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A3: Insurance & risk management - created from Mind Map
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Protect physical assets
Protect earnings & profit potential
Protect financial transactions
Premiums are pooled by the insurer to invest to grow value of reserves against inflation.
Key person policies allow companies to insure against death or long-term illness of individuals vital to income stream of company.
Risks too big to be covered by a single insurer are assessed & accepted but then passed to a reinsurance company for a proportion of the premium. Lloyd's of London offer a specialist insurance & reinsurance market through its underwritiing syndicates.
Derivatives are used to offset losses when protecting financial transactions.
Insurance & risk management
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- CII - Level 4 Diploma R01 - Financial services, regulation, and ethics (C1: UK fin servs industry in European/global context) Note on A3: Insurance & risk management - created from Mind Map, created by Mark Varela on 14/04/2014.
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- Mark Varela · Apr 2014
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- Jan 18, 2017
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- Created by Mark Varela · Apr 14, 2014
- Copied to Note by Mark Varela · Apr 14, 2014
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