1 / 13

RISK MANAGEMENT & INSURANCE PLANNING

RISK MANAGEMENT & INSURANCE PLANNING. Cholamandalam MS Risk Services. WHY THIS STUDY. TO HAVE BIRD’S VIEW OF THE COMPANY VIS A VIS THE RISKS TO WHICH IT IS EXPOSED TO REVIEW THE EXISTING MANAGEMENT STRATEGIES

gigi
Download Presentation

RISK MANAGEMENT & INSURANCE PLANNING

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. RISK MANAGEMENT & INSURANCE PLANNING Cholamandalam MS Risk Services

  2. WHY THIS STUDY • TO HAVE BIRD’S VIEW OF THE COMPANY VIS A VIS THE RISKS TO WHICH IT IS EXPOSED • TO REVIEW THE EXISTING MANAGEMENT STRATEGIES • TO EXPLORE ALTERNATE STRATEGIES IMPROVEMENTS/ CHANGES IN RISK MANAGEMENT STRATEGIES

  3. TYPES OF RISKS • MATERIAL DAMAGE RISKS • INTERRUPTION RISKS • LIABILITY RISKS

  4. SCOPE OF THE STUDY • Identification of all major internal and external risks including the natural risks and analysis of the impact of above risks • Review of existing risk control measures and offering comments

  5. SCOPE OF THE STUDY • Scrutiny of all existing major insurance policies in respect of: * Rationalization of basic rate of premium and widening of covers * Applicability / eligibility of discounts in premium * Application of suitable clauses, warranties and conditions

  6. SCOPE OF THE STUDY Identification of possible areas for refund of premium and suggestions regarding procedure for the same • Providing guidelines for fixation of sum insured and illustrate the same on a selected equipment • Selection of insurance coverage on the basis of risk analysis

  7. SCOPE OF THE STUDY Evaluation of business interruption exposure due to identified risks • Identification of most critical machines and evaluation of impact due to break down of such machines • Providing guidelines on documentation requirements, procedures for claims under various policies

  8. METHODOLOGY • DATA SOLICITATION THROUGH QUESTIONNAIRE • SITE VISIT • PRESENTATION OF PRELIMINARY REPORT • SUBMISSION OF FINAL REPORT

  9. SITE STUDY- SCHEDULE • OPENING PRESENTATION • FIELD VISIT – 2 DAYS • RECORD PERUSAL & DATA COLLECTION – 3 DAYS • DISCUSSION WITH RESPECTIVE DEPTS. • FINAL DAY MEETING REG. PENDING DATA

  10. REQUIREMENT FOR STUDY • IDENTIFICATION OF OVERALL COORDINATOR • DEPARTMENT WISE COORDINATORS • ACCESS TO DATA

  11. Interaction with… Officials from following departments  • Finance / insurance • Manufacturing / Operations • Maintenance / Plant Engineering • Utilities • Safety & Environment • Personnel Department

  12. Deliverables Risk Management Report Insurance Planning Report • Identification of Risks • Assessment of Risks • Evaluation of Control Measures • Suggestions for risk mitigation and risk financing

  13. Thank You

More Related