Risk Management can efficiently done by controlling the risk. These slides will help you to get all the risk control process details.

1. RISK CONTROL
▫ 2 TYPES:
I. MATERIAL RISK CONTROL
II. WORKPLACE RISK CONTROL
By
Muhammad Ahmad Badar

2. .
MATERIAL RISK CONTROL:
 IMPORTANT ASSETS
I. HUMAN ASSETS
II. PHYSICAL ASSETS (including
money)
III. INTELLECTUAL ASSETS

3. MATERIAL RISK CONTROL
. Fire and other natural peril exposures
i. Fixed location
ii. Transport
 Security exposure
▫ Security threat:
i. Human
ii. Natural disasters

4. Theft:
The act of stealing; the wrongful taking
Malicious Damaged:
Damage with intent to destroy property.
Terrorism:
Destruction of people or property by
people.
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5. Not all destruction is Terrorism:
Destruction Caused due to injustice.
Aimed directly or Indirectly to established a government.
To redress a real.
Technological Exposure:
IT security exposures are worthy of a mentioned at this point.
Thief are using technology as to achieve the aim.
Risk manager is to consider risks related to technology.
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6. Work Place Risk Control:
For most dreaded tasks faced by the risk manager.
It’s a long and Complex process
Risk to employees and visitors:
Includes; Slips, working high up, high noise levels
and explosion.
Job Stress:
Harmful responses when requirement of the job do
not match.
Lead in considerable pressure and Stress.
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7. Factors leading to work stress:
Heavy work load.
Job Insecurity.
Effects of work stress:
Stress can increase your risk for heart disease.
Psychological Disorders.
Other Health problem.
Penalties:
Consequence or disadvantage attached to any
condition.
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8. Job Discriminations:
Unequal treatment on the basis of race and
gender.
Unequal Pay:
Discrimination take place due to unequal pay of
two persons.
Wrongful Termination:
Firing related to protected status.
Retaliation and Harassment:
Harasses or retaliates against an employee, and
discriminates.
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9. Recruitment and Hiring:
excluding the qualified workers through hiring discrimination.
Workplace Facilities:
Certain employees are not allowed to use certain facility.
Risk Control Plan:
Help to meet legal obligations to identify hazards and control.
Regulations of assessing hazard:
Manual Handling
Asbestos (heat-resistant material)
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10. Risk Control Plan
&
Risk Financing▫ .

11. Risk Control Plan:
A Risk Control Plan is a plan that sets out how ALL of the risks in the workplace will be
controlled. A Risk Control Plan will help you meet your legal obligations to identify
hazards, assess risks and control risks.
This is how you prepare a Risk Control Process:
This step by step process should involve people who have the skills to do the work.
Step 1: Establish Effective Communication
-Consult workers through HSRs
-If necessary, HSRs should be elected and an OHS committee set up.
Step 2: Allocate Responsibilities
- Identify who will be responsible for management and coordination.
- Involve HSRs
Step 3: Decide on working arrangements
- Plan how the work will be done and how long each step will take
- Document this in a work plan.
- Make sure resources are available

12. Step 4: Identify Hazards
- Write down the findings in the Risk Control Plan
Step 5: Assess risks
Assess risks so that you can make sure you control them effectively
Step 6: Control Risks
- Decide on risk controls and record them in your Risk Control Plan
- Set out when they should be in place
Step 7: Review Progress and Maintain Risk Control Plan
- Check that each risk control is being put in place according to the
agreed timetable
- If there are delays, work out why and do something about it
- Set up ongoing processes to maintain the plan.

13. Risk financing deductible options
▫ Setting and appropriate deductible level
▫ Analysis the past loss records (preferably for 5 years or more)
by applying the proposed deductible in retrospect to see a
“what if” situation.
▫ factor in incentives for lose control activities, especially if
deductibles are charged to operating or service departments.
▫ Consider the cost of risk management administration such as
handling claims. Cost and availability of out sourced services
may be relevant.
▫ Is the deductible to be funded or un founded
▫ Considered the effect of “aggregate ‘losses even if the single
ancident deemed within capacity of business the effect of
multiple losses must be considered.

14. What is Risk Financing?
-Money consumed in losses, funded either from internal reserves or from purchase of insurance.
-Utilization of source(s) of funds to pay for losses. Source(s) of funds can be classified as internal
or external
Internal Risk Financing
A retention program is established to use funds from with the organization to pay for losses
External Risk Financing
A transfer program (generally through the purchase of insurance) is established to use funds
from without the organization to pay for losses.
Usually, a risk management program combines retention and transfer to form a comprehensive
program for loss protection.

15. Risk financing
captives:
▫ In its most basic form ,a “captive "insurance company is a limited
purpose, wholly owned insurance subsidiary of an organization not
in the insurance business. Its function is to insure some aspects of
the risk faced by its parent organization.
▫ Types of captive
1. Single parent captive
2. Association captive
3. Group captive
4. Agency captive
5. Rent-a-captive
6. Protected-cell captive
7. Rick Financing Through Risk Sharing

16. ▫ THANK YOU
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