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Insuring Against Catastrophes. Lesson Goals: Assess risks Determine and develop risk management strategies Define insurance types and how they relate.

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Presentation on theme: "Insuring Against Catastrophes. Lesson Goals: Assess risks Determine and develop risk management strategies Define insurance types and how they relate."— Presentation transcript:

1 Insuring Against Catastrophes

2 Lesson Goals: Assess risks Determine and develop risk management strategies Define insurance types and how they relate to a home-based or micro business Insuring Against Catastrophes

3 AvoidReduceAcceptTransfer How to manage risk:

4 Basic Types of Insurance Health Life Income Property Liability Insuring Against Catastrophes

5 Liability Insurance Protects against financial losses suffered by others for which you are responsible Insuring Against Catastrophes

6 Types of Liability Insurance Insuring Against Catastrophes General Automobile Product Professional Umbrella Policy

7 1.What are the risks? 2.Rate the likelihood of loss. 3.Rate the size of loss. 4.Consider risk management strategies 5.Discuss with insurance agent/ broker Insuring Against Catastrophes Steps to Determine Insurance Needs:

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