Risk Management and Insurance

Tom Smith, a St. John's graduate will be taking a new position as CFO for a large bank headquarted in Los Angeles. Tom will be based in Miami, Florida. Tom has no background in Risk management and Insurance. He has asked for your advice and recommendations. He would like a state of the art program which will encompass the risks he needs to analyze. This program will have the bank's commercial properties as well as Tom's personal properties. As of now the bank owns a 25 story office building in Los Angeles as well as 10 branches in San Diego, L.A. and San Francisco. They own a fleet of 25 vehicles mostly cars which are used by sales personnel. Tom will be opening a branch in Miami, and building a new building in Naples, Florida. His sales people will have 5 cars.... On the personal side Tom is married and has two children ages 6 and 4. He is building a 15,000 square foot home facing the Atlantic Ocean. One side of his home will have a spa and hair salon that his wife will operate. The other side will have an office for his accountant. They own two cars.From the insurance contracts you have studied this semester as well as working with the risk management models, Please construct a risk management and insurance program to assist Tom, with these exposures. You must list 15 perils, coverages and endorsements that may be added. In addition you must give a reason for the advice you are giving Mr. Smith.