CHAPTER - 1 INSURANCE 1.1 Introduction In law and economics‚ insurance is a form of risk management primarily used to hedge against the risk of a contingent‚ uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss‚ from one entity to another‚ in exchange for payment. An insurer is a company selling the insurance; an insured‚ or policyholder‚ is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged
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and Hofstede‚ 2005‚ 4). However‚ human beings are not programmed same way as the computers are‚ they have reflective ability and may deviate based on unforeseen event. More so‚ culture has strong impact on the way a person act on certain situation. Between 1994 and 2005 over half the U.S. work force was made up of minorities. Currently‚ one third of new immigrants to the U.S. are from Asia. Although these immigrants are classified broadly as “Asians‚” they include a melting pot of nationalities such
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EXECUTIVE SUMMARY “Rising frauds lead to greater operational threat.” Insurance is one of the tools for risk management that aims at reducing the risk on the day-to-day life of individuals‚ organisation and society. At the same time‚ it should also be appreciated that insurance cannot be utilised as a risk free tool for all types of situations. Insurance provides risk management solutions to many situations that fall within the competence of human judgement and managerial skills. Insurance is
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Have you ever wondered how Christopher Columbus and Marie Curie died? Well in the two different stories we read‚ the authors go through and talk about each person’s life from when they were younger to when they died. Throughout the both of the stories‚ you can see that Christopher Columbus and Marie were very much the same. But also the two people are very different. Marie and christopher both died of various types of diseases that slowly made them ill and later killed them. Both tried to accomplish
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Mortgage Fraud Table of Contents Abstract 3 Mortgage Fraud 4 Mortgage Fraud Statistics 4 Reports of Fraud 5 Key players in a real estate & mortgage transaction 5-6 Factors for Mortgage Fraud 7 The Fraud Triangle 7 Common Mortgage Fraud Schemes 8 Who are victims of mortgage fraud? 9 How to avoid becoming a victim of Mortgage Fraud 10 How to report fraud 11 Mortgage Fraud Indictment 11-12
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Parmalat‚ Europe’s Enron of fraud‚ undermined European accounting and reporting standards. The fraud‚ totaling nearly 18 billion euros‚ brought down the Italian dairy giant and ruined investors across the globe. Such a enormous fraud‚ some would assume‚ would need to be highly complex and fully developed in plan as well as execution. However‚ as Parmalat executives began to cooperate in the investigation‚ it was uncovered how rudimentary their fraud was despite the enormity in which it occurred.
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Tax Fraud Fraud Examination Wed. 7-10pm Millions of people all over the world pay taxes each year. These taxes could include amounts collected by the government or similar organization on behalf of the federal government‚ state government‚ local governments and even other taxing authorities. In 2009 alone‚ the Internal Revenue Service received $1.9 trillion dollars in revenue‚ and completed over 236 million returns. “The tax system in the United States depends on voluntary compliance‚ which
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This distinction the Madison makes between a democracy and a republic is that he sees democracy as a dangerous thing‚ but he sees a republic as a way to prevent danger from occurring. Madison describes a democracy as "a society consisting of a small number of citizens‚ who assemble and administer the government in person." Madison continues to say that these societies "have ever been spectacles of turbulence and contention." When Madison talks about democracy‚ he meant a more direct democracy where
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The era in which The Great Gatsby takes place was a unique time in American history. The 1920s were also known as the Jazz Age‚ a time when jazz was the most popular kind of music and was played live in clubs and speakeasies. Organized crime became an explosive problem in America during the 1920s‚ and the Italian mob played a large role in distributing alcohol to the people during Prohibition‚ a time when selling alcohol was banned but drinking it was not. Cars were made accessible to everyone‚ although
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Technological advancements are the key to winning wars; World War II saw the first nuclear weapons‚ World War I saw the first tanks‚ and The Civil War saw the first ironclad warships. The USS Monitor and the CSS Virginia were the first two ironclad warships to battle each other; The Battle of Hampton Roads consisted of the Monitor and Virginia trading blows‚ but neither ships were able to destroy the other and the battle inevitably ended in a stalemate. However‚ one ship certainly must have been
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