Alaskan king crab fishing business, management homework help

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Deliverable Length: 1,500 words

Part 1

Jim
borrowed $700,000 from Suburban Bank to buy a boat for his Alaskan king
crab fishing business. He keeps the boat at a dock owned by the
Barnacle Company. Jim also has a contract with the Land shark Fishing
Company to transport his crabs from one port to another. Include the
following in your paper:

  • Do any of the following parties have
    an insurable interest in Jim or his property? If an interest exists,
    explain the extent of the interest.

    • Suburban Bank
    • Barnacle Company
    • Land shark Fishing Company
  • If
    Jim did not own the boat but operated it on behalf of the Landshark
    Fishing, would he have an insurable interest in the boat? Explain your
    answer.

Part 2

The Balut Corporation
has 4,000 sales representatives and employees in the United States who
drive company trucks. The company’s risk manager has recommended to the
firm’s management team that the company should implement a partial
retention program for collision losses to company trucks. Include the
following in your paper:

  • Explain the advantages and disadvantages of a partial retention program to the Balut Corporation.
  • Identify
    the factors that Balut Corporation should consider before it adopts a
    partial retention program for collision losses for company trucks.