Page 145 - RISK Management IC 86

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(i) all types of assets which are owned or used by the
organisation. It should cover physical assets like
buildings, machinery, stocks, vehicles, vessels,
mineral deposits, pipelines, land etc as well as
intangible assets like patents, copyrights, royalties,
designs, Information Systems and personnel.

(ii) account must be taken for other facilities on which
the business is dependent, like public utility supplies,
road and rail access, water from the rivers and lakes
etc, the physical, natural, social, economical, legal,
and political environments in which the organisation
operates.

(iii) sources of exposure to loss producing events not
only in terms of insurable perils but others like
industrial espionage .

(v) factors bearing on the size of losses that occur. E.g,
in case of fire , potential sources of the nation
explosion over both inside and outside the premises,
security of the premises, occupation of adjacent sites
and premises, should be covered.

Once the checklist is compiled and completed, it becomes
easier for the risk manager to obtain many answers to his
queries. There are certain other factors however, like

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