Explain the concept of self-insurance. Why is all self-insurance assumption, but not all assumption self-insurance?
What will be an ideal response?
Self-insurance is where an organization meets all of the requirements of insurance, but retains the loss itself. This means that there is a conscious effort to pool and predict losses where funds exist in advance of the loss event. All self-insurance is retention because the entity retains the risk. However, not all retention is self-insurance because the arrangement may not meet the overall requirements of pooling, predictability, and funding.
You might also like to view...
Given the current criticisms against detailed, legalistic employment contracts between union members and their employers, how did these contracts develop and why have they persisted for so many years? Begin your response by describing the features of a typical union contract.
What will be an ideal response?
Jade puts up a collection of sports memorabilia for bids on BuyBay, an Internet auction site. Khalil makes the highest bid and sends the payment, which Jade receives, but she does not send the collection. This is online A) hacking
B) identity theft. C) phishing. D) cyber fraud.
What is the name of the treaty that allows American patents to be recognized and enforced in member countries?
A)The Paris Convention for the Protection of Industrial Property B)The International Treaty of Trademarks and Patents C)The World Agreement of London D)The Berne Convention
Mens rea is:
a. criminal reason b. criminal guilt c. final judgment d. thoughtful crime e. none of the other choices are correct