commercial loss exposures (4)√√correct answer√√ 1. property 2. personnel 3. liability 4. net income 2. commercial property loss exposures√√correct answer√√ type of property causes of loss to property financial consequences of property losses commercial property coverage part 3. types of property√√correct answer√√ real and personal 4. real property√√correct answer√√ l...

RMIN 5100s EXAM 3 BROWN ALREADY PASSED!!

RMIN 5100S Test 1 Atkinson Questions and Answers 100% Pass Risk Manager - "insured" buyer of insurance - Larger companies will have one personal one - Small to mid-sized companies will have someone else who serves this role - Must evaluate risks and determine the best approach to manage risks -- including Loss Control, Retention and transfer techniques Agent or Broker "Intermediary" Facilitates the purchase of insurance. Advises insured. Negotiates with the insurer. Independ...

RMIN 5100S Exam 2 Questions and Answers 100% Solved 1. Types of property 2. Causes of loss to property 3. Financial consequences of property losses 3 considerations for commercial property loss exposures. 1. Real Property 2. Personal Property 2 types of property. Real Property Land & buildings, all property permanently attached to buildings, driveways, sidewalks, underground piping, etc, and plumbing, wiring, and HVAC. Personal Property All property that is not real property. 1. ...

RMIN 5100S- Test 2 Questions With Complete Solutions.

RMIN 5100S - Test 3 (Atkinson) Questions and Answers | Latest Update | 2024/2025 | 100% Verified What is the purpose of a risk avoidance strategy? Risk avoidance eliminates the chance of loss by avoiding activities or situations that pose a risk. What is the concept of risk tolerance? Risk tolerance refers to the level of risk an organization or individual is willing to accept while pursuing objectives. Why is it essential to document risk management processes? Documenting...

RMIN 5100S Exam 2 Study Guide 2024 With Complete Solution categories of commercial loss exposures -️️ property, personnel, liability, net income loss property loss -️️ - tangible: personal property, real estate -intangible: patent, copyright personnel loss -️️ death, disability, injury, retirement liability loss -️️ your responsibility to someone else for property damage, bodily injury, or net income loss net income loss -️️ reduction in income due to a direct loss comm...

RMIN 5100S- Test 2 Questions With Complete Solutions.