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Chapter 1

Textbook

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Get motivatedif you had a bad time last year

https://www.youtube.com/watch?v=MRQizPcZ!"

http://www.youtube.com/watch?v=#yet$%&'p#


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http://www.youtube.com/watch?v=obq5gJrO3z0http://www.youtube.com/watch?v=obq5gJrO3z0


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FIERY BALLOON ACCIDENT ILL! "# TO$RI!T! IN EGY%T

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&o' do you see the a(tivity )o'*


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Risk and Its Treatment

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A hot-air balloon burst into flames and crashed to the ground in

New Zealand on Saturday, killing all 11 people on board, after

hitting a power line. (January 7, 2012)

Similar accidents continue to happen every year.


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Defi)itio) of RISK'ebster,(om

1-possibiity oA oss o< iEu


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Differe)t Defi)itio)s of Ris+ &bEective Ris@ vs. 5ubEective Ris@

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Subjective risk is defined as uncertainty based on apersons mental condition or state of mind (hot air

balloon => more risky now! How about travelling by

plane after the disappearance of the Malaysia Airlines

Flight 17)Two persons in the same situation may have

different perceptions of risk (you may have no fear if

you are being gun pointed if.)

High subjective risk often results in conservativebehavior

Think about buying stocks


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J +ttitu>ia $aza Mo


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Given the following scenario, state which is thehazard, the peril, and the exposure, respectively?

You recently moved from Beijing to Taiwan andbought a home. typhoon destroys your home.

True or !alse? Twin towers burn to the groundresulting in a complete loss. The fact that theconstruction material is steel is the peril involved in

this loss.


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E6hibit "," Repo 6ota 5avi9s a>"vestmets amo9 6hose Respo>i93 by +9e

"not including value of primary residence or defined benefit plans#

What can you tell from the figures above?


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http://www.youtube.com/watch?

feature=player_embedded&v=Vde

yQaQNckA

http://www.youtube.com/watch?

v=00ZmGa8Q42E

http://www.youtube.com/watch?v

=O4rSiUPGt3A

Amazon testing drones for deliveries

Write down the types of risk involved
http://www.youtube.com/watch?feature=player_embedded&v=VdeyQaQNckAhttp://www.youtube.com/watch?feature=player_embedded&v=VdeyQaQNckAhttp://www.youtube.com/watch?feature=player_embedded&v=VdeyQaQNckAhttp://www.youtube.com/watch?v=00ZmGa8Q42Ehttp://www.youtube.com/watch?v=00ZmGa8Q42Ehttp://www.youtube.com/watch?v=O4rSiUPGt3Ahttp://www.youtube.com/watch?v=O4rSiUPGt3Ahttp://www.youtube.com/watch?v=O4rSiUPGt3Ahttp://www.youtube.com/watch?v=O4rSiUPGt3Ahttp://www.youtube.com/watch?v=00ZmGa8Q42Ehttp://www.youtube.com/watch?v=00ZmGa8Q42Ehttp://www.youtube.com/watch?feature=player_embedded&v=VdeyQaQNckAhttp://www.youtube.com/watch?feature=player_embedded&v=VdeyQaQNckAhttp://www.youtube.com/watch?feature=player_embedded&v=VdeyQaQNckA


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Brain surgery for man hit by wayward toy copter

PatsyMoy and CarolChung

Monday, January 14, 2008,, http://www.thestandard.com.hk

A 44-year-old man underwent emergency brain surgery after he was hit by a remote-

controlled toy helicopter yesterday. Law Kwok-wah was rushed by ambulance to Queen

Elizabeth Hospital with a 20-centimeter-long wound to the back of his head. Law, who

works in a travel company, was said to have over 10 years of experience flying toy

helicopters and had won in local competitions. Police said the accident happened at

1.48pm when Law and his friend, surnamed Wong and over 40 years old, were flying aremote-control helicopter at an open space on Chun Wang Street in Tseung Kwan O.

Police said the man was a friend of the toy owner. Law asked to try the toy and

accidentally hit a button on

the remote control, causing the helicopter to crash into his head.

The blades of the 1.5-meter-long helicopter broke off in the accident. The helicopter,

weighing six kilograms, can fly up to 90 kilometers an hour. Police are still investigating.The Civil Aviation Department said it will follow up the case, adding that licensing is not

required for helicopters weighing less than seven kilograms. The accident happened at a

government site with a warning sign prohibiting flying remote-control toys. But some

aficionados said they simply ignored the warning due to lack of other places in urban

districts for their activities. A Mr Tong, who has been flying remote-control helicopters

for the past three years, estimated there were 50,000 to 80,000 players in Hong Kong.


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http://www.daddyhobby.com 06-02-2009


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The High Court ordered the Incorporated Owners Association of Albert House

in Aberdeen to wind up, ten years after a fatal canopy collapse there, in which

a woman was killed and 13 others injured. It could not repay more than

25 million dollarsin compensation and legal fees within a reasonable

period.ivG,fnI,,!nH0,3uEL

Be aware of the above case when you become a property owner


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bcde : http://www.gaforum.org/archive/index.php/t-101471.html


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Have you heard about the BP oil spill 2010? Not yet settled in 2014

What is the direct loss?Indirect losses?

A US judge has given final approval to

BPs $7.8bn (4.8bn) part settlement with

businesses and individuals who sufferedlosses following its disastrous Gulf of

Mexico oil spill.

The settlement resolves most private

individuals claims for economic loss and

property damage, but it doesnt coverlawsuits brought by the US government or

those brought by the states of Alabama

and Louisiana.

http://www.telegraph.co.uk 22 Nov 2012


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