1. BUSINESS RISKBUSINESS RISK
MANAGEMENTMANAGEMENT
Insurance of
Corporate Business Risks
George Koutinas
Engineer NTUA & ENSPM
Insurance Expert
www.koutinas.gr

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. 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. INSURANCEINSURANCE
Parties Involved
**
INSURANC
E
COMPANY
INSURED INSURANC
E
BROKER
RE-
INSURANCE
BROKER
RE-INSURANCE
COMPANY
INSURANCE POLICY RE-INSURANCE TREATY

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. 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. 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. 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. INSURANCEINSURANCE
Conditions to be effective
 Reliable Insurance Policy
Issued by a
 Reliable Insurance Company
Through a
 Reliable Insurance Intermediary

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