Question

What facility do insurers use to cover risks beyond their exposure limits?

Answer 1

Management by objectives (MBO) is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees. The term was first outlined by management guru Peter Drucker in his 1954 book, The Practice of Management.

Answer 2

Explanation:

➡️ Meet with your management team and pinpoint your company’s most vulnerable areas. This could involve your own facility if your shop presents an inherent risk to the public or your employees, or if the general public commonly visits your lobby area or sales lot (if you’re a dealer). For manufacturers of component parts or upfitters, the most likely liability is product. Every business has unique loss exposures. Recognizing them is the first step in proper management.