BUSINESS RISKBUSINESS RISK
MANAGEMENTMANAGEMENT
Insurance of
Corporate Business Risks
George Koutinas
Engineer NTUA & ENSP...
SOCIAL-ECONOMIC ENVIRONMENTSOCIAL-ECONOMIC ENVIRONMENT
RISKS & LIABILITIESRISKS & LIABILITIES
BUSINESS
RISKS
- Political-S...
INSURANCEINSURANCE
Basic CharacteristicsBasic Characteristics
 Transfer of Risks to Insurance/Reinsurance
Companies
 Int...
INSURANCEINSURANCE
Parties Involved
**
INSURANC
E
COMPANY
INSURED INSURANC
E
BROKER
RE-
INSURANCE
BROKER
RE-INSURANCE
COMP...
BUSINESS RISKS & LIABLITIESBUSINESS RISKS & LIABLITIES
Main Type of Insurance Covers
 Property & Business Interruption
 ...
BUSINESS LIABILITYBUSINESS LIABILITY
Liability against Consequences Insurance
Cover
- THIRD PARTIES
-
CLIENTS
-
STAKEHOLDE...
BUSINESS RISKS INSURANCEBUSINESS RISKS INSURANCE
Why is it imperative (Ι)
 Damaging events can not be neglected or Human ...
BUSINESS RISKS INSURANCEBUSINESS RISKS INSURANCE
Why is it imperative (ΙΙ)
 Effective management of losses or claims agai...
INSURANCEINSURANCE
Conditions to be effective
 Reliable Insurance Policy
Issued by a
 Reliable Insurance Company
Through...
BUSINESS
INSURANCE & RISK MANANGEMENT
Insurance & Risk Management in order to be
effective needs specific experience &
exp...
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Insurance of Corporate Business Risks

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Insurance of Corporate Business Risks

  1. 1. BUSINESS RISKBUSINESS RISK MANAGEMENTMANAGEMENT Insurance of Corporate Business Risks George Koutinas Engineer NTUA & ENSPM Insurance Expert www.koutinas.gr
  2. 2. SOCIAL-ECONOMIC ENVIRONMENTSOCIAL-ECONOMIC ENVIRONMENT RISKS & LIABILITIESRISKS & LIABILITIES BUSINESS RISKS - Political-Social Status - Non-competitive Product - Bad Management - Ineffective Marketing NON-INSURABLE RISKS RISKS - PROPERTY - CONTRACTS (Force Majeur / accidental ecents, Human errors, etc) DAMAGES INSURABLE RISKS LIABILITIES • Personnel • Public • Clients • Environment CLAIMS INSURABLE RISKS
  3. 3. INSURANCEINSURANCE Basic CharacteristicsBasic Characteristics  Transfer of Risks to Insurance/Reinsurance Companies  International mechanism “tested” over years  Reliable “tool” securing financial stability to every Business (Construction, Products manufacturing – trading, Services etc)  Further to classic “Property & Business Interruption” Insurance, coverage of Liabilities & new contemporary Risks  Tendency to Strict Liability Insurance
  4. 4. INSURANCEINSURANCE Parties Involved ** INSURANC E COMPANY INSURED INSURANC E BROKER RE- INSURANCE BROKER RE-INSURANCE COMPANY INSURANCE POLICY RE-INSURANCE TREATY
  5. 5. BUSINESS RISKS & LIABLITIESBUSINESS RISKS & LIABLITIES Main Type of Insurance Covers  Property & Business Interruption  Cargo & Vehicles  Public (Third Party) Liability  Employer’s Liability  Product Liability /Guarantee & Recall  Environmental Liability  Directors & Officers Liability  Other …
  6. 6. BUSINESS LIABILITYBUSINESS LIABILITY Liability against Consequences Insurance Cover - THIRD PARTIES - CLIENTS - STAKEHOLDERS, PUBLIC AUTHORITIES … ΕNVIRONMENT EMPLOYEES Financial Losses - Bodily Injury / Death - Moral damage, … - Earth Pollution - Water Pollution - Damage to Biodiversity - Bodily Injury / Death - Material Damage - Consequential loss - PUBLIC LIABILITY - PRODUCT LIABILITY EMPLOYER’S LIABILITY Y ENVIRONMENTAL LIABILITY - THIRD PARTY LIABILITY - PROFESSIONAL INDEMNITY - DIRECTORS & OFFICERS CONSUMERS
  7. 7. BUSINESS RISKS INSURANCEBUSINESS RISKS INSURANCE Why is it imperative (Ι)  Damaging events can not be neglected or Human errors & omissions, that may threat the viability of a Company / Project, cannot by any means be completely eliminated.  In the globalized business environment, transactional practice is changing. Claims may more and more frequently be appeared.  Today’s Enterprise, is active in a even high competitive environment.  Competitivity is not merely a «cost» matter of the products and/or services supplied by a Company. It’s also a matter of undertaking business initiatives in a state of «Security», that only Insurance of risks & responsibilities can offer.
  8. 8. BUSINESS RISKS INSURANCEBUSINESS RISKS INSURANCE Why is it imperative (ΙΙ)  Effective management of losses or claims against the company that provides Balance Sheet Protection  «Value» in the Assets of the Company, that is positively evaluated in case of sale or merge of the company  Reinforcement of the Company’s image as far as Reliability and Competitivity, Social Responsibility  Reliability and Accountability towards the Shareholders, the Working Personnel, the State and the Society  Incentive to undertake business initiatives
  9. 9. INSURANCEINSURANCE Conditions to be effective  Reliable Insurance Policy Issued by a  Reliable Insurance Company Through a  Reliable Insurance Intermediary
  10. 10. BUSINESS INSURANCE & RISK MANANGEMENT Insurance & Risk Management in order to be effective needs specific experience & expertise KOUTINAS SA Insurance & Reinsurance Brokers Lloyd’s Coverholders 17 Ypsilantou Str, GR-15232 Halandri, Athens Τ: +30 2106821434, F: +30 2106847454 info@koutinas.gr , www.koutinas.gr

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