Assignment
1. Refer to the bulk pack article in Topic 3: "Risks Under the Big Top".
a. Consider the first step in the Risk Management Process. Identify and briefly explain two examples of methods that could be used by the Risk Manager of Ringling Bros. and Barnum & Bailey Circus to identify loss exposures.
b. Identify and explain a Property Loss Exposure faced by the circus.
c. Identify and explain a Liability Loss Exposure faced by the circus.
d. Identify and explain a PersonnelLoss Exposure faced by the circus.
e. Identify and explain a Net IncomeLoss Exposure faced by the circus.
2. Refer to the article in our class Blackboard Homework folder on Topic 3: "GM: Ignorance Left "switch from hell" Unfixed"
a.) What very specific type of liability is this "switch from hell" (hint: class discussion on Tylenol)? Also discuss the problems at GM that increased their liability?