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Bryant University

Bryant University is a private four-year university located in Smithfield, Rhode Island, USA. Until August 2004, it was known as Bryant College. Bryant comprises the College of Arts and Sciences and the College of Business, and is accredited by the New England Association of Schools and Colleges and the AACSB International.

Library Resources for MKT 368 International Marketing MKT 201G Global Dimensions of Marketing by Colleen Anderson, Business & Economics Librarian Douglas & Judith Krupp Library canderso@bryant.edu Fall 2009 Colleen D. Anderson canderso@bryant.edu
Information Systems in Organizations

Information Systems in Organizations

CHAPTER 12 Page 534 Organizational Structure Section A
Criminal and Tortious Behavior

Criminal and Tortious Behavior

1. Two classes of wrong: public and private (crimes and torts). 2. Crimes are punishable by fine, imprisonment or execution. 3. Tortfeasors may be liable in civil actions. 4. Torts may be intentional or unintentional. 5. Liability insurance is concerned primarily with unintentional torts.
Annuities

Annuities

1. Reverse application of the law of large numbers as it is used in life insurance. 2. Law of averages permits a lifetime guaranteed income to each annuitant. 3. Persons who live longer than average offset those who live a shorter-than-average period. 4. Every payment to annuitant is part interest, part principal, and part survivorship benefit.
Unique Characteristics of Life Insurance

Unique Characteristics of Life Insurance

1. The event insured is an eventual certainty and the probability of loss increases from year to year. 2. Life insurance does not violate requisites of an insurable risk; it is not the possibility of death that is insured, but of untimely death. 3. There is no possibility of partial loss. Therefore all policies are cash payment policies.
Perils Threatening Income-Earning Ability

Perils Threatening Income-Earning Ability

Death Disability Superannuation Unemployment
The Fields of Insurance

The Fields of Insurance

1. Private insurance voluntary programs designed to protect individual against financial loss 2. Social Insurance compulsory insurance programs generally operated by government 3. Public Benefit Guarantee Programs quasi-social coverages usually associated with regulation
Functions of Insurers

Functions of Insurers

1. Ratemaking 2. Production 3. Underwriting 4. Loss Settlement 5. Investment
Nature & Functions of Insurance

Nature & Functions of Insurance

In its simplest aspect, insurance has two fundamental characteristics: 1. Transfer of risk from the individual to the group. 2. Sharing of losses on some equitable basis.
Functions of Insurers

Functions of Insurers

1. Ratemaking 2. Production 3. Underwriting 4. Loss Settlement 5. Investment
The Nature of Risk Management

The Nature of Risk Management

1. Scientific approach to dealing with pure risks 2. Broader than insurance management 3. Differs from insurance management in philosophy
Reasons for the Retirement Risk

Reasons for the Retirement Risk

1. Retirement risk arises from uncertainty concerning the time of death 2. It is influenced by physiological and cultural hazards people tend to live longer today people are retiring earlier
The Private Insurance Industry

The Private Insurance Industry

Measured by any one of a number of standards, the insurance industry in the U.S. is significant. 1. 7,900 insurance companies (insurers) 2. 2.1 million persons employed 3. $3.1 trillion in assets 4. 13.6% of Gross National Product
General Nature of Homeowners Program

General Nature of Homeowners Program

Section I: Property (this chapter) Liability (covered earlier)
The “Why” of Government Regulation

The “Why” of Government Regulation

1. Some economists believe in an efficient market and would like the role of government to be making sure that competition can exist. 2. Other economists have less confidence in the market, and believe that direct intervention (i.e., regulation) is needed to correct market failures.
General Nature of Personal Auto Policy

General Nature of Personal Auto Policy

1. Designed to cover three types of loss: legal liability injury to insured or family members damage to the auto itself 2. Subject to limitations, the policy covers: others while driving the insured auto the named insured and family while driving other autos
Central Banking

Central Banking

Fixed Income Markets

Fixed Income Markets

Pension Funds

Pension Funds

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