Page 101 - RISK Management IC86 Ebook
P. 101
The Insurance Times
Chapter - 9
Assessing Loss Exposures
n Three basic elements of any loss exposure comprise of -:
a) Values exposed to loss,
b) Perils causing loss and,
c) Financial consequences of loss.
n It is the combination of these three that lead to loss exposures.
Mere presence of the values and/or perils does not complete
the loss exposure triangle.
n Following methods of exposure identification are directly
useful in identifying exposures to loss of property whether
real and personal or tangible and intangible:
l Standardised checklists and questionnaire
l Loss histories
l Financial statements like balance sheets, annual reports
l Other records and documents
l Flowcharts
l Personal inspections
l Knowledge & expertise within the organization and
available from outsiders
Website: www.bimabazaar.com Call: 033-22184184 / 40078428 102
Copyright@ The Insurance Times. 09883398055 / 09883380339
