Risk management Case Study Example | Topics and Well Written Essays - 750 words - 1

Risk management - Case Study Example The second part involves the liability insurance on liability related risks. It must be noted that liability insurance is meant to offer protection to a third party should there be any claim. The family can insure their dogs. That can certainly be under pet insurance from Progressive Insurance. That is because one of their dogs has been reported to be engaged in biting people. That can lead to a huge loss if the family is not careful. For that reason, taking an insurance cover for the two dogs is important in case of any accidents especially because they have allowed students of Perdue school to be passing by their fence. That even makes it more dangerous. On the other hand, the family may decide to enclose their yard and garden by fencing and prohibiting students from passing over the yard. That also possesses the family in danger of theft related cases. Jane is also working in a manufacturing plant and therefore needs to be covered under the company’s public liability insura nce due to accidents, injuries, death at work and many others. Jane may also insure her businesses against losses especially because the business is seasonal and sometimes funds are not available. Home related risk in the third part involves insuring the house. Homes are insured under the home insurance. The house though very old can still be insured. Progressive Insurance company offers certain categories depending on the perils. Jane can contribute an average annual insurance at $1,163 and monthly contributions at $96.92. That will be cheap while considering that her business is cyclic. Jane will be required to pay a $5000 deductible monthly insurance against flood. The maximum amount payable is $250,000 for house allowance. In future Jane would wish to move out of the old house since it has high risks rates that lead to high deductible amount. Jane would also be needed to insure his