Bonus Chapter C: Managing Risk - McGraw-Hill Introduction to Business

[VIDEO] Insurance Adjusters Assess the Damage from LA Fires

January 31, 2025

The devastating wildfires that have raged in the Los Angeles area will result in an estimated $250 billion in economic losses, making it one of the costliest natural disasters in American history. The video below looks at how private insurance adjusters assess the damage done to LA homes, and the tough choices that many homeowners now face.

Questions:

What service do private insurance adjusters provide for homeowners?
What are some challenges that homeowners will face as they attempt to rebuild after the fires?

Personal Finance, Ethics, Insurance, Crisis management, Natural Disasters, Risk Management, Home ownership

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk, Bonus Chapter D: Personal Finance, Videos

Car Insurance Rates Climb as Vehicle Prices Fall

September 25, 2024

NickelsMcHughMcHugh

During the Covid-19 pandemic, the disruption of global supply chains sent car prices soaring as auto deliveries became erratic and spare parts went scarce. Now that worldwide logistics networks are largely back to normal, however, the cost of cars has been steadily going down. According to the Consumer Price Index (CPI), used car prices fell by 10 percent over the past year while new vehicles are about 4 percent cheaper compared to 2023. Rental cars costs have dropped as well, Continue reading →

Ethics, Supply chains, Transportation, Insurance, Product Distribution, Risk Management, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter C: Managing Risk

Baltimore Bridge Collapse Disrupts Shipments and Insurers

April 12, 2024

NickelsMcHughMcHugh

On the morning of March 26th, the Dali, an enormous container ship, crashed into one of the supporting structures of Baltimore’s Francis Scott Key Bridge, which collapsed soon after. This tragic incident killed six workers on site and caused at least one major injury, along with an economic impact that spans the globe. The Port of Baltimore must remain closed for a few more weeks while the wreckage is cleared, which will require at least seven container ships and hundreds Continue reading →

Operations Management, Global, Ethics, Supply chains, Transportation, Insurance, Product Distribution, Supply & Demand

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter A: Business Law, Bonus Chapter C: Managing Risk

Wildfires Cause Multibillion Dollar Destruction in Maui

August 16, 2023

NickelsMcHughMcHugh

Last week, wildfires on the Hawaiian island of Maui caused unprecedented destruction, killing 106 people and leveling thousands of buildings. The worst damage occurred in the resort town of Lahaina, which will cost billions of dollars and several years to rebuild. Like many other Hawaiian communities, Lahaina relies heavily on the tourism industry, drawing 2 million visitors annually. Of course, thousands of tourists and residents have evacuated the town and the western side of Maui in recent weeks as dry Continue reading →

Economics, Operations Management, Ethics, Entrepreneurship, Tourism, Regulation, Product Distribution, Hawaii, Natural Disasters

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter A: Business Law, Bonus Chapter C: Managing Risk

Hurricane Ian Upends Florida’s Real Estate Market

October 14, 2022

NickelsMcHughMcHugh

Last month, Hurricane Ian devastated communities across the state of Florida, leading to more than 100 deaths and billions of dollars in damage. According to the catastrophe modeling firm RMS, privately insured losses are expected to reach as high as $67 million, making Ian second only to Hurricane Katrina in terms of economic destruction. Unlike previous storms like Katrina and Hurricane Andrew, however, today’s scientists blame climate change for the increasing regularity of severe weather events. That means experts see Continue reading →

Global, Real Estate, Insurance, Natural Disasters, Risk Management, Hurricanes, Florida, Climate change

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk

Hurricane Dorian Causes Billions in Damages to the Bahamas

September 10, 2019

NickelsMcHughMcHugh

Last week, Hurricane Dorian tore through the Caribbean and up the Southeastern Coast of the U.S., causing major damage all along the way. Two islands in particular, Abaco Island and Grand Bahama, faced huge devastation as a result of the tropical storm. According to the United Nations, more than 70,000 people in the Bahamas are now homeless and in need of food and water. (Click here to view a list of vetted relief organizations that are currently seeking donations.) Continue reading →

Marketing, Global, Ethics, GDP, Tourism, Travel, Natural Disasters, Risk Management, Hurricanes, Bahamas

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Bonus Chapter C: Managing Risk

Hurricane Florence Causes Billions of Dollars in Damage

September 20, 2018

NickelsMcHughMcHugh

Last week, Hurricane Florence made landfall on the coast of the Carolinas as a Category 1 storm. So far its effects have been devastating, claiming the lives of 32 people as millions more deal with widespread flooding and loss of power. The storm has also caused a huge amount of damage to buildings and roadways along the coast. According to one estimate by Moody’s Analytics, the total cost to repair all this destruction could climb as high as $20 billion. Continue reading →

Economics, Ethics, Natural Disasters, Risk Management, Hurricanes, South Carolina, North Carolina

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk

Credit Card Companies Begin Phasing out Signatures

April 10, 2018

NickelsMcHughMcHugh

Paying with a credit card is an almost entirely electronic process except for one notable step: the signature. Although this final part of the transaction is meant to provide another layer of security, many consumers quickly squiggle something down on the line just to get the procedure over with. Then there are people like Doug Taylor, who goes the extra mile by signing his receipts with a doodle of a little dog wagging its tail. “It gets a laugh, most Continue reading →

Operations Management, Retail, Innovation, Currency, Security, Credit Cards

Chapter 9: Production and Operations Management, Chapter 17: Accounting, Chapter 20: Money and Financial Institutions, Bonus Chapter B: Technology and New Media, Bonus Chapter C: Managing Risk

Hurricane Maria Deals Major Damage to Puerto Rico

September 28, 2017

NickelsMcHughMcHugh

Over the last month hurricanes have torn through America’s southern coast, inflicting massive amounts of damage to Texas, Florida, and other states in the region. Of course, the U.S. mainland is far from the only place that’s been harmed by these major weather emergencies. Along with devastating Caribbean islands like Barbados and Barbuda, recent tropical storms have also hammered the American territory of Puerto Rico. First it had to endure Hurricane Irma, which only clipped the island’s northern portion Continue reading →

Ethics, Natural Disasters, Risk Management, Hurricanes, Hurricane Maria, Puerto Rico

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk

Estimating the Economic Impact of Hurricane Harvey

August 29, 2017

NickelsMcHughMcHugh

Over the weekend Hurricane Harvey landed in South Texas and began a cycle of major flooding that overwhelmed residents and emergency services. With thousands of people remaining in Houston and its surrounding communities during the storm, first responders spent a lot of time bravely searching for victims and pulling them out of the water. Media outlets then broadcast some of these stories to a shocked American public, leading to an outpouring of support and donations. (Click here for information on Continue reading →

Operations Management, Ethics, Natural Disasters, Risk Management, Hurricane Harvey, Hurricanes

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Bonus Chapter C: Managing Risk