Page 144 - RISK Management IC 86
P. 144
Risk Management
insurers, expenditures on risk reduction etc. They provide
several qualitative information, as follows:
(i) data required for the valuation of buildings, plants,
stock and other assets.
(ii) data for quantifying interdependencies between
different parts of an organisation and its dependency
upon particular suppliers and customers.
(iii) details of an organisation's financial arrangement and
financial position.
(iv) Past expenditure on handling risks and the cost of
losses that have occurred.
(c) Check lists - Checklist is important tool of the risk
identification process of the exposure analysis . The most
common method is by completing the checklist of hazards.
Each hazard is considered in relationship to the business
operations.
E.g, the peril of flood leads to consideration of the location
of the prime operations and the potential for inundation
from sea, Flash floods, storm water, drainage backing
up, burst riverbanks etc.
The format of the checklist is largely a matter of personal
preference, the need to cover:
Sashi Publications - www.sashipublications.com 145
Copyright@ The Insurance Times. 09883398055 / 09883380339
