Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sarah works in a small local company. She owns a small apartment on the third oor and has several goods in her apartment {clothes, computer,

image text in transcribed
Sarah works in a small local company. She owns a small apartment on the third oor and has several goods in her apartment {clothes, computer, tablet, smartphone, TV set, etc.) worth $20,000. She has an old bike, which she uses to commute to the work [she has to pass a small forest} as well as for recreation purposes. However, she likes riding quite fast and, from time to time, she hits pedestrians. She has enough money to buy a new bike, but in the past three of her hikes were stolen. She loves bubble baths and watching soap operas. Unfortunately, she is impatient while preparing a bath, she usually watches TE? and sometimes she forgets to turn the tap off after the tub is full. For each of the following risks or loss exposures, identify an appropriate risk management technique that could have been used to deal with the exposure. Explain your answer. a. Theft of her bike. h. Flooding of Sarah's apartment and the ones downstairs because she left the water running in the bathroom. Liability lawsuit against Sarah arising out of hitting a pedestrian while riding a bike. d. Total loss of clothes, TV set, computer, tablet, and other personal goods because of burglary. e. Damaging the bike's tire in the forest f. Eike's failure resulting in falling down and physical injury. I"

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

Students also viewed these Mathematics questions