Glasgow, United Kingdom

Insurance and Sustainable Risk Management

Master's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: MSc
Kind of studies: full-time studies, part-time studies
Studies online Studies online
Master of Science (MSc)
University website: www.gcu.ac.uk
Insurance
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Management
Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.
Risk Management
Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risk management’s objective is to assure uncertainty does not deflect the endeavor from the business goals.
Insurance
Just as we have the power to harm the ocean, we have the power to put in place policies and modify our own behavior in ways that would be an insurance policy for the future of the sea, for the creatures there, and for us, protecting special critical areas in the ocean.
Sylvia Earle, The National Oceanic And Atmospheric Administration in:Effect of Violent Video Games on Kids; Dogs' Efforts to Keep Mail Safe; Spanish Government Sues Over Oil Spills,CNN.com, May 18, 2003.
Management
The remarkable thing about management is that a manager can go on for years making mistakes that nobody is aware of, which means that management can be a kind of a con job.
Akio Morita (1987). Made in Japan, p. 154
Insurance
Microeconomics is the study of how people make decisions in resource-limited situations on a more personal scale. It deals with the decisions that individuals and organizations make on such issues such as how much insurance to buy, which word processor to buy, or what prices to charge for their products or services.
Barry Boehm "Software engineering economics." Software Engineering, IEEE Transactions on 1 (1984): 4-21. p. 4.
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