Day: October 16, 2020

Introduction Risk management process refers to a series of steps that must be accomplished in managing risks. They includes; Determination of objectives, Identification of risks, Evaluation of risks, considering alternatives and selecting the risk treatment device, implementing decisions, evaluation and Read More …

4.0 Introduction Risk, at the general level, involves two major elements: the occurrence probability of an adverse event and the consequences of the event. Risk estimation, consequently, is an estimation process, starting from the occurrence probability and ending at the Read More …

Risk Management   Introduction We have throughout portrayed risk as having a negative effect e.g. great steps in medical fields have been achieved at the personal risk of those researchers prepared to test drugs and treatment; risk is also at Read More …

Introduction Welcome to the second lecture on the response to risk. We shall begin the lecture by highlighting the various sectorial responses to risks, the risk schooling and the cost and burden of risk to a society. 2.3 Lecture Outline Read More …

The concept of Risk Introduction  Welcome to the first lecture on the definition of risk and related terms. We shall begin the lecture by highlighting meaning of risk. We will further explain the other related terms; perils and hazard, and Read More …

INTERNATIONAL RISK This involves the foreign exchange risk which is the uncertainty of the outcome that arises because of unpredictability of the exchange rate movement.  There are normally three types of foreign exchange risks: Transaction exposure risk Translation exposure risk Read More …

Pre-independence legislation Modern insurance came with colonial administration; the legislation was racist as it demonstrated a deliberate move by the colonial government to keep Africans out of the monetary economy.  The first legislation instrument governing insurance was enacted in 1945 Read More …

Like any other market, the insurance market comprises of sellers, buyers and middlemen.   The Buyers of Insurance Most people tend to think of insurance in terms of personal insurances e.g. private car insurance, household insurance, life assurance etc. However, Read More …

Proposal Forms A proposal form is the mechanism by which the insurer receives information about risks to be insured. It is completed by the proposer and submitted to the insurer for most classes of insurance. However, there are classes of Read More …

Insurance Contract Insurance law is mainly derived from the general law of contract. Therefore the insurance contract will have certain elements that are legally binding. These include: Legal form Offer and acceptance Consideration Legal objects Competent parties   Legal Form: Read More …