RMI - Analyzing Risk [LESSON]

Analyzing Risk

In this lesson, we will explore how to analyze risks to make insurance decisions.

Knowledge Point

So far in this module, you have learned about possible risks a business might encounter as well as strategies that can be used to minimize potential financial loss. One major strategy that businesses use is business insurance. In the last lesson you learned that business owners must understand the various types of insurance available, and they must analyze and assess business risks to decide which insurance their business might need. 

Analyzing Risk | Presentation

So, how do business owners analyze risks? Review the presentation below to find out.

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Interesting Insurance Facts | Activity

Flip through the cards to learn some interesting facts about insurance over the years. Which one do you find unbelievable!?

Analyzing Risk | Self-Assessment

Put your learning into practice. Use the activity below to assess your knowledge of analyzing risk.

Reflection

Risk analysis is an important process that individuals and businesses use to make informed decisions about the type of insurance to purchase. Identifying risks, assessing their probability, quantifying the risks, and analyzing risk mitigation strategies are all a part of the decision-making process when it comes to choosing insurance type and coverage.

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Ask a parent or an adult about the various types of insurance coverage they pay for. Can you think of any other types of insurance coverage that would be beneficial when you are an adult? 

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