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Harrington/Niehaus ' Risk Management and Insurance 2e develops general principles or risk management and insurance and provides the essential aspects of insurance contracts and the insurance industry. It provides substantially more conceptual analysis and attention to business risk management and public policy issues than exists in current texts. Individual chapters on specific types of insurance, (i.e. automobile insurance, medical expense insurance, workers ' compensation, and others) utilize the general principles developed earlier in the book to explain specific contract terms and public policy issues. Risk Management and Insurance 2e provides a detailed discussion of why firms with diversified owners would reduce risk and illustrates these reasons using examples from actual firms. Other topics include commercial insurance products, alternative risk transfer, enterprise risk management, and Monte Carlo simulation. Salient Features Earlier emphasis of auto,homeowners,and life insurance issue. New chapter on loss control (chapter 11),business risk retention decisions (chapter 22),and enterprise risk management (chapter 27). Examples,exhibits and current events boxes have been updated.