Alaskan king crab fishing business, management homework help

Deliverable Length: 1,500 words Part 1Jimborrowed $700,000 from Suburban Bank to buy a boat for his Alaskan kingcrab fishing business. He keeps the boat at a dock owned by theBarnacle Company. Jim also has a contract with the Land shark FishingCompany to transport his crabs from one port to another. Include thefollowing in your paper:Do any of the following parties havean insurable interest in Jim or his property? If an interest exists,explain the extent of the interest. Suburban BankBarnacle CompanyLand shark Fishing Company IfJim did not own the boat but operated it on behalf of the LandsharkFishing, would he have an insurable interest in the boat? Explain youranswer. Part 2The Balut Corporationhas 4,000 sales representatives and employees in the United States whodrive company trucks. The companys risk manager has recommended to thefirms management team that the company should implement a partialretention program for collision losses to company trucks. Include thefollowing in your paper:Explain the advantages and disadvantages of a partial retention program to the Balut Corporation.Identifythe factors that Balut Corporation should consider before it adopts apartial retention program for collision losses for company trucks.