Intro to insurance and risk management.
Do any of the following parties have an insurable interest in Jim or his property? If an interest exists, explain the extent of the interest.
Suburban Bank
Barnacle Company
Landshark Fishing Company
If Jim did not own the boat but operated it on behalf of the Landshark Fishing, would he have an insurable interest in the boat? Explain your answer.
Explain the advantages and disadvantages of a partial retention program to the Balut Corporation.
Identify the factors that Balut Corporation should consider before it adopts a partial retention program for collision losses for company trucks.