1. Find TWO articles in insurance or risk management periodicals that interest you. The NMSU Library has online subscriptions to some of these and others. Some examples of insurance periodicals include, but are not limited to, the following:
Benefits Quarterly
Best’s Review (Property-Casualty Edition)
Best’s Review (Life-Health Edition)
Business Insurance
CPCU e-journal
Insurance & Financial Advisor
Insurance Journal
National Underwriter (Property-Casualty Edition)
National Underwriter (Life-Health Edition)
Risk and Insurance
Risk Management
Claims Magazine
Irmi.com
2. Prepare a brief review of each article. Each review should include a synopsis and discussion of the article.
· What interested you about the article?
· Does it relate to any topics we have discussed in class so far?
· What did you learn from the article?
· Did anything in the article surprise you?
· Do you have an opinion on the issues mentioned in the article, etc.?
3. Each review must be double-spaced (12 point font), with a minimum length of one full page and a maximum length of three full pages. Grammar and spelling will be evaluated. Refrain from taking direct phrases and sentences from the article as much as possible, i.e. use your own words.
4. Articles must be from periodicals dated January 2012 or later. Risk management and insurance are dynamic areas with changes occurring at a rapid pace.
5. On or before the due date, turn in a HARD COPY of the reviews, including a link to the article or the first/front page of the article (do NOT rip out a page if using the library’s hard copy).
6. The objective of this assignment is to expose you to the insurance trade literature and to the latest “hot issues” in the industry. In addition, as with any written assignment, it will provide you with the opportunity to develop your writing skills.
7. Reviews will be graded based on quality of content, quality of writing, and how well you have followed the guidelines given above.
Answer
Article Reviews 1 Risk Management The article I am writing about is titled as “Why senior leaders are the Front Line against Cyber-attacks?” Synopsis: Senior executives think that maintaining a healthy professional environment is difficult for them as there are different types of threats involved, when we talk about the risk management in an organization. These risks can be of different nature in the field of information technology. They are spending millions of dollars in making their information secure and comprehensive. Still much more needs to be done. Only understanding the problems or the areas where there is lacking is not enough, but proper initiative to cope up with them is necessary. Perfectly foolproof programs in the field of information technology can mainly be not achieved. Because applying different policies will restrict people to the required data and when it comes to and it is also difficult to change the behavior of users. Review This article is about how to manage the data and information integrity risks in the field of information technology. There are huge organizations having distributed systems and every system has its own functionality according to its geographical locations and scenarios. That’s why it is difficult to have different policies simultaneously. Organizations are spending a large amounts to make their information system very secure and according to an estimate, by the end of year 2020, the investment in information security would reach almost to $3 trillion. Still managing a result oriented environment is difficult. There are different reasons for this because if we only know about the problem it is not just enough but we also need to implement the solutions for it. And these solutions need investment. If we talk about any business, for example, a bank, then it would be very cumbersome for them to innovate their business and at the same time give great business. They are liable to have some trade-off between some risks and customers’ expectations. It means that a department of a company shall collect sensitive data of their customers but when it comes to procurement, may be that data can be lost because of less care than required. Similarly implementing policies and confining employees to certain previlages would not be easy. It will restrict them to a certain field of work where they would not be able to communicate easily. They would be in need to others to help them work in the proper way. For example, a technical person would not be able to communicate the exact price of a product unless he does not confirms it from the sales department. If he is not allowed to access the sales department then he would probably never know about the price of a product. In the same way we cannot change the behavior of users. We can have a proper check and balance in our presence but in our absence may be the data is misused and it can create huge problems in organizations. So the senior management has to involve the concerned people in decision making issues and effective communication of any problem which may occur is very Article Reviews 2 necessary. Senior executives can also push employees to change their behavior for a certain technology. The point which interested me about this article is that senior management should know about the hurdles which come in effective communication among employees and customers and they should cope these issues effective. If there are some risks then they should be compromised to the extent they are not damaging. Insurance The 2 nd review which I am writing, is about “how to get the best deal on car insurance.” Synopsis Insurance companies offer many perks and facilities to senior citizens. As they are well organized and talented in driving which minimize the risks of accidents. Though their reflexes have slowed down but still they are very best drivers as they are responsible and defensive. They have to pay less premiums. The discounts and facilities they get are low-mileage discounts, small premiums and much more. Review In this particular article there is information about the drivers and their insurance policies. There are different sort of policies in the market where people are charged with a handsome premium. Certain insurance companies are having different policies for different age groups. If you are a young lad of 20 to 30 years then you will be paying higher premiums for your car and health. And if you are an older one having an age from 50 to 75 then you will be paying small premiums both for your car and health. The young people are enthusiastic and they often drive recklessly. There are large number of accidents in the world which has been occurred involving people of younger age. They drive fast and they are often charged with high penalties as well but still the rate of accident is not coming down. On the other hand when we take a look to elderly drivers we can have a clear sight of less number of accidents. The reason behind this is that senior citizens consider themselves responsible and they are very defensive kind of drivers. They do not drive fast as they are not in a hurry. They keep eye on every movement in their surroundings and because of their slow driving and carefulness, the insurance companies’ think that senior citizens are the best clients they have in their company. These senior citizens are offered special discounts like low mileage discounts. As they do not often drive, so they are not always on the move. And they are often hired by different driving school to teach driving lessons to the young people as they are experienced. As you grow older you premium also changes. I picked up this article because of its comprehensiveness and it attracted me saying that how the insurance companies are more inclined towards senior citizens when it comes to driving where the insurance policy of cars and health is concerned. Article Reviews 3 In these two articles there are different things which we already have discussed in our class but they are in different context here. References 1. http://www.dailyfinance.com/2014/11/01/car-insurance-best-deal-older-drivers/ 2. http://www.mckinsey.com/insights/business_technology/why_senior_leaders_are_the_fro nt_line_against_cyberattacks