Legality of Risk Management
Topic: The Legality of Risk Management
1) Assume the role of a chief executive officer.
2) Research a legal case associated with risk management. The case could have occurred in your organization or be found in a literature review.
3) Analyze the case.
4) Identify the pertinent facts and the case's outcome, focusing on the
Financial implications or consequences.
5) Include a description on the existence of a standard of care, duty to meet the standard, failure to meet the standard, and damages that ensued.
6) Provide the case's outcome.
7) Answer the following questions:
What would you do if you were in charge of the issue?
What could the organization have done to avoid the event?
What risk financing techniques could have been helpful in avoiding this event?
What may the organization do to prevent the occurrence from happening again?