Insurance Journal's Academy of Insurance
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Is your client a risk taker? How do you know? Many different risk financing options are available to your insureds traditional, "first dollar" insurance up to full intentional self-insurance. But which option is the best? There is no one correct answer, the answer depends on the insured.
This e-book provides a "test" of the insured's own opinion regarding the various risk financing options; however, it doesn't present the questions in insurance or risk financing terms. Questions, which are really statements of belief, focus on the insured's attitudes regarding risk and their ability to manage the costs (real and opportunity) surrounding risks.
In addition, this book provides a chart that details each risk financing option highlighting and comparing the relative risk of each option, the primary and secondary costs associated with each risk financing option, the potential upside, tax considerations, regulations relevant to each financing option, and many other issues. This chart is an easy reference for anyone comparing the various risk financing option and is worth the investment by itself.