The document discusses the transfer of risk and outlines best practices. It introduces key speakers and covers topics like identifying risks, analyzing incidents and accidents, transferring risk internally and externally, and the importance of contracts and insurance. Examples are provided around supplier risks and lessons learned around properly reviewing supplier insurance and contracts to mitigate exposure. The optimal risk transfer involves a balanced approach of prevention, insurance, and self-insurance depending on the risk level and market capacity.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
This presentation is all about insurance. It will cover some topics.
1-What is Insurance ?
2-Why Insurance ?
3- Type of Insurance
4-What is Risk?
5- Peril and Hazard
6- Transfer of Risk ?
7- Mitigation
8-WHAT IS GENERAL INSURANCE ?
9- Type Of General Insurance
10- Insurance Company Operations
11- Underwriting, Claims Settlement
12- Reinsurance
This is the second part of the Module 1. plz refer the first part before this. This slide is prepared for the MBA students under the finance specialization, with special reference to Kannur university students.
Thanks to My Vimal Jyothi- Chemperi students
Sharing with you my dear readers who may find it useful.
Feel free to connect with me at maxermesilliam@gmail.com.
P/S: taken the insurance exam but has yet to practice as an insurance agent.
This presentation is all about insurance. It will cover some topics.
1-What is Insurance ?
2-Why Insurance ?
3- Type of Insurance
4-What is Risk?
5- Peril and Hazard
6- Transfer of Risk ?
7- Mitigation
8-WHAT IS GENERAL INSURANCE ?
9- Type Of General Insurance
10- Insurance Company Operations
11- Underwriting, Claims Settlement
12- Reinsurance
This is the second part of the Module 1. plz refer the first part before this. This slide is prepared for the MBA students under the finance specialization, with special reference to Kannur university students.
Thanks to My Vimal Jyothi- Chemperi students
BSG: A case study in Innovation. Presented by Jurie Schoeman at the TCI Futur...Jurie Schoeman
I presented at the TCI SA 4th MOBILE FINANCIAL SERVICES OF THE FUTURE CONFERENCE on the 17th September 2014, in Sunninghill, Johannesburg. The topic was 'A case study in disruptive innovation - how to create mobile solutions that customers love using, that are good for business, and that can be built and evolved quickly and sustainably'
Just started your company and don't know what to do ?
- We have just the solution. We at B C Shetty & Co. specialize in providing a smooth base for companies to start from.
200:1 - Do You Trust Your Mobile Security Odds? Blueboxer2014
On Wednesday, November 12, Bluebox Security hosted a webinar titled, “200:1 – Do You Trust Your Mobile Security Odds?” Jeff Forristal, CTO of Bluebox, shares real-life iOS and Android case studies revealing the amount of implicit trust, risk and insecurity found in today’s mobile devices, and what users can do about it.
Watch the recorded webinar in it’s entirety here:
http://offers.bluebox.com/webinar-trust-security-odds.html
The Age of Opportunity: The New Era of Innovation for Business, Technology, a...Frank W. Spencer IV
A Kedge presentation explaining the new age of innovation and opportunity resulting from the postnormal shift, the 7 values of our new environment, and how some of those shifts are shaping our future.
Startups are human institutions that are designed to deliver a new product or service under conditions of extreme uncertainty.
This report - part of the "Inspiring Route" project - analyses and understands the main themes related to Startup and The New Entrepreneurs through stories, examples, numbers, case studies
More than a buzz word or a trend. Omni-Channel retail is a real opportunity for businesses to adapt, scale-up and tap into their potential customer universe. A simple overview of the changing (R)etail landscape, consumer, purchase trends and what businesses need to align to go the Omni-channel way.
A cross-industry inspiration set for brainstorms, new business development and strategy sessions. Note this a preview of what we make customised for our clients.
Created by Marc Heleven & Ramon Vullings - www.crossindustryinnovation.com/21ways
Presentation on Insurance in Cambodia. Terminology of Insurance contracts. Roles of Agents and Brokers. Size of insurance industry worldwide and in Cambodia. Insurers in Cambodia and size. Growth of Insurance market in Cambodia.
The outcome of this session is to understand the fundamentals of insurance, the risk management techniques ,Principles of Insurance contracts & Key Insurance terminologies
On 20 June 2017, FERMA has released proposed guidelines for captive (re)insurance arrangements in order to ensure a consistent implementation of the OECD recommendations on Base Erosion and Profit Shifting (BEPS).
What's wrap up insurance and do i need it FernandoCourts
Wrap-up insurance is the ideal liability policy that guarantees your coverage incorporates everything you need on those multi-million-dollar jobs. If you are primed to take on significant projects, it's time to start considering wrap-up insurance.
Risk intelligence: How to reliably mitigate transaction risk and secure clean...Graeme Cross
This risk intelligence white paper is part of a series of publications from Aon Strategic Advisors & Transaction Solutions (ASATS). The series focuses on risk management and mitigation and is specifically created to help:
• Chief executives and corporate management board members pursuing growth strategies through M&A, or divesting
• Corporate tax managers, development officers and legal counsel responsible for planning, overseeing and / or delivering planned value from M&A
• Chief executive and chief financial officers of private-equity backed portfolio companies
• Private equity executives, portfolio managers and risk officers
• Corporate finance, accounting, tax and legal advisors servicing corporate and private
equity clients
Hidden Insurance Coverage Risks of Mergers and AcquisitionsCBIZ, Inc.
Mergers and acquisitions have increased as leaders look to accelerate growth and gain market share. As these transactions happen in a more condensed time frame than ever before, all parties are rushed to perform a proper due diligence. Don’t let a merger or acquisition void your insurance coverage. This article addresses the potential hidden M&A insurance risks and liabilities you should consider.
Similar to Transfer the risk what is the best (20)
FERMA contribution to the French Presidency agendaFERMA
FERMA thought paper highlights the links between its work and the priorities of the French Presidency in three key areas :
Economic recovery (systemic risks and risk transfer, including captives)
Digital issues (cyber risks and cyber insurance)
Ecological transition (sustainability and insurability)
For each of these categories, FERMA presents the challenges faced by European businesses, explains how risk management contributes to the ambitions of the French Presidency and asks European policymakers for specific measures during this period.
The role of risk management in corporate resilienceFERMA
The report presents the views of risk and insurance professionals and senior executives about a post-pandemic view of resilience management in their organisations across sectors globally in the summer of 2021.
Webinar: the role of risk management in corporate resilience FERMA
FERMA and McKinsey will present the findings of our survey into resilience and risk management. The objective is to give risk and insurance professionals a richer understanding of resilience in a strategic and practical way. Two leading risk managers will discuss the results of our survey and will reflect more broadly on the link between risk and resilience. By the end of the webinar, you will be well versed in resilience from an enterprise risk management perspective.
People, Planet & Performance: sustainability guide for risk and insurance man...FERMA
On 31 March, FERMA releases the first guide specifically for European risk managers on sustainability risks.
People, planet, performance – The contribution of Enterprise Risk Management to Sustainability provides practical guidance on incorporating sustainability goals into enterprise-wide risk management.
Collaboration of the Year Award winner 2020: Pim Moerman and Rob van den Eijn...FERMA
Philips Global Resilience Platform: Breaking down silo approach of departments by collaborating in multidomain platform making our company more resilient
Argo Group: entry for emerging risk initiative of the year Award 2020FERMA
Adam Seager, Chief Risk Officer of Argo Group demonstrates the context, challenges and solutions he put in place for Agor Group during the time of crisis like the Covid19 pandemic.
George Ong, Chief Risk Officer, Northern Ireland WaterFERMA
Nominations for the Public Sector Risk Manager of the Year for the European Risk Management Awards 2020.
George Ong is the Chief Risk Officer for Northern Ireland Water (NIW), a Government Owned Company (GoCo). George joined the business in 2006 with a clear remit of implementing a risk and insurance management system given that the ‘Government Protection’ was to be removed from 1st April 2007. Since then George has worked to adapt, enhance and embed risk management arrangements within NIW, developed partnerships with businesses, communities and institutions to improve resilience for the Company and the community. #euroriskawards
Webinar: Risk management in a global pandemic - Early lessons learned, EU – U...FERMA
FERMA's joint webinar with RIMS on 1 December provided insights into the way risk managers have experienced and dealt with the global pandemic and its consequences.
FERMA and RIMS teamed up to bring you content from both sides of the Atlantic Ocean. The webinar began with a presentation of the results from FERMA’s COVID-19 survey, and then took a Transatlantic view on commonalities and differences.
Speakers:
Athina Pehrman, Group Risk Manager at Electrolux Professional Group, a sustainability leader in the appliance industry
Melanie Steiner, Board Member, US Ecology, Inc. a leading provider of environmental services to commercial and government entities. Former CRO
Typhaine Beaupérin, CEO of FERMA, moderator.
European Risk managers have helped maintain the continuity of their organisations during the pandemic crisis. They have participated in task forces and crisis units, promoted communication, supported new working practices, pursued insurance recoveries where possible and begun work on recovery, according to a survey published by the Federation of European Risk Management Associations (FERMA): https://www.ferma.eu/publication/covid-19-ferma-survey-shows-risk-managers-contributions-to-response-and-resilience/
GDPR & corporate Governance, Evaluation after 2 years implementationFERMA
FERMA’s live joint webinar with ECIIA on Monday 28 September gathered more than 300 participants
The objective of this joint webinar was to take stock of where we stand after 2 years of GDPR implementation and the practical consequences on businesses. For this, FERMA and ECIIA (European Confederation of Institutes of Internal Auditing) invited the following speakers:
- Olivier Micol, Head of Data Protection Unit at the European Commission, Directorate-General for Justice. He highlighted key elements of the recent GDPR evaluation report of the European Commission, shared the latest data and feedback from companies and civil society. He also gave an overview of future planned initiatives.
- Jérôme Avot, Group Risk Officer and Data Protection Officer at Faurecia, a global leader in automotive technology.”The GDPR served as a common thread from the start to the end of the project. We feel we have turned what might have been perceived as a constraint into an opportunity. “
- Ralf Herold, Senior Vice President, Corporate Audit BASF, a leading chemical company. He is an expert in GDPR as Germany was a pioneer in this piece of legislation.
Jérôme Avot and Ralf Herold shared their experience as a Risk Manager and DPO and as an Internal Auditor by exchanging on the changes that the GDPR involved within their companies.
https://www.ferma.eu/webinar-replay-gdpr-corporate-governance-evaluation-after-2-years-implementation/
The European risk manager report 2020: webinar presentationFERMA
This 2020 edition is the opportunity to deepen four challenges that the Risk Manager is facing today:
his growing role in digital transformation
his contribution to sustainability
tougher insurance market conditions
education and skills evolution
The objective of this report is to launch the discussion on the new challenges posed by the European transition to climate neutrality and digital leadership for Risk Managers. How are the roles and responsibilities of European Risk Managers evolving in the face of this new reality? Are Risk Managers equipped to support their organizations in achieving this double transformation?
Our live webinar was scheduled on Monday 29 June 2020: risk managers from different backgrounds shared their experiences on the below themes and reacted to the results of the survey, in particular before and after the Covid-19 crisis.
The speakers were:
Adriana Cavaliere : Corporate Risk Manager at Skeyes, Belgium
Oliver Wild: Group Chief Risk, Insurance and Internal Control Coordination Officer at Veolia, France
Charlotte Hedemark: Chairman of the 2020 FERMA Survey Committee and Board Member of FERMA
Françoise Bergé: PwC Partner
FERMA European Risk Manager Report 2020: full set of results FERMA
This 2020 edition is the opportunity to deepen four challenges that the Risk Manager is facing today:
his growing role in digital transformation
his contribution to sustainability
tougher insurance market conditions
education and skills evolution
The objective of this report is to launch the discussion on the new challenges posed by the European transition to climate neutrality and digital leadership for Risk Managers. How are the roles and responsibilities of European Risk Managers evolving in the face of this new reality? Are Risk Managers equipped to support their organizations in achieving this double transformation?
Webinar: Why risk managers should look at Artificial Intelligence now?FERMA
Risk Managers can be key actors in highlighting to the organisation leadership the opportunities and challenges of AI technologies
On 19 May, the objective of this webinar was to discuss:
How AI can be implemented into the risk management practices?
Which opportunities is AI creating for better risk management?
What are the highlights of the European Commission’s risk-based approach to Artificial Intelligence?
Speakers were:
Philippe Cotelle, Head of Insurance Risk Management at Airbus Defence and Space and FERMA Board member, will highlight the key findings from FERMA’s report on “AI applied to Risk Management”.
Irina Orssich and Eric Badiqué are both working for the European Commission as Team leader and Adviser for Artificial Intelligence in the Unit for Technologies and Systems for Digitising Industry. They will present the Commission’s White Paper on AI and the other EU initiatives which aim at strengthening the EU legal framework regarding AI applications, especially in the field of privacy.
GDPR & corporate governance: the role of risk management and internal audit o...FERMA
The webinar discussed the full results and recommendations of a joint project between FERMA and the European Confederation of Institutes of Internal Auditing (ECIIA), to assess how the EU General Data Protection Regulation (GDPR) impacted our professions, one year after its enforcement. This webinar helped to know:
- To which extent the risk manager and the internal auditor are involved in the GDPR corporate implementation
- How GDPR has affected the interactions between risk management, internal audit and Data Protection Officer (DPO)
- What are the best practices and recommendations to embed personal data protection in the risk and audit governance of your organisation
After one year of GDPR implementation, FERMA and ECIIA sent in May a common basis of five questions to their risk and internal audit members.
The objectives were to:
- Evaluate the roles of the risk management and internal audit functions regarding the GDPR and personal data related risks
- Provide a unique insight into the implementation of the GDPR by companies to the European policymakers
GDPR & corporate governance: The Role of Internal Audit and Risk Management O...FERMA
This paper is a collaboration between FERMA and the European Confederation of Internal Audit Institutes ECIIA and focuses on the impacts of the GDPR on corporate governance practices in the year following its implementation. Most specifically, it looks at the roles played by internal audit departments and risk management functions.
Ferma report: Artificial Intelligence applied to Risk Management FERMA
FERMA brought together a group of experts from within and beyond the risk management community to develop the first thought paper about AI applied to risk management.
Their aim was to perform an initial assessment of the potential value of AI to improve enterprise risk management (ERM), and second, to understand how risk managers can be key actors in highlighting to the organisation leadership the opportunities and challenges of AI technologies.
The working group expects that corporate risk management will benefit from AI in several areas. “From its ability to process large amounts of data to the automation of certain risk management repetitive and burdensome steps, AI could allow risk managers to respond faster to new and emerging exposures. By acting in real time and with some predictive capabilities, risk management could reach a new level in supporting better decision making for senior management.”
This paper aims to guide risk managers on applying AI from a basic understanding to developing their own strategy on the implementation of AI. It includes an action guide and a template for risk managers to develop their own AI risk management roadmap.
Webinar: how risk management can contribute to sustainable growth?FERMA
This webinar will help risk management and sustainability practitioners apply enterprise risk management (ERM) concepts and processes to environmental, social and governance-related risks (ESG)
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
2. Introduction
One of the most relevant particularity of a risk manager’s activity is
its responsibility to imagine and set up the transfer of risk.
The transfer of risk may assume several aspects or possibilities.
The transfer of risk must start with an internal evaluation and
preparation by the company which intends to do so.
The transfer of risk obviously affects the organization which accept
to receive it as well as, potentially, the organization to whom the risk
could be retransferred
The transfer of risk implies that all the parties involved must be
aware about what they are doing and what are the consequences
for themselves and for their correspondents
We will study the link between insured, insurer and reinsurer and the
importance of risk management to succeed on it.
2
3. Introduction of the speakers
Gilbert CANAMERAS
Group Risk & Insurance Chief Officer, VP Finance
Chairman AMRAE
Gaëtan LEFEVRE
Group Risk & Insurance Manager
Group CMI
Chairman BELRIM
Michel JOSSET
Insurance, Prevention and Real Estate Manager
Goup FAURECIA
Emmanuel FIERENS
Chief Underwriting Officer, Head of Business Solution
3
4. What could go wrong ?
Risks, incidents and accidents
People
Property
Information
Finance
Liability
RISKS
Accidents,
Illness
Property loss
Business
interruption
Theft,
fraud
Product &
Environnement
claims
Currency,
Credit & other
risks
5. Transfer the risk – where is it ?
External world
Suppliers
Investors, competitors, ...
Internal world
Business profile
External world
Customers
Society
People
Property
Weather,...
Legal, ...
Results
LIABILITY
Information
LIABILITY
6. Example of a loss due to a supplier
1st experience, the 1st day as Faurecia risk manager :
A staff of the external security company in charge of the watch service
in Audincourt bumpers plant considered that his skills were insufficiently
rewarded and wanted to be noticed by his hierarchy
He ignited a fire on plastic parts in a large bumpers warehouse, failed to
extinguish the fire … but fully achieved his goal to be noticed by his
bosses
As a result :
Warehouse + 6000 bumpers destroyed : loss of 2.2 M€
Propane bottle storage affected. Luckily, no injury.
6
7.
8.
9.
10.
11. Insurance status & Legal procedure
Faurecia property insurer indemnified the loss above the property damage
deductible (400k€)
The responsible was found legally incapable and had no resources
Faurecia & its property insurer started a recourse against the security
company (small company with limited liability insurance) and collected
1.1M€ from the security company liability insurer
The recourse was shared between Faurecia and its property insurer
This event emphasizes the importance of the exposure
suppliers and the importance of contractual prevention
due to
12. Liability : The (re)insurer experience
«The scene »
The liability insurance market is segmented by domain :
(Comprehensive) General liability, Professional Indemnity (E&O),
Stand- alone Products liability, Motor liability, Marine liability, Aviation
liability, Pollution liability, Directors & Officers liability, ect..
Depending upon its activities, to protect against its liabilities,
each Insured is required to purchase several of those insurance policies
The “responses” of those insurance policies depend upon their nature
12
13. Without full knowledge of the contracts signed by the Insureds,
to provide the appropriate insurance solutions for both parties,
the (re) Insurer must solve an equation at five factors :
3 factors iro Insured’s exposures
(U+A+E)
2 factors iro Insured’s contractual approach
(CM+CP)
13
14. The (re)Insurer must well assess
the Insured’s exposures
Understand the Insured’ activities
Assess the risks inherent to the scope
Evaluate the reduction of
Products vs Services,
Underlying risks &
potential perils
Geographical
scope,
activity
scope
risks by the Risk
Management policy
Impact on
exposure level
Markets of
Insured’s
clients
Growth rational:
Organic, acquisition,
diversification,..
Business model: own
operations ; use of
Partners/ contractors –
Prevention & mitigation
capabilities
Development
plan
Joint Venturers, …
Strategic
objectives
14
15. The (re)insurer must well understand
the Insured’s exposures
U
+
Products vs Services,
Underlying risks &
potential perils
Markets of Insured’
Clients
A
Geographical
scope,
activity scope
Growth rationale:
organic,
acquisition,
diversification, …
+
E
Impact on exposure
level
Prevention & mitigation
capabilities
Business model: own
operations ; use of
Partners/ contractors –
Joint Venturers, …
Development plan –
strategic objectives
15
16. The (re)insurer must well understand
the Insured’s contractual approaches
Contract Management
Parties to the deal:
definition of the
Insured(s)
Contractual Policy / Practices
Contractual
culture,
contractual
discipline,
legal support
Jurisdiction
Position towards
performance
guarantees,
financial loss
bearing
Retention vs
Transfer
of liability
Position towards:
hold
harmless /
waiver
of subrogation
Stability of contractual
relationship with Insured’
business Partners
(“repeat risks” vs
“transactional risks”)
16
17. The (re)insurer must well understand
the Insured’s contractual approaches
CM
+
CP
+
Parties to the deal:
definition of the Insured(s)
Jurisdiction
Retention vs
Transfer
of liability
Contractual culture,
contractual
discipline,
legal support
Position towards
performance guarantees,
financial loss
bearing
Stability of contractual
relationship with
Insured’ business
Partners
(“repeat risks” vs
“transactional risks”)
Position towards: hold
harmless /
waiver
of subrogation
17
18. Illustration : Main current technical issues by Occupancy
Electro Magnetic Fields (EMF)
: Telecom
Genetically Modified Organisms (GMO)
: Food, Agro
Nanotech
: Manufacturing
Mould, Chinese drywall
: Homebuilding
REACH – Registration, Evaluation, Authorization and restrictions of Chemicals : Chemicals
Pollution – Environment Impairment
: Oil& Gas, Manufacturing
Occupational Diseases
: Mining, Manufacturing
Silicosis
: Mining
Workers Compensation, Employers Liability
: Manufacturing
18
19. Risk analysis
Faurecia depends more and more upon suppliers (supply of
products, service,... including presence on Faurecia sites)
Faurecia is seriously exposed in case of damage due to
suppliers if the latter is insufficiently insured or if a limit of
liability of the supplier exists in the contract.
Faurecia would get its indemnification from its Property or
liability Insurer but would lose its deductible and may suffer
increase of premium due to loss record if the Insurer can not
file recourse against the supplier.
20. Training set for purchasers
established with our broker
How to review & negotiate the liability & insurance provisions
in a supplier contract :
Avoid a waiver of recourse or a too low limit of liability
from Faurecia side
Obtain a sufficient level of liability coverage from the
supplier’s side
How to review the insurance certificates provided by the
suppliers
21. Level of liability insurance for the
supplier
Guidelines given to the purchasers. The level of insurance will
depend on :
The type of supply : on site service, products (safety
subcomponents or not)
The type of liability : professional liability, products liability
The size of the supplier (local or worldwide)
The country of origin of the supplier depending on the
maturity of the local liability insurance market
22. Faurecia minimum required covers versus
Local Insurance market offer by country
Pure servicing (cleaning, security, …)
Faurecia
Minimal
required
covers
Equipments (transfer,
conformity, IT,
maintenance)
Products (sorting,
retouche, interim work)
General Liability including Professional Liability : 15 M EUR
from which Pure Financial Loss/ Professional Liability : 5 M EUR
CHINA
General Liability including Professional
Liability 1,5 M EUR
From which Pure Financial
Loss/Professional Liability 1 M EUR
Idem
Idem
MEXICO
General Liability 15M EUR OK
from which Pure Financial
Loss/Professional Liability : 5 M EUR:
OK
Idem
Restrictions for
security equipment
Idem
-----
23. LESSONS LEARNT
In a large corporation where thousands of contracts are signed
yearly with suppliers, the insurance department can not review
each and every contract :
Training of the purchasers is the key
Absence of waiver of recourse is the main point to be
achieved
Level of insurance of the suppliers : the expertise of the
brokers is needed to give realistic objectives to purchasers
All should be well-received by the Insurer
24. The underwriting
by the liability (re)Insurer :
From the review of the parameters of the “Insured’s specific risk equation:
(U+A+E) X (CM+CP)
When the (re)insurer is satisfied with its risk mapping
When the (re)insurer has established loss scenarios of different scales
When the (re)insurer has identified what he does not know !
The (re)Insurer can come up with the Appropriate Solution,
negociated with the Insured and its Broker
24
25. Aggravating items in a liability insurance policy
from an underwriter ‘viewpoint :
Each and Every versus Annual Aggregate
Accumulation between policies
Additional Insured, Joint-Venture
Reinstatement: Around The Clock or side by side
Full Prior Acts, Retro Date at Inception, Continuity Date
Extending Reporting Period
Aggregation: Batch or Serial Clause
Single year versus multi-years policies; Duplication of Limits
versus anti Stacking
Underlying Erosion and Drop-down
Defence costs outside limits of indemnity
25
26. From our claim experience in liability classes ,
the risk transfer from the Insured’ viewpoint ….
Success Factors
• Adequate procurement policy
• Regular re-assessment of business
partners
• Alignment between contractual policy
and self financing capabilities +
liability insurance market capacity
• Regular gap analysis and remedies
embedded in the Risk Management
policy
• Knowledge of capacity levels
available in the concerned liability
insurance segments (class/country)
• Opening to Alternative Claim
Resolution before litigation
• Existence of monetary caps in
contracts
• Recognition of which size matters to
access adequate insurance solutions
Failure Factors
• Inadequacy between risks conditions
faced and contracts wording
• Insureds accept contract conditions
that he does not master
• Lack of knowledge of legal
environment where Insureds have
operations or sales of
products/services
• Insufficient awareness of
globalisation impact
26
27. Risk Management
Standard Process
Define Strategic, Organisation and
Risk Management Context
C
O
M
M
U
N
I
C
A
T
I
O
N
Identify
Analyse
Evaluate
Treat
P
I
L
O
T
A
G
E
/
M
O
N
I
T
O
R
28. How to manage the identified risks ?
G
O
Prevention
Reduction
Transfer
the risk
Keep
the risk
L
•Workmen compensation
•Insurance
•Self insurance
•Vehicles
•Contractual aspects
•Deductible
•Property
•Subcontractor
•Liability
A
•Outsourcing
•Waiver of
recourse
SPECIFIC ACTION PLANS
•Prevention / Protection
programs
Incident Management
Risk Assessement
committee
32. Illustration : key features of
Professional Indemnity (PI) vs General Liability (GL)
PI: Damages arising from professional services breach
GL: Damages arising from operations
PI: Costs included within limit of indemnity
GL: Costs in addition to limits
PI: Written on claims-made basis
GL: Written on occurrence basis
PI: Financial loss claims
GL: Bodily injury and property damage with consequential
financial loss
PI: Allow additional Insured clearly determined
GL: Can provide additional Insured on blanket form basis
32
33. Illustration : main items of vigilance today for tomorrow
anticipated manifestation (Sourcce Marsh Mac Lennan doc)
33