Insurance has been defined as one of important means of managing financial effects

of risks on businesses and individuals. Good risk management help reduces cost of Insurance.

In the light of the above and as your midterm exam, you are required to write a report

of no more than 3000 words about Risk management and its importance for

businesses as a menace of reducing the risk of possible losses and consequently

reducing cost of insurance.

In your report, the following points need to be highlighted and addressed.

A) Meaning and objectives of risk management. (1000 words)

B) Risk management process.

( 1000 words)

C) Identifying and analysing loss exposure.

(2000 words)

D) Selecting the most appropriate risk management tool and approach. (2000 words)

E) Requirements of an Insurable Risk ( 1000 words)