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Insurance in Risk Management

Corporate Governance.

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Insurance in Risk Management

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    1. India Insure Risk Management Services Pvt Ltd Insurance in Risk Management By V Ramakrishna

    2. Corporate Governance It is the acceptance by the management of the inalienable rights of shareholders as the true owners of the corporation and of their own role as trustees on behalf of the shareholders - Committee on Corporate Governance February 8th 2003

    3. Corporate Governance is about.. Commitment to values Ethical Business Conduct Making a distinction between personal and corporate funds Openness, Integrity & Accountability Maintaining confidence of investors- Foreign & Domestic Induce stable source of financing Improving the economic efficiency of the firm.

    4. Risk Management as part of Corporate Governance Business is synonymous with Risk Structured definition and management of risks. Board to be fully aware of the risks facing the company Shareholders to know the process by which the companies manage their risks

    6. Risk Management Risk Management is the Identification, Analysis and Economic Control of those RISKS which can Threaten the Assets (Property, Human) or the Earning Capacity of an Enterprise

    8. Process of Risk Management` Risk Identification Risk Measurement Risk Control Risk Transfer Risk Financing Risk Retention

    9. Risk Assessment

    10. Handling Risk

    12. Insurance

    13. Insurable Risks

    14. Focus Areas for Insurance Management Identification of Internal & External Pure Risks Existing Risk Control Measures Review Risk inspection Risk Audit Scrutiny of Existing Insurance Covers Coverage Rates & Deductibles (Compulsory self insurance) Defining Standard SOP for Claims Control Guidelines on documentation

    15. Key Areas of Consideration Choice of Insurer Industry Rating Claims Settlement ability Sustainability of the company Service levels & infrastructure Choice of Intermediary Representation of the insurance market Knowledge of insurance amongst all industry segments Service levels & infrastructure

    16. Emerging Challenges De regulation of Indian Insurance market Global markets impact on Local market Options for self insurance Market driven pricing

    17. India Insure Risk Management Services Pvt Ltd Thank you

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