Insurance -5

2. Grid on which risks facing the organization are charted based on potential frequency and severity of loss to the organization.
7. Transfers methods other than insurance by which a pure risk and its potential financial consequences are transferred to another party.
9. _ _ _ _ _ _ _ _ _ _ risk program-risk treatment technique that combines coverage for pure and speculative risks in the same contract .
10. market time when the insurance premium is lower and easier underwriting standards.
11. Score is a qualitative or quantitative measure prioritizing the importance of the risk.
13. method most appropriate for loss exposures that have a low probability of loss but the severity of loss is high
14. shortform of enterprise risk management
15. risk from outside the organization control.

1. ERM always begins with it.
3. risk related to within organization control.
4. option is a provision that provides for payment only if two specified losses occur .
5. market time when the insurance premium is higher with strict underwriting standards.
6. risk control method applied other method of treatment is available.
8. Insurer owned by a parent firm for the purpose of insuring the parent firm’s loss exposures.
12. a holistic risk management strategy