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Risk Management, Insurance, And Crime Prevention

16. Chapter. Risk Management, Insurance, And Crime Prevention. Defining & Coping With Risk Insurance & Risk Choosing An Insurer Reducing Risk Safeguarding Against Theft Protecting Employees. Types Of Risk. Pure- Unpredictable Speculative- Voluntary. McGraw-Hill/Irwin.

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Risk Management, Insurance, And Crime Prevention

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  1. 16 Chapter Risk Management, Insurance, And Crime Prevention Defining & Coping With Risk Insurance & Risk Choosing An Insurer Reducing Risk Safeguarding Against Theft Protecting Employees

  2. Types Of Risk • Pure- Unpredictable • Speculative- Voluntary McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.

  3. Lawrence Lawry/Getty Images Coping With Risk • Avoidance • Prevention/Control • Transfer • Assumption- Self-Insurance

  4. Steve Cole/Getty Images Determine Insurance Need What Will Happen If: • I Die • Fire • Theft/Embezzlement • Robbery • Settlement • Unauthorized Information

  5. Coinsurance “…having the business buy insurance equal to a specific percentage of property value.”

  6. PhotoDisc/Getty Images Types Of Insurance • Fire • Business Interruption • Casualty • Product/Service Liability • Workers’ Compensation • Group Health/Life • Business Owner • Fidelity/Surety Bonds

  7. Small Business Health Care(Employee Contribution With)

  8. Actions ToReduce Premiums • Involve Employees • Establish Communications • Companywide Participation • Safety Awards • Exciting Program • Be Watchful

  9. Delayed Responses Routine Answers Delayed Refunds Hand-Delivered Policy Claim More Expensive Than Deductible Delay Tactics Attempts To Minimize Damage Secret Claim Or Settlement Replace Old Flawed Policy Red Flags OnAgent Selection

  10. PhotoLink/Getty Images Criteria ForInsurer Comparison • Financial Stability/Safety • Specialization • Tailor Policy • Cost Of Protection

  11. PhotoLink/Getty Images Insurance Renewal • Agent = Minimize Premium • Boost Deductible • Shop Several Agents • Professional Organization • Special-Risk Pools • Self-Insurance/Coinsurance

  12. Agent’s Services • Devote Time To Your Problems • Exposure To Loss • Recommend Insurance & Loss Prevention • Offer Alternatives

  13. Crime PreventionFor Protection • Zero-Tolerance Policy • Screen • Train • Defuse Disputes • Check Security • Terminate With Care

  14. Royalty-Free/CORBIS OSHA GuidelinesTo Prevent Robbery • Adequate Lighting • Video Cameras • Increase Night Staff • Alarms • Bulletproof Glass

  15. Don Farrall/Getty Images Reducing ChancesOf Robbery • Modify Store Layout • Secure Entrances • Use Dogs • Control Cash • Redesign Surroundings

  16. Sources OfInventory Theft

  17. Amount Of Theft- 2002 In $ Billon

  18. Ryan McVay/Getty Images Preventing Theft • Mirrors • Cameras/Monitors • Noise Activators • Employee Honesty Tests • Security Guards • Security Audits • Spot Checks • Visible Surveillance • Physical Inventory Checks

  19. White Collar Crime “…committed by managerial, professional, and technical employees.”

  20. Types Of White Collar Crime • Falsification Of Accounts • Fraudulent Computer Use • Bribing Officials • Collusion • Sale Of Proprietary Information • Sabotage

  21. Getty Images Computer Crimes • Intentional Destruction Of Data • Fraudulent Use

  22. Non-BusinessComputer Use

  23. Track Cost Increase Budget Ban Criminals Crack Down On Tax Avoidance Restore Rights Democratize Rein In Pay Regulate Trading Expand Disclosure End Conflicts Of Interest Fix Pensions Foster Discussion Minimize White Collar Crime

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