Business Commons^™

Let It Burn: A Case Study On The Risk Management Practices Of Burning Man Project, Ethan S. De La Torre

Experience Industry Management

Risk management can be defined as a decision-making process of planning, identifying, analyzing, developing a response for, and controlling potential risks with the goal of minimizing the negative impacts of those risks. Risk management is an essential practice for all events, especially large-scale, live entertainment events. The purpose of this study was to examine the risk management practices for Burning Man. The instrument utilized in this study was a best practices guide developed by the researcher. Data were collected prior to, during, and following Burning Man 2022: Waking Dreams. Sources of data include printed material and online sources published by …

Case Study In Enterprise Risk Management: Lion Rock Summer Camps, Inc., Arthur Meaney

Honors Theses

Enterprise risk management is a crucial part of the modern business world. Being unprepared to handle risks that a company may face can lead to financial demise. Since the 1960s, the insurance industry has steadily moved away from the focus on insurance buying. Enterprise risk management strives to identify company-wide risks, evaluate their frequency and severity, come up with risk management and loss control methods, implement said methods, and monitor their effectiveness over time. In this case study, I identify risks for Lion Rock Summer Camps, Inc. and suggest various risk management and loss control methods. Lion Rock Summer Camps, …

The Impact Of Different Worldviews On The Financial Planning Process, Luke Osterhus

Senior Honors Theses

An individual's worldview has an effect on all aspects of their life. Worldview affects the decisions people make, the clothes they wear, the people they interact with, and so much more. What is often overlooked is the impact of worldview on one's view and use of money. Money is universal and everyone has some form of currency or assets. However, the way money is used, whether it is saved, spent, or invested, is often determined by an individual's own concept of money. Additionally, relationships between people are often chosen or influenced by an individual's worldview. Human beings are seen differently …

Uncertainty > Risk: Lessons For Legal Thought From The Insurance Runoff Market, Tom Baker

All Faculty Scholarship

Insurance ideas inform legal thought: from tort law, to health law and financial services regulation, to theories of distributive justice. Within that thought, insurance is conceived as an ideal type in which insurers distribute determinable risks through contracts that fix the parties’ obligations in advance. This ideal type has normative appeal, among other reasons because it explains how tort law might achieve in practice the objectives of tort theory. This ideal type also supports a restrictive vision of liability-based regulation that opposes expansions and supports cutbacks, on the grounds that uncertainty poses an existential threat to insurance markets.

Prior work …

How Liability Insurers Protect Patients And Improve Safety, Tom Baker, Charles Silver

All Faculty Scholarship

Forty years after the publication of the first systematic study of adverse medical events, there is greater access to information about adverse medical events and increasingly widespread acceptance of the view that patient safety requires more than vigilance by well-intentioned medical professionals. In this essay, we describe some of the ways that medical liability insurance organizations contributed to this transformation, and we catalog the roles that those organizations play in promoting patient safety today. Whether liability insurance in fact discourages providers from improving safety or encourages them to protect patients from avoidable harms is an empirical question that a survey …

Transforming The Insurance Sector In Nigeriain Using The Fss 2020 Platform, Chris O. Muo

Bullion

The National lnsurance Commission (NAICOM) is the statutory Regulatory body of insurance business created to ensure the effective administration, supervision and regulation of insurance business and regulate transactions between insurers and reinsurers within and outside Nigeria. FSS 2020 Insurance Sector, in collaboration with NAICOM aims to deepen the insurance market; ensure lnsurance credibility and protect policy holders; Embed governance and risk management framework for the lnsurance Companies; Enhance access to finance (financial inclusion) with business development support and new products; and risk-based capitalization of lnsurance Companies.

Analisis Manajemen Risiko Di Unit Sirkulasi Perpustakaan Fakultas X, Ratih Surtikanti

Jurnal Vokasi Indonesia

The role of records management is often only realized by an organization or a person when there are problems or difficulties that can only be overcome if there is a document that contains the necessary information. analysis of effective record management so organizations can reorganize the existing record management system in accordance with the most important priority for the organization. With the improvement in the organization's records management system is expected in the foreseeable future will not encounter any problems either in the fields of law, finance, as well as the administrative history.

Why Not Rms In In Insurance Agencies?, Zachary S. Finn

Zachary S. Finn

Comments on the significant role played by risk managers in the insurance industry as well as in companies which have limited or no knowledge as to what risk management is.

Insuring Liability Risks, Tom Baker

All Faculty Scholarship

Recent dramatic increases in prices for medical liability insurance, directors and officers insurance, and other lines of commercial liability insurance, together with the exit of some insurers from those lines of business, has placed liability insurance on the public agenda. At the same time, asbestos and environmental losses continue to mount under general liability insurance policies sold long ago, when no one could have predicted the extent or cost of such losses. In combination, these and other related events have raised serious concerns about the insurability of liability risks and have prompted calls for dramatic efforts to roll back the …

Why Not Rms In In Insurance Agencies?, Zachary S. Finn

Scholarship and Professional Work - Business

Comments on the significant role played by risk managers in the insurance industry as well as in companies which have limited or no knowledge as to what risk management is.

The Economics Of Risk, Donald J. Meyer Editor

Upjohn Press

This collection offers an economics-based overview of the various facets of risk. It contains six papers that examine a broad array of research relating to risk. Two papers examine risk management and its application to decision making as well as what researchers have learned over the past few decades in their theoretical investigations of risk. The remaining chapters examine how risk plays out in the particular markets in which it has a significant presence, including casino gambling enterprises, agricultural markets, auctions, and health insurance.

Brief 14: Risk Management, New England Resource Center For Higher Education, University Of Massachusetts Boston

New England Resource Center for Higher Education Publications

The development office accepts a gift of a house from a prestigious donor. The faculty has developed and approved a new core curriculum. The institution recently constructed a new campus center. While these circumstances sound no alarms, all involve elements of risk. The welcome gift of the house, later discovered to be contaminated with mold, will involve a costly clean up. A revised curriculum cannot guarantee that the changes will yield the expected results. The construction of a new building has significant implications for maintenance of the physical plant. In a recent meeting NERCHE’s Chief Financial Officers Think Tank discussed …