Sample interview questions: How do you assess the insurance needs of a company?
Sample answer:
Assessing Insurance Needs
- Review existing policies: Determine coverage limits, deductibles, and exclusions to identify potential gaps.
- Assess business activities and liabilities: Evaluate core operations, risks associated with manufacturing, services, or products, and legal obligations.
- Identify external factors: Consider industry regulations, market conditions, and potential natural disasters or accidents.
- Conduct risk workshops: Engage key stakeholders to discuss risk appetite, tolerance, and potential scenarios.
- Analyze financial statements: Review balance sheets, income statements, and cash flow statements to assess the impact of potential losses.
- Consult with insurance brokers or consultants: Read full answer
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