Are you considering a risky decision? Taking risks is healthy and even necessary to get ahead. But, it can also lead to disastrous consequences. Risk Management for Enterprises and Individuals is for anyone hoping to avoid the downfalls of risk-taking in their personal or professional lives.
Everyone takes risks in life. But it's sometimes difficult to know when the risk is right. Risk Management for Enterprises and Individuals guides readers through all kinds of scenarios where risks can have great impacts. The textbook uses the 2008 financial crisis as a prime example of risk-taking's dark side. By doing so, it delves deep into how risks tremendously affect people's lives. This book is for professionals who make big decisions that impact entire communities, even countries. Yet, it's also for the average person managing risks in their everyday lives.
Risk management has become its own field of study. It combines many disciplines, including law, finance, statistics, psychology, accounting and more. Furthermore, it is an actuarial science that uses data to assess risk in multiple fields. First, Risk Management for Enterprises and Individuals introduces risk management and how the science has developed. For example, how do we define risks? How do we feel about them? What are the different types? What are the dangers? This overview sets up the following chapters that go deeper into specific risks. The textbook includes information about insurance, social security, contracts for home, auto, and business, liabilities, property risk management, and more.
About the Authors of Risk Management for Enterprises and Individuals
Authors Etti Baranoff, Patrick Lee Brockett, and Yehuda Kahane are each deeply embedded in actuarial studies. However, they each come from different backgrounds. With a Ph.D. in finance, Baranoff worked as an insurance regulator before she began teaching risk management in the School of Business at Virginia Commonwealth University in 1995. Brockett holds a Ph.D. in mathematics and is the director of the Center for Risk Management and Insurance Research at the University of Texas at Austin. Kahane is a professor of finance and insurance at Tel Aviv University. He has a Ph.D. in finance, and his research includes a variety of risk-related topics, including automobile insurance, natural hazards, pensions and environmental risks.