Select an organization with which you are familiar or one you have researched. Identify four hazard...

Select an organization with which you are familiar or one you have researched. Identify four hazard risks (these arise from property, liability, or personnel loss exposures and are generally the subject of insurance). These risks must be pure risks, not broad categories of risks. Then identify which line of insurance coverage protects against those risks.

Five credible sources supporting the research.

Expert Solution

Personal lines insurance includes products such as homeowners insurance, flood insurance, earthquake insurance, renters insurance, automobile insurance, life insurance, disability insurance, umbrella insurance and health insurance. These insurance products protect individuals and families against potentially crushing financial losses caused by fire, theft, natural disasters, death, accidents, lawsuits and illness.

Some types of personal insurance, such as automobile liability insurance, are often required by law in most places in America (and other countries). Required minimum levels of automobile liability insurance, for example, is common and can vary by jurisdiction. Other types of personal lines insurance, such as comprehensive and collision automobile insurance and homeowners insurance, can be required by lenders when property is collateral on a loan. The amount of insurance coverage you can get generally depends on how much an individual is willing to pay in premiums; the more someone is willing to pay, the more insurance they can obtain. Individuals can usually tailor each policy’s coverage and deductibles to strike the right balance between the amount of coverage and the cost of premiums. Premiums can also vary according to where you live

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