Academic journal article Journal of Risk and Insurance

Personal Insurance: Property & Liability

Academic journal article Journal of Risk and Insurance

Personal Insurance: Property & Liability

Article excerpt

Personal Insurance: Property & Liability, First Edition, by Karen L. Hamilton and Donald S. Malecki (Need Publisher, 1994).

Reviewer: Alton N. Joyner, Towson, Maryland

This basic text, largely devoted to homeowners and automobile insurance policies and their endorsements and issues, brings together an organized and readable presentation on a broad general treatment of the subject matter. There is a logical progression of material within each chapter and from chapter to chapter.

The stated intention of the book is to prepare CPCU candidates for the future and help develop skills for job performance, but treatment of some of the subject matter in chapter 1 is very superficial and casual. Although an in-depth treatment of each subject addressed is not to be expected, failure to draw attention to areas deserving more exhaustive treatment is a shortcoming. For example, at no point is there a suggestion that the CPCU candidate will need collateral material for assisting clients in the areas of personal loss exposures and risk management.

Although the authors state unqualifiedly that the text deals with personal risk management, only 45 of some 311 pages comprise chapter I on personal loss exposure and risk management-only perfunctory treatment of this extremely important subject for development of job performance skills. A mere 10 pages in chapter 1 provide inadequate and superficial treatment of personal risk management of losses identifiable through financial planning and estate planning. Estate planning is treated as though hardly relevant to comprehensive risk management. Loss exposures occasioned by death or disability are many faceted, yet are barely referred to despite the prevalence, today, of CPCUs who should and do render advisory services on life, group, disability, retirement, and estate tax insurance as an integral part of the risk management process rather than as separate unrelated transactions. …

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