Identify and explain a Property Loss Exposure faced by the circus.

RMI 2101

Fall 2016

Homework Assignment 2

24 points

 

Carefully follow the Instructions – Homework Guidelines and Submitting Homework to SafeAssign located in the Homework Section of BlackBoardHint: Read the questions carefully and be sure that you answer the questions asked.  Many times students give correct information in an answer but that information is not the answer to the question.

Also, utilize proper business writing techniques in your answers, i.e. be complete but concise, use proper grammar, sentence structure, spelling and punctuation.  Double spaced please.

 

  1. Refer to the bulk pack article in Topic 3: “Risks Under the Big Top”.  (Hint – review  Chapter 2 & 3 of the text and the lecture notes regarding the Types of Loss Exposures and Elements of Loss Exposure, i. Asset Exposed to Loss, ii. Cause of Loss, iii. Financial Consequences of Loss)
  2. Consider the first step in the Risk Management Process.  Identify and briefly
    explain two examples of methods that could be used by the Risk Manager of
    Ringling Bros. and Barnum & Bailey Circus to identify loss exposures.  (4 points)
  3. Identify and explain a Property Loss Exposure faced by the circus.  (4 points)
  4. Identify and explain a Liability Loss Exposure faced by the circus.  (4 points)

 

  1. Identify and explain a Personnel Loss Exposure faced by the circus.  (4 points)

 

  1. Identify and explain a Net Income Loss Exposure faced by the circus.  (4 points)

 

 

 

  1. Refer to the bulk pack article in Topic 3:  “GM: Ignorance Left “switch from hell”
    Unfixed”

a.)        What very specific type of liability is this “switch from hell”?  Be specific and
explain.  (4 points)

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