Because Many Private Insurers Are Reluctant to Provide Coverage in High-Risk

question 20

Multiple Choice

Because many private insurers are reluctant to provide coverage in high-risk areas, some states have created ______ _______, which offer subsized coverage to high-risk properties and impose additional fees on all insurance contracts in the state to cover the losses of a major disaster.

• A) coastal protections
• B) safety nets
• C) catastrophic insurance
• D) insurance pools

Appreciate the continuous improvement processes in organizations and how they support operational excellence.

Analyze the role of technology in modern manufacturing and service delivery.

Understand the concept of the value chain and its analysis to improve efficiency and effectiveness in operations.

Understand the basic principles and terminologies of economics such as marginal cost, opportunity cost, and efficient markets.

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Definitions:

Initiative

The ability to assess and initiate actions independently, often leading to innovation or problem-solving.

Flat Structure

An organization structure that has wide spans of control and few hierarchical levels.

Decision Making

The process of selecting a course of action from several alternatives to achieve a desired outcome.

Levels of Management

The hierarchical layers of authority in an organization, typically ranging from top management to middle management to lower management.