Posted: Saturday, October 12, 2013 12:30 PM
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occasional computerized accounting, computerized claims processing, claims reserves analysis, loss forecasting, associations, specialized accounting services, and onshore services for associations. The other approach to risk management is to transfer the risk. Three kinds of situations make the use of loss transfer appropriate; (1) The loss can be too large for the organization to retain and be able to achieve its objectives; (2) the organization has a legal obligation to transfer the loss; and (3) loss transfer is the most efficient management device for the exposure.Non- insurance arrangements and formalized insurance are the principal methods of risk transfer. Noninsurance Transfers In addition to insurance, other methods for transferring the financial effects of a loss can be arranged. Examples include the underwriting arrangements with investment bankers for the floatation of securities; transfers of responsibility for damage to rented premises from the landlord to the tenant under a lease; the use of stock options; the use of a futures contract to hedge against changes in commodity prices; transfer of liability for defective products from a retailer to a manufacturer under a purchase agreement.
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• Location: Modesto, Modesto CA
• Post ID: 5581976 modesto