Nobody wants insurance but it’s one the necessities of business and life. In this video, the viewer can learn what to look for when reviewing insurance documents and the little things that get missed.
- The history of insurance dates back to the 17th century…when wealthy business leaders in London would gather…in a coffee house to underwrite that trade ships…taking cargo from Great Britain to the colonies.…These members, also known as lloyds, assured shipowners…that if pirates stole their cargo or if the ship were lost…at sea, that they would be reimbursed for their loss…by payment from the members.…Of course, this agreement included payment of a premium…for that security.…
I'm sure that although there may have been some grumbling,…the shipowners slept more soundly knowing…that their precious cargo was insured.…The same concept of financing happens today,…and it's most commonly termed as insurance.…No organizations in the world, including the most valuable…and largest, are able to operate without the security…of having the risk transferred to insurance companies.…
The problems generally arise when the insurance buyer…doesn't fully understand what they've financed.…The shipowners all those years ago, knew fully…
- Explain the process of identifying exposures.
- Cite examples of transferring risk.
- Name the tools used for implementation and monitoring risks.
- Define “organizational amnesia” and explain how to prevent it.
- Describe security concerns an organization may have and explain the cybersecurity tools that may be used to mitigate them.
- Identify the benefits of an employee handbook for mitigating risks.
- Explain the various parts of an insurance policy.
- Summarize the importance of a business continuity plan and describe the steps for creating one.