About This Chapter
How it works:
- Identify which concepts are covered on your risk management homework.
- Find videos on those topics within this chapter.
- Watch fun videos, pausing and reviewing as needed.
- Complete sample problems and get instant feedback.
- Finish your risk management homework with ease!
Topics from your homework you'll be able to complete:
- External environmental changes
- Insurable risk
- Uninsurable risk
- Insurance coverage
- Insurance policies
- Law of large numbers
- Rule of indemnity
- Types of risk
1. External Environmental Changes Drive the Need for Risk Management
Businesses operate in a dynamic world where the only thing for certain is that things will change. Change can bring both risk and reward. In this lesson, you'll learn how change in the business environment drives the need for risk management.
2. Ways to Manage Risk: Insurable and Uninsurable Risk
Risks abound in life and in business. However, most risks can be managed. In this lesson, you'll learn about ways to manage risks. You'll also learn the difference between insurable and uninsurable risks. A short quiz follows.
3. Understanding Insurance Policies and Risk Management
Obtaining insurance is one of the most common methods of risk management. In this lesson, you'll learn about insurance policies and some key concepts related to insurance. You'll also have a chance to take a short quiz.
4. Insurance Coverage for Various Types of Risk
Businesses operate in a world of risk. One of the best ways to manage risk is through insurance. In this lesson, you'll learn about the types of insurance coverage available to businesses to help them manage their risks.
5. Risk Aversion: Definition, Principle & Example
In this lesson, we will look at the term risk aversion. We will look at what it means to be a risk averse person and examine an example. The lesson will then be wrapped up with a summary and a quiz.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Introduction to Business: Homework Help Resource course
- The Dynamic Business Environment: Homework Help
- Homework Help for Social Responsibility and Ethical Behavior in Business
- Economics and Business: Homework Help
- Business in Global Markets: Homework Help
- Forms of Business Ownership: Homework Help
- Entrepreneurship and Small Business: Homework Help
- Managing and Leading in Business: Homework Help
- Leadership Styles in Business: Homework Help
- Organizational Management: Homework Help
- Business Production and Operations: Homework Help
- Workplace Productivity & Motivation: Homework Help
- Basics of Human Resources: Homework Help
- Managing the Employer-Worker Relationship: Homework Help
- Business Marketing Basics: Homework Help
- Product Development and Retailing: Homework Help
- Product Distribution & Supply Chain Management: Homework Help
- Pricing Strategy in Marketing: Homework Help
- Product Promotion: Homework Help
- MIS Basics: Homework Help
- Implications of Information Technology: Homework Help
- Accounting Basics: Homework Help
- Financial Management: Homework Help
- Securities Markets: Homework Help
- Money and Financial Institutions: Homework Help