Question

1)Personal Risk Assessment and Risk Management Techniques‒Evaluate your OR your family’s personal, property, and liability risks and explore options for managing those risks

Requirements (Personal Risk Assessment) ‒Select TWO of the following three categories of risk on which to focus your evaluation

1.Automobile-related risks Discuss both physical damage and liability risks for injury and property damage

2.Homeowner and/or Renter-related risks Discuss both property and liability risks for injury and property damage

3.Life and health-related risks

‒Include these 3 sections (at a minimum) in your discussion; add additional sections as you wish

1.Risk Assessment

2.Potential Methods to Manage Risks

3.Selected Methods to Manage Risks

Answer 1

A)  AUTOMOBILE RELATED RISK:-

1. Risk assessment:-

• Being hit by running vehicles
• Falling from the vehicles
• Injured by objects falling from the vehicles
• Injured by vehicles overturning
• Being injured during vehicle maintenance

2. Potential methods:-

• Prohibit drinking and driving or use of certain nonprescribed drugs.
• If intoxication abuse is proven, have a safety-oriented procedure for dealing with it.
• Implement a mandatory seat-belt policy for drivers and passengers.
• Prohibit using cell phones while driving.
• Recognize that aggression are personality traits that may lead to accidents.
• Have a procedure for driver to follow after any accident.

3. Some selected method-

• Prohibit using cell phone while driving.
• prohibit driving after drinking.
• Do not driving in aggression.
• Regular check the vehicle.
• Timely service and maintenance must be done.

B) LIFE AND HEALTH RELATED RISK:-

1. Risk assessment:-

Behavioural risk factors- These are generally related to ‘actions’ that the individual has chosen to take. They can be eliminated or reduced through lifestyle or behavioural choices. Examples include:

• smoking tobacco
• drinking too much alcohol
• nutritional choices
• physical inactivity
• spending too much time in the sun
• not having certain vaccinations
• unprotected sex.

Physiological risk factors- These factors are those relating to an individual’s body. They may be influenced by a combination of genetic, lifestyle and other factors. Examples include:

• being overweight or obese
• high blood pressure
• high blood cholesterol
• high blood sugar (glucose).

Demographic risk factors- These risk factors are those that relate to the overall population. Examples include:

• age
• gender
• population subgroups, such as religion, occupation, or income.

Environmental risk factors- These factors cover a large range of topics such as social, cultural, economic, and political factors as well as chemical, physical, and biological factors. Examples include:

• access to clean water and sanitation
• risks in the workplace
• air pollution
• social settings.

Genetic risk factors- Factors that are based on an individual’s genes. Diseases like asthma or diabetes, reflect the interaction between the genes of the individual and environmental factors.

2. Potential methods:-

• Avoiding the participation in activities that could harm you like smoking is a good example.
• Do not pick a less expensive health insurance plan that has a higher deductible rate.
• Transferring risk relates to healthcare, the cost of the care is transferred to the insurer from the individual, beyond the cost of premiums and a deductible.

3. Some selected method-

• Choose right kind of insurance.
• Do not perform the activities that can harm.
• Take proper precautions.
• Take regular medicine on time.
• Monthly proper health checkup must be done.