Risk Management 5

Part 1Written Responses:Unless otherwise indicated, there is a 250 word minimumresponse required.Credible reference materials, including your course textbook(s), may be used to complete the assessment.If you have questions regarding the credibility of your reference, please contact your professor.APA InformationIn-text and reference citations are required for allwritten responses.REQUIRED FOR UPLOADED ASSIGNMENTS ONLY:title page, margins, header, double spacing, and hanging indentationFor questions concerning APA formatting, please refer to the APA Guidelines found at the Student Resources link on your Course Menu.please do not copy and paste from the internet, and list the question and answer together1. Property insurance policies cover lots of damages loss caused directly or indirectly. But not all. There are still some loss excluded regardless of any other cause or event contributing concurrently. Why do property insurance policies contain exclusions? Will an exclusion result in partial recovery? Illustrate your answer to the previous two questions with examples from the HO.2.Bob, the named insured, is an auto mechanic. Bob and his wife, Belle, own and drive a Ford. They have 2 children, Ben and Bill. Ben, age 26, is in the U.S. Army, and comes home to visit about twice a year. Bill is 16, lives at home and has a learner’s permit but no permanent drivers license. Ben often rents cars on weekends and drives battle tanks as his assignments. Bob drives the church van to pick-up older members each Sunday. He also test drives vehicles after he has repaired them at his place of employment, Barney’s Garage. Bill has been known to lend the family car to his teenage pal, Bubba. Once, Bubba actually lent the auto to his girlfriend, Brenda. Explain why or why not each of the following characters has coverage under Part A of the PAP. Does the PAP provide coverage if a named insured drives a non-owned auto? What is the definition of a “non-owned auto?”For part you only need to pick one of the assignment.Part 2Pick Your Topic: Choose One of the Assignments Below:Assignment 1: The local community college in your area is conducting a class for potential new homeowners (HO).Realtors, bankers, insurance agents, and others in the real estate field have been asked to be guest speakers during thissix week course. The class meets once a week and participants who have signed up for this course in the past include,young single men and women, married couples with and without children, a few “house flippers,” and occasionally anolder couple looking to finally see the American dream of home ownership come true. As a seasoned insurance agent youhave been approached by the dean of community affairs to create a PowerPoint presentation on what new buyers need to know about homeowners insurance. Your presentation should include:The basic coverages provided by the HO insurance forms.Define important key terms all homeowners should know before signing any contracts.Identify the main property and liability exclusions found in the HO insurance policies and give your “tudents”background on why these exclusions exist.Research and include three other points that your students will need to know when seeking out homeowners insurance. Be thorough in your explanation about why these points are important.Assignment 2:The poor economy has caused the car buying industry to decline. The owner of four area car dealerships has come to you with the idea to offer a course on auto insurance to the general public. The owner hopes to drum up new business and create a partnership with your company in order to increase his sales. He has asked you to create a PowerPoint presentation on what new car buyers need to know about automobile insurance. You need to remember, you may have a lot of young people (late teens, early twenties), and English as a Second Language purchasers attending thiscourse. Your presentation should include:Explanation of how the tort liability system applies to automobile accidents.The classes of people covered under the Personal Auto Policy (PAP).Explanation of the purpose of uninsured motorist insurance (provide a specific example).Description of how insurers settle losses under the PAP.Research on three other points that your “students” will need to know when seeking out homeowners insurance.Be thorough in your explanation about why these points are important.You only choose one of the above assignments. Your PowerPoint presentation should include at least 10 slides, notincluding the title slide and reference slide. Make sure to cite all sources used including your textbook.Save your presentation as a PDF file and submit your assignment to your professor.