Page 12 - Life Insurance Today June 2015 SAMPLE

This is significantly more than would be expected, yet
precise estimates of risk are still unclear. Approximately
40% of these cases were detected through screening
programmes and may otherwise have gone undetected.
New thyroid cancer cases are likely to be reported in the
coming decades.
The same report revealed that the most serious long-term
public health impact is in the area of mental health. In
addition to the lack of reliable information provided to
people affected in the first few years after the accident,
there was widespread mistrust of official information and
the false attribution of most health problems to radiation
exposure from Chernobyl.
The necessary evacuation and relocation proved a deeply
traumatic experience for many people: their social
networks were disrupted and they had no possibility of
returning to their homes. In addition, many had to face the
social stigma associated with being an "exposed person";
this stigma continues and has led to increases in risk-taking intentionally assuming. Minimizing unintended
behaviour, depression and other neurological and
psychological disorders. "
This incident clearly shows that the impact of accident may
be direct or indirect. Due to release harmful gas not only
the workers died but general public suffered a lot.
The industries should recognize the need for better safety
In sales, a referral is the key to the door of resistance.
8 June 2015
Insurance Training Centre © Call 09883398055 / 09883380339
for their workers and implement measures that will help
to provide better environment to them. As a part of their
risk management strategy the companies should provide
adequate insurance cover for their employees. Now a day's
many innovative and tailor-made group insurance covers
are available.
The companies must compulsorily insure all their
employees' in order to give boost to employees' morale and
emphasize the fact that the company is thinking about
them. Human life is more valuable than property. This fact
needs to be clearly understood by the management and
they should chalk out Enterprise Risk Management strategy
bearing this important aspect in mind.
Risks in underwriting individual accounts: A non-life
insurance company is in the business of assuming risk
from individuals and businesses. Underwriting is the
discipline of understanding and evaluating which risks to
underwriting risk and the risk to the enterprise from
unintended risk accumulations is generally a responsibility
shared between Underwriting and Risk Management
("RM"); both disciplines are critical.
The underwriting function needs to ensure that a robust
infrastructure is in place so when individual accounts are
underwritten the underwriter has: adequate information
on the risk, such that the exposures can be reasonably
known and understood, the skills and experience required
to analyze the risk, and the ability and incentive to design
coverage and price the account properly.
Underwriting authority needs to be granted based on skills
and experience and not on managerial hierarchical level.
Referral authorities need to be in place, as well as effective
auditing to ensure compliance with delegated authorities,
in order to minimize opportunities for "rogue" activities.
The underwriting infrastructure also needs to provide
training and oversight such that applicable laws, statutes,
regulations, filings and so forth are rigorously followed.
Adherence to filed rates, forms and similar measures is
intended to reduce the opportunity for money laundering,
Life Insurance Today