Page 19 - Insurance Times JUNE 2022

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Cover Story

HOW INSURERS CAN

OPTIMIZE RETURN ON

CAPITAL EMPLOYED

FOR INSURANCE

TECHNICAL RISK

MANAGEMENT

That which is already known Risks related to bilateral, regional or international trade
agreements between nations
Business Organizations have always been exposed
Risks related to politics, economic policies,
to various types of risks such as:
environmental policies, etc.
Market Risks
Risks related to Industrial Relations, general socio-
Credit and Insolvency Risks
economic conditions, and so on.
Operational Risks
Other Risks specific to the lines or sub-lines of business
Statutory and Regulatory Risks
pursued
Environmental and Climate Change Risks
Events of the year 2008 had revealed the darkest
Exchange Rate Risks
manifestation of some of these risks, causing an avalanche of
Legal, Reputational and Cyber Security Risks systemic failures, in turn resulting in a global financial
meltdown. Affected Business Organizations had ignored or
underestimated these latent risks only at their peril and had
About the author
to pay an unprecedented price for it, causing a domino effect
on others. Now again the COVID 19 pandemic promises to
Shambhu Nath Roy
prove more disastrous and long-drawn-out on a never-before-
He is among the Top Ten authors on Quora
as regards multiple aspects connected to experienced global scale.
the English language. His answers on En-
glish and Insurance are about to touch a Defining Risk
million views from Quora readers. The Insurance Institute of India defines that:
His interests include reading, writing, teaching, training, Risk is the possibility of adverse results flowing from any
music, poetry and (in younger years) high altitude trekking.
occurrence.
The Insurance Times, June 2022 19