Management and insurance personal risk

Abstract

If there is one thing which we can be certain in this world, it is uncertainty which seems to surround all the things we do. This uncertainty is always at the heart of risk and risk is at the very core of insurance. While events occupy the headlines of mass media, there lies beneath them the terrible toll of risk on individuals. It is in the face of risk that people must venture on. All risks cannot be removed, but they can be controlled, minimized, and transferred. Risk management and insurance are the tools to it! As Singaporeans become more affluent and educated, they become more insurance conscious. Their understanding on insurance will also improve over the years. However, there is still a lot of room for improvement. Furthermore, with the increase in costs such as housing and medical expenses, it is important for Singaporeans to be aware of the extent and frequency of the risks they will be facing. This project, "Personal Risk Management and Insurance", attempts to explain and analyze the concepts of risks and insurance which individuals will encounter and need in Singapore. It should contribute to a better understanding of risk management and insurance to the readers and help to clear their doubts about insurance.