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for Professors
Spring 2010 Version
This file as well as all other PowerPoint files for the book,
Risk Management and Insurance: Perspectives in a Global
Economy authored by Skipper and Kwon and published by
Blackwell (2007), has been created solely for classes where
the book is used as a text. Use or reproduction of the file
for any other purposes, known or to be known, is
prohibited without prior written permission by the authors.
3
Risk and Economic Development
Risk
(Figure 1.1)
4
The Importance of an International Perspective
5
The Importance of an International Perspective
6
The Importance
7
The Importance
8
World Merchandise Trade and GDP (Figure 1.2)
Source: WTO
9
The Importance FDI
10
Risk Management and Economic Growth
Growing Importance of Risk Management
12
Role of Risk Management in Economic Growth
13
Defining Risk and Insurance
14
Country Classifications By State of Economic Development
BRIC 15
Worlds Distribution of GDP, Trade & Population
(2002)
16
Worlds Distribution of GDP, Trade & Population
(2009)
17
Country Classifications by Membership
Other (newer)
organizations?
18
OECD Member Countries
19
E.U. Members and Applicants
Map
Risk Classifications
Risk
Loss exposure
Peril
Hazard
Physical hazard
Moral hazard
Risk Classifications Risks
Pure risk
Strategic risk
Risk Management Process
The process
Risk analysis
Identification and evaluation of the possible outcomes associated
with events or activities
Risk control
Exploration of techniques to control adverse outcomes
Risk financing
How to finance the costs of adverse outcomes that occur
26
Discussion Questions
27
Discussion Question 1
28
Discussion Question 2
29
Discussion Question 3
30
Discussion Question 4
31
Discussion Question 5
32