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This tenth edition of Fundamentals of Risk and
Insurance marks the 36th anniversary of the first edition,
published in 1972. Over the years, the book
has undergone major change as the field of risk
management and insurance has changed. Emmett
J. Vaughan, an author in the first and all subsequent
editions, guided the revisions over the years to maintain
the text’s primary focus—that of a consumeroriented
text. He was passionate about the field of
risk and insurance, and his passion was reflected in
the book through the decades. Professor Vaughan
saw risk and insurance implications everywhere,
from personal life events to the changing world
around him to the fairy tales he read to his children
(with commentary). His enthusiasm for the
field was infectious and influenced many students
to pursue careers in risk and insurance. I was fortunate
to have him as a teacher, advisor, role model,
and father.
Professor Vaughan died in October 2004, just as
we were beginning to discuss the tenth edition of
the book. This text had been a proud accomplishment
of his for over 30 years, and it is with some
apprehension that I have completed this revision
without his guidance. At its heart, of course, this is
his book. While I have updated it to reflect recent
developments and tried (mostly without success)
to shorten it in parts, the bulk of the text reflects his
thoughts over his forty-plus year career. I hope that I
have been able to capture some of the enthusiasm
with which he approached the field. |
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