Risk and Insurance
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Join us for insights on external and internal risks, risk identification, management strategies, insurance policies, and legal compliance measures at the Risk and Insurance CLCQ Conference 2016.
Risk and Insurance
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Presentation Transcript
Risk and Insurance CLCQ Conference 2016
1 External Risks
Legal and regulatory compliance Investigations by regulators Political Security of funding Security of your information/technology Natural events Clients External Risks
2 Internal Risks
Governance Employees – harassment; wrongful dismissal; anti-discrimination; work place health and safety Culture Internal Risks
3 Identifying the Risks
Risk management framework Identification Analysis Evaluation Treatment Identifying and planning
4 Managing the Risks
Develop, maintain and revise written policies Electronic back up and off-site storage Removal of information/files from office File reviews File opening and closing Recruiting – reference checking Supervision of staff Renewal of insurance Leasing – exercising options; rent reviews; payment of rent and outgoings Renewal of professional registration/practicing certificates Capped liability schemes Systems
Professional indemnity Association liability Public liability Property and contents Business interruption? Workers' Comp Volunteer accident insurance and contents insurance Cyber liability Insurance
Policy wording/terms, schedules, endorsements, exclusions, write-backs Claims made policies Occurrence based policies Proposals/renewals – disclose which you know of and which you know, or ought reasonably know is relevant to the insurer when accepting the risk sections 21 and 28 Notification of claims/circumstances – Insurance Contracts Act protection – sections 40 and 54 Cyber liability Importance of good advice Insurance
5 Conclusions/Questions