Classification of Risk

Financial and non-financial risk

Static and dynamic risk
Fundamental and Particulars risk
Pure and speculative risk
Personal risk
Property risk
Liability risk
Risk arising out of failure
Sources of Risk
Physical environment
Technological environment
Social environment
Political environment
Economic environment
Legal environment
Operational environment

Sources of risk information
Proposal form
Agents report
Medical examiners report
Inspection report
Medical information bureau
Family Physicians
Methods of handling risk
Prevention or Avoiding of risks
Reduction of risks
Shifting transferring of risks
Acceptance of risks
Spreading of risks

Insurance Policy as a financial
product
The Heading
The Preamble, Proposal and Declarations
Proposal Form
The insuring clause
Comm0n policy condition
Endorsements
Signature Clause
Definition
Types of Reinsurance
Facultative
Quota share treaty
Surplus treaty
Excess of loss treaty