Professional Documents
Culture Documents
Final Banking and Insurance
Final Banking and Insurance
Final Banking and Insurance
Umair Khan
(52)
Risk Management is the name given to a logical and systematic method of identifying, analysing, treating and monitoring the risks involved in any activity or process.
Risk Management is a methodology that helps managers make best use of their available resources
Health Care
Public Institutions Governments
The Risk Management process steps are a generic guide for any organisation, regardless of the type of business, activity or function.
7 steps
For example, the nature of your business, the risks inherent in your business and your priorities.
What would be the impact, cost or consequences of that event occurring? (Economic, political, social?)
Insurance
All Risks are not Insurable Essentials of Insurance
Identification of Risks
Quantify the Insurable value Evaluate the choices Proposal Payment of premium Policy Documentation
Insurable Risks
PROPERTY RISKS
Damage to Physical Assets
PEOPLE RISKS
Loss to Employees
FINANCIAL RISKS
Monetary Loss from
LIABILITIES RISKS
Loss from Operations
Product liabilities Public liability Directors & Officers liabilities Errors & Omissions liabilities
Guidelines on documentation