Examkin

Soru

Zorluk: Çok zorMethods of Handling Risk

Facing significantly higher operational premiums, the executive board at Osprey Marine Transport initiates a comprehensive overhaul of its liability framework. They authorize three distinct strategic shifts:

1. The corporation immediately ceases all transportation of Class 8 corrosive materials and liquidates its specialized chemical tanker fleet to eradicate all future toxic spill exposure.
2. Management elects to increase the per-occurrence deductible on their primary commercial hull policies from 50,000to50,000 to 250,000, establishing a funded internal capital reserve to pay for these initial damages out of pocket.
3. The legal department successfully negotiates to append a 'hold harmless' provision to all stevedoring contracts, effectively shifting the financial burden of any dockside worker injuries away from Osprey and onto the dock operators.

According to the STARR framework for methods of handling risk, which of the following accurately classifies these three directives in the exact order they were presented?

  1. A
    1. Avoidance, 2. Reduction, 3. Transfer
  2. 1. Avoidance, 2. Retention, 3. TransferCevap
  3. C
    1. Reduction, 2. Retention, 3. Sharing
  4. D
    1. Transfer, 2. Avoidance, 3. Sharing

Cevap

1. Avoidance, 2. Retention, 3. Transfer
The correct answer accurately maps each action to the STARR framework: completely eliminating the hazard by ceasing operations is Risk Avoidance; absorbing a financial loss through a larger deductible and reserve fund is Risk Retention; and utilizing a hold-harmless contractual clause to shift liability to a third party is Risk Transfer.

Adım Adım Çözüm

1
Analyze Directive 1 regarding the liquidation of the chemical tanker fleet.
Identified as Risk Avoidance.
By completely divesting the division and ceasing operations, the company is entirely eliminating its exposure to that specific risk rather than just minimizing it.
2
Analyze Directive 2 regarding the increased deductible and capital reserve.
Identified as Risk Retention.
By increasing the deductible, the company is actively choosing to assume the financial responsibility for the first $250,000 of any hull damage, which is a textbook example of self-insuring or retaining risk.
3
Analyze Directive 3 regarding the 'hold harmless' provision in vendor contracts.
Identified as Risk Transfer.
A hold-harmless agreement is a non-insurance method of shifting the financial burden of a loss from one party (Osprey) to another (the dock operators).

Anahtar Kavram

Methods of Handling Risk (STARR: Sharing, Transfer, Avoidance, Reduction, Retention)
Bu soruyu puanla

Konular

Methods of Handling Risk

Bu konudan daha fazla soru