the first party bears the risk if the subject is insured against that particular risk.
the first party bears the risk if the subject is insured against that particular risk.
who bears the risk if the subject is insured against that particular risk?
first party
the insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. the amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium. if the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. the insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risk, especially if the primary insurer deems the risk too large for it to carry.
insurance
regulation 5 requires any employer who exposes employees to risk from vibration to make a 'suitable and sufficient' assessment of that risk. in terms of conducting the risk assessment, an employer is required to assess the daily exposure to vibration by means of consultating with employees about which processes might involve regular exposure to vibration; checking equipment handbooks to see whether they contain any warnings about exposure to vibration when using equipment; and determining whether any employees are showing any symptoms symptomatic of hand arm vibration. the risk assessment should identify people who would be at particular risk from vibration and should be conducted by someone who has a good knowledge of the work processes within the business. consideration should be given to the magnitude, type and duration of exposure; the effects of exposure to vibration on employees whose health is at particular risk from such exposure; effects of vibration on the workplace and work equipment; any information provided by the manufacturers of the equipment; the availability of replacement equipment designed to reduce exposure to vibration; any extension of exposure at the workplace to whole-body vibration beyond normal working hours, including exposure in rest facilities supervised by the employer; specific working conditions such as low temperatures; and appropriate information obtained from health surveillance including, where possible, published information.
control of vibration at work regulations 2005