Characteristics of risk managmnt
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The document discusses key aspects of personal insurance contracts. It notes that insurance protects the insured, not the property or liability itself. It also discusses assignment provisions, how contracts are drafted primarily by the insurer, and conditions the insured must meet for the insurer to pay a claim such as complying with duties after a loss. Insurance contracts are aleatory in nature as the insurer's payment is based on chance and typically exceeds the premium paid by the insured.
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According to Section 126, “a contract of Guarantee is a contract to perform the promise or to discharge the liability of a third person in case of his default.”
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To indemnify means to compensate or make good the loss. According to Section 124 of the contract Act, “A contract of indemnity a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself or by the conduct of any other person.”
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A contract of indemnity is defined as a contract where one party promises to save the other from loss caused by the conduct of the promisor or a third party. Key elements include an indemnifier who promises to make good any loss, and an indemnified party whose loss will be compensated. A contract of insurance is an example of an indemnity agreement. The indemnified party is entitled to recover damages, costs, and sums paid under any compromise from the indemnifier once a loss event has occurred. However, a life insurance contract is not considered an indemnity because a person's life cannot be replaced or valued in the same way as property.
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2. Contract of guarantee - This involves three parties, where a surety guarantees to a creditor that a principal debtor will fulfill their obligations.
3. Pledge - This is a type of bailment contract where goods are delivered as security for a debt, with the pawnee retaining the goods until payment is made.
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This document discusses various ways in which a surety can be discharged from liability. It defines a surety as a party that guarantees to perform a promise or discharge the liability of a third party (principal debtor) in case of default. A surety can be discharged through revocation, the death of the surety, variance in contract terms, release or discharge of the principal debtor, composition or extension of time given to the debtor, or actions by the creditor that impair the surety's remedies against the debtor. The document provides details on the application of these discharge methods and includes relevant case law examples.
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1. Contract of indemnity involves one party promising to save another from loss caused by the promisor or third party. Insurance contracts are examples.
2. Contract of guarantee involves a surety promising to perform or discharge the liability of a third party (principal debtor) if they default. Guarantee can be oral or written.
3. Bailment involves delivery of goods by one person (bailor) to another (bailee) for a purpose, to be returned when done. Pledge is a type of bailment where goods are delivered as security for a debt.
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This document discusses contracts of indemnity and guarantee under Indian contract law. It defines a contract of indemnity as one where one party promises to save the other from losses caused by the promisor or a third party. It provides an example of Mr. A failing to return to India as promised, making him liable to reimburse the government. It also outlines essential elements, rights of indemnified parties, and types of guarantees.
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2) For a contract of guarantee, a surety guarantees to perform a promise or discharge the liability of a third party (principal debtor) if they default, with the creditor as the other party.
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This document discusses the key aspects of a contract of guarantee under Indian contract law. It defines a contract of guarantee as one where a surety agrees to fulfill a principal debtor's obligations if they default. The document outlines the roles of the surety, principal debtor, and creditor. It also describes the essential elements of a valid contract of guarantee and notes that while the principal debtor must be competent, their incapacity does not invalidate the surety's obligations. The document distinguishes between specific guarantees for single transactions and continuing guarantees for multiple transactions, and provides examples of each.
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- Indemnity clauses transfer risk contractually by having one party promise to compensate the other for certain losses or damages. They are a form of insurance provision.
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There are three main types of contracts discussed in the document:
1. Contract of indemnity - This is a contract between two parties where one party promises to compensate the other for any losses.
2. Contract of guarantee - This involves three parties, where a surety guarantees to a creditor that a principal debtor will fulfill their obligations.
3. Pledge - This is a type of bailment contract where goods are delivered as security for a debt, with the pawnee retaining the goods until payment is made.
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Indemnity and guarantee contract is the topic covered from Business law, it is a brief explanation on indemnity and Guarantee contracts.
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This document summarizes key concepts relating to contracts of indemnity and guarantee. It outlines the rights and responsibilities of indemnifiers, guarantors, creditors, and principal debtors. It also describes different types of guarantees like specific and continuing guarantees. The document discusses how sureties can be discharged from their obligations through revocation, the creditor's conduct, or invalidation of the contract such as through misrepresentation or concealment.
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This document discusses contracts of indemnity and guarantee. [1] A contract of indemnity is where one party promises to protect another from loss caused by themselves or others. [2] A contract of guarantee is where one person (the surety) promises to pay the debt of a third party (the principal debtor) if they default, to the person to whom the debt is owed (the creditor). [3] Essentials of a valid guarantee include the existence of a debt, three parties (principal debtor, creditor, surety), consideration, and an enforceable promise by the surety to pay the debt if the principal debtor defaults.
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This document discusses various types of special contracts in Indian contract law:
1. Contract of indemnity involves one party promising to save another from loss caused by the promisor or third party. Insurance contracts are examples.
2. Contract of guarantee involves a surety promising to perform or discharge the liability of a third party (principal debtor) if they default. Guarantee can be oral or written.
3. Bailment involves delivery of goods by one person (bailor) to another (bailee) for a purpose, to be returned when done. Pledge is a type of bailment where goods are delivered as security for a debt.
Law of indemnity guarantee
This document presents information on the law of indemnity and guarantee in India. It begins with an introduction to business law and the history of contract law in India. It then discusses the key aspects of the law of indemnity, including the definition of a contract of indemnity and the roles and rights of the indemnifier and indemnity holder. Next, it covers the law of guarantee, defining a contract of guarantee and describing the features of such a contract. It concludes by comparing the differences between contracts of indemnity and guarantee.
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2) For a contract of guarantee, a surety guarantees to perform a promise or discharge the liability of a third party (principal debtor) if they default, with the creditor as the other party.
3) A surety's liability is secondary and coextensive with the principal debtor, including all costs, and the surety has rights against the creditor and principal debtor, including rights
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Indemnity and guarantee are both types of contracts where one party promises to compensate another for loss or liability. [1] Indemnity involves two parties, where the indemnifier promises to reimburse the indemnified for losses caused by the indemnifier or third parties. [2] Guarantee involves three parties, where the guarantor promises the creditor payment or performance by the principal debtor. [3] The rights and obligations of each party differ between indemnity and guarantee.
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This document discusses the key aspects of a contract of guarantee under Indian contract law. It defines a contract of guarantee as one where a surety agrees to fulfill a principal debtor's obligations if they default. The document outlines the roles of the surety, principal debtor, and creditor. It also describes the essential elements of a valid contract of guarantee and notes that while the principal debtor must be competent, their incapacity does not invalidate the surety's obligations. The document distinguishes between specific guarantees for single transactions and continuing guarantees for multiple transactions, and provides examples of each.
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This document discusses contracts of indemnity and guarantee under business law. It defines indemnity as a promise to save another from loss caused by one's own conduct or that of a third party. Guarantee is defined as a promise to perform another's obligation or pay their debt if they default. The key parties in each are identified. Rights and responsibilities of an indemnifier and surety are outlined, such as when their liability begins and ends. Specific versus continuing guarantees are distinguished. Methods of discharging a surety's obligations are also addressed.
Life insurance and its types
Life insurance provides a death benefit paid to beneficiaries upon the policyholder's death. Premiums are paid by the policyholder, and beneficiaries receive the payout tax-free. It is a long-term contract where the insurer agrees to pay a stated sum upon the death of the insured in exchange for regular premium payments. There are various types of life insurance policies that differ in duration, premium payment structure, participation in profits, number of lives covered, and payment of claims.
Mf0009 II
The document discusses key concepts in insurance and risk management. It defines subrogation as the insurer's right to stand in place of the insured after a claim is paid to recover costs from alternative sources. It explains the essentials of the doctrine of subrogation, including that it follows the principle of indemnity and substitutes the insurer for the insured's rights up to the amount paid. It also defines indemnity as compensating the insured to the same financial position pre-loss and explains how the contract of indemnity prevents over-insurance and profit from losses.
SMU ASSIGNMENTS- MBA-IV-Finance
This document discusses insurance and risk management. It provides explanations of key concepts like subrogation, indemnity, and anti-selection bias. It also discusses the Motor Vehicle Act of 1988 and the types of static and dynamic risks. The document analyzes insurance products offered through bancassurance partnerships of SBI-New India and ICICI Prudential.
1. Contract of Indemnity (special contracts).pptx
The PPT explains the contract of indemnity, a part of special contract syllabus in the course of B.A. LL.B. It helps students understand the concept of indemnity in Indian contract act and its relationship with guarantee.
What Is a Contract of Indemnity: A Comprehensive Guide
A Contract of Indemnity is a legal agreement where one party promises to compensate or reimburse another party for any loss or damage incurred. In this comprehensive guide, we delve into the key aspects of a Contract of Indemnity, its purpose, elements, and the implications of entering into such agreements.
TOPIC 6.pptx
The document discusses key terms and concepts related to insurance contracts. It covers topics such as:
- The elements required for a valid contract, including offer/acceptance, consideration, capacity, and legal purpose.
- Distinguishing characteristics of insurance contracts, such as the principle of indemnity, subrogation, contracts of adhesion, representation, concealment, and entire contracts.
- Other insurance contract clauses and concepts like incontestable clauses, the aleatory feature, recession, and reformation.
Formation of insurance contract
1) The proposal form contains questions for the proposed insured to answer regarding their personal details, risk details, medical history, and previous insurance experience.
2) By signing the proposal form, the proposed insured represents that their answers are true and will form the basis of the insurance contract.
3) If it is later found that the proposed insured provided false or fraudulent statements, it would constitute a breach of contract on their part.
Similar to Characteristics of risk managmnt (20)
2010 11 pgp1-lab_written report_section_b_group 14_26-11-2010
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Critical Appraisal of Section 124 & 125 of Indian Contract Act, 1872.pptx
Critical Appraisal of Section 124 & 125 of Indian Contract Act, 1872.pptx
What Is a Contract of Indemnity: A Comprehensive Guide
What Is a Contract of Indemnity: A Comprehensive Guide
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What is six sigma
Six Sigma is a method that provides tools to improve business processes, leading to reduced defects, improved profits and quality, and increased employee morale. It aims to reduce process variation to within ±3 standard deviations from the process centerline. Examples of successful Six Sigma projects include reducing cycle times, defects, repairs, downtime, and waste in various processes. Good Six Sigma projects focus on reducing external and internal defects, inefficiencies, costs, and variations through understanding and controlling key inputs and processes. The balanced scorecard is a strategic management system used to align all business activities and KPIs to an organization's vision, by translating high-level goals into practical departmental and cross-functional objectives and metrics.
Glossary of-strat-planning
This document provides definitions for many terms related to strategic planning for community benefit organizations. It defines key concepts like mission, vision, stakeholders, strategic directions, strategic plan, goals, and operational plan. The document emphasizes that the most important part of strategic planning is improving the community, not the specific terminology used.
Directory
This document lists directories for three different areas - Gulgasht Colony & Bosan Road, Multan Cantt, and New Multan. Each area lists stores and services under categories including food/grocery, medicine, books, sentiments, other services, and hotels. Standard store timings are provided at the end.
Delve online services
The document provides details about an entrepreneur project to start an online services business in Multan, Pakistan. It outlines the vision, mission, and business summary. The business will provide grocery, pharmacy, book, and other delivery services online. It presents the product/services, pricing strategy, target markets, organizational plan, marketing plan, risks, team members, financial plan, growth plans, and directory of suppliers in different areas of Multan. The financial plan projects revenues, expenses, assets/liabilities, and equity for 2014-2015. The business aims to initially target Multan city and then expand to other major Pakistani cities.
Product description
This product summary outlines the sale of pens to teachers and students, with a direct marketing strategy. Pens are sold individually for Rs. 10 each, with a net profit of Rs. 11 total based on selling 1 pen.
Mhrm degree examinationmodel question paper paper
This document contains model questions for an MHRM degree examination paper on principles and practices of management. It includes 5 short answer questions worth 3 marks each and 5 long answer questions worth 10 marks each, covering topics such as defining management, management functions and principles, the Fayol theory of management, decision making techniques, conflicts between line and staff, communication barriers, and globalization/multiculturalism. It also provides additional resources on HR management questions and management MCQs.
Enterpuner
Group 08 is comprised of 5 students: Hafiz Rehan, Ali zohaib, Muhammad Islam, Mubashir Nadeem, and Ansar Ijaz. 1TenHost is an IT and design services company founded in 2012 that started by working in cyber cafes and gaming zones and now provides website design, development, and hosting services. Mosaicy is a home interior business founded in 2013 that creates home decor accessories using marble mosaic techniques.
Delve online shopping
Delve Online Shopping provides a wide range of products including food and groceries, health and beauty items, home and furniture, electronics, toys, and sports goods, with a 10% discount on most retail grocery products, making it a one-stop shop. Gift cards are also available for purchase as gifts. The store policies state that refunds require an invoice within 7 days for unopened items, faulty items will be exchanged, and certain items like software, music, and food are non-refundable.
Basic framework of budgeting
The document discusses the basic framework of budgeting. It defines a budget as a detailed quantitative plan for acquiring and using financial resources over a specified time period. Budgeting involves preparing budgets and using budgets to control an organization's activities. Budgets help communicate plans, think about the future, allocate resources, uncover bottlenecks, and coordinate activities. Advantages of budgeting include bringing efficiency, communicating plans, motivating managers, controlling ongoing operations, developing team spirit, reducing wastage, evaluating performance, and educating managers. The document also discusses responsibility accounting, types of budgets including direct labor, production, direct materials, sales, and inventory purchase budgets, and provides an example direct labor budget.
Analogy
This document discusses analogies and provides examples. It defines an analogy as a comparison between two things that highlights similarities in certain aspects, even if they are otherwise dissimilar. Common analogies are explained, such as "as quiet as a mouse" meaning very quiet. Similes are also discussed as a type of analogy that uses "like" or "as" to compare two things, such as "as stubborn as a mule." Examples of analogies from everyday life and literature are given.
181
Swash Enterprises is a startup founded in 2014 that provides online services like content writing, website development, and research. It also runs several online projects, including tipslo.com, kquotes.com, and offlineworker.com, which aims to create 1 million jobs globally by providing short-term offline jobs through the internet.
LettuceBee Kids is a social enterprise founded in 2010 that aims to provide education to street children in Pakistan using both formal and informal methods like blended learning, digital literacy, and character building. The organization is self-sustainable through arts and crafts sales and other business ventures run by the children.
Cooperative Computing is an IT services company founded in
Entre project final
The document outlines an entrepreneur project for an online grocery store called DELVE Online Shopping. It acknowledges those who supported and inspired the project. The business summary explains that the project aims to start an online grocery business to address the market gap and lack of online shopping knowledge in Multan, Pakistan. The business plan provides details on the company and product description, target markets, penetration strategy, organization structure, marketing plan, development plan, risks, product offerings, and founding team.
income@balance sheet
This document provides a summary of the projected costs, revenue, and financials for an auto and mechanical manufacturing workshop over a 10 year period. It outlines the capital costs of machinery, equipment, and other assets totaling over $1.3 million. It also details the projected annual revenue of over $8.6 million in year 1 from services like sheet metal fabrication and machining operations. The financial projections show increasing revenue, profits, and positive cash flows each year with a cumulative net profit of over $42 million by year 10.
start up Enterpuner
Group 08 includes members Hafiz Rehan, Ali zohaib, Muhammad Islam, Mubashir Nadeem, and Ansar Ijaz. 1TenHost was founded in 2012 and provides IT and design services in Karachi. It began by working in cyber cafes and gaming zones and now offers graphics design, website design, web development, and website hosting. 1TenHost helps clients deal with change to lead them to success through market understanding, technical skills, and experience.
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In the realm of effective leadership, a multitude of skills come into play, but one stands out as both crucial and challenging: public speaking.
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Specific ServPoints should be tailored for restaurants in all food service segments. Your ServPoints should be the centerpiece of brand delivery training (guest service) and align with your brand position and marketing initiatives, especially in high-labor-cost conditions.
408-784-7371
Foodservice Consulting + Design
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resource mobilization guidebook for comminute based organizations
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...
Healthy economic development requires properly managing the banking industry of any
country. Along with state-owned banks, private banks play a critical role in the country's economy.
Managers in all types of banks now confront the same challenge: how to get the utmost output from
their employees. Therefore, Performance appraisal appears to be inevitable since it set the
standard for comparing actual performance to established objectives and recommending practical
solutions that help the organization achieve sustainable growth. Therefore, the purpose of this
research is to determine the effect of performance appraisal on employee motivation and retention.
Strategic Org Design with Org Topologies™
Org Design is a core skill to be mastered by management for any successful org change.
Org Topologies™ in its essence is a two-dimensional space with 16 distinctive boxes - atomic organizational archetypes. That space helps you to plot your current operating model by positioning individuals, departments, and teams on the map. This will give a profound understanding of the performance of your value-creating organizational ecosystem.
在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样
学校原件一模一样【微信：741003700 】《(Murdoch毕业证书)莫道克大学毕业证电子版成绩单》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
All the Small Things - XP2024 Bolzano/Bozen
Originally presented at XP2024 Bolzano
While agile has entered the post-mainstream age, possibly losing its mojo along the way, the rise of remote working is dealing a more severe blow than its industrialization.
In this talk we'll have a look to the cumulative effect of the constraints of a remote working environment and of the common countermeasures.
Integrity in leadership builds trust by ensuring consistency between words an...
Integrity in leadership builds trust by ensuring consistency between words and actions, making leaders reliable and credible. It also ensures ethical decision-making, which fosters a positive organizational culture and promotes long-term success. #RamVChary
innovation in nursing practice, education and management.pptx
MSc nursing 2 nd year Government college of nursing Rajnandgaon Chhattisgarh
Colby Hobson: Residential Construction Leader Building a Solid Reputation Thr...
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Enriching engagement with ethical review processes
New ethics review processes at the University of Bath. Presented at the 8th World Conference on Research Integrity by Filipa Vance, Head of Research Governance and Compliance at the University of Bath. June 2024, Athens
Sethurathnam Ravi: A Legacy in Finance and Leadership
Sethurathnam Ravi, also known as S Ravi, is a distinguished Chartered Accountant and former Chairman of the Bombay Stock Exchange (BSE). As the Founder and Managing Partner of Ravi Rajan & Co. LLP, he has made significant contributions to the fields of finance, banking, and corporate governance. His extensive career includes directorships in over 45 major organizations, including LIC, BHEL, and ONGC. With a passion for financial consulting and social issues, S Ravi continues to influence the industry and inspire future leaders.
Comparing Stability and Sustainability in Agile Systems
Copy of the presentation given at XP2024 based on a research paper.
In this paper we explain wat overwork is and the physical and mental health risks associated with it.
We then explore how overwork relates to system stability and inventory.
Finally there is a call to action for Team Leads / Scrum Masters / Managers to measure and monitor excess work for individual teams.
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Characteristics of risk managmnt
- 1. Name Muhammad islam ROLL NO 38 Class (B.com)
- 2. 1. Personal Contracts Insurance protects insured, not the property or liability subject to loss. Assignment provision In property insurance, if ownership of a property changes, insurance contracts (policies) cannot be transferred to another party (buyer) without the insurer’s written consent. In life insurance, the beneficiary or ownership of policy may be freely reassigned
- 3. A contract whose value to either or both of the parties depends on chance or future events, or where the monetary values of the parties' performance are unequal. The insurer's obligation to pay a loss depends on uncertain events Premium paid by Insured < Claim paid by Insurer
- 4. Insurance contracts are drafted by an insurer and an insured must accept or reject all the terms and conditions. Insured gets the benefit of the doubt. Courts tend to construe an ambiguous term in an insurance policy in favor of an insured. Contracts may be altered by the addition of riders or endorsements Rider or endorsement – a document that amends or changes the original policy. cf: Contracts of cohesion Contracts are drafted by both parties.
- 5. An insurer’s obligation to pay a claim depends on whether the insured or the beneficiary has complied with all policy conditions. The insurer may not pay a claim if one or more of policy conditions are not complied. Duties after loss – Homeowners (p. 562) Duties after an accident or loss – Automobile (p. 585) Duties after in the event of loss or damage – CP
- 6. Only one party makes a legally enforceable promise. Insured are not legally forced to pay premium or renew the policy