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Managing Risk

Real Estate Brokerage Chapter 5
Horizontales
An insurance policy that offers extra liability coverage in addition to an existing policy and supplements and adds additional protection for unforeseen events such as a lawsuit for damages
A nonjudicial proceeding in which a third party determines the resolution of a dispute between parties
Actions taken to prevent internet, computer, and data-related crimes
The process of preparing the organization to operate efficiently and effectively despite departures of personnel. The is especially important in teh event of death, retirement, or other departure of the owner but is good for any position, which also fosters professional growth within in the company as people groom their replacement
The human resource "bible" for managers that directs internal procedures governing employment and employee relations (this manual is meant managers, not for employees)
Evaluation and selection of appropriate property and insurance coverage
A proactive culture enviroment that infuses risk management throughout the organization with offensive strategies that identify potential threats or anticipate crises and assembles procedures to eliminate or minimize risk to the organization
The accessibily of management (including the principal owner or broker) by everyone who works for the company
Insurance carried by an employer to provide medical care and a portion of lost wages to an employee who has a work-related illness or is injured at work
The general circulation document for everyone who works for the company that tells people the day-to-day rules of conduct
The general operations manual that spells out the rules and processes that govern all the company's operations
Verticales
Insurance policy that covers certain claims against the company because of the professinal actions of their workers, including their sales agents
One or more license holders selected be a broker to comply with the broker supervision requirement and supervise the real estate activities of another license holder
A form of coverage that provides income to a business in the event the premises become untenable
A type of alternative dispute resolution where a nuetral 3rd party works with parties to a dispute with the objective of assisting or facilitating the parties to come to a mutually acceptable resolution
A catchall term for all the other documents, notes, and communications that are involved in a transaction