RISK MANAGEMENT & PML (NON-LIFE)

Background
The concept of Risk Management is vital area of insurance and is gaining increasing momentum in with number of companies setting up Risk Management Services. The techniques of property risk management through installation of various physical devices, identifying risk factors arising out of economic factors, social, environmental, technological and political changes, and prescribing safety standards are needed inputs for Underwriters. Property, casuality & liability risk management as a continuing process at various levels will minimise / prevent losses and result in reduction in cost of insurance and will eliminate economic waste.

Objectives
This programme aims :

• To provide participants with a perspective of underlying need for Risk Management.

• To bring out technique and channels of Risk Management.

• To acquaint participants with the role of intermediaries in Risk Management.

. To acquaint participants of various Risk management tools & Techniques.

Contents
• Risk Management Process

• Vulnerability analysis and hazard identification

• Special risks factors analysis in key industries like petrochemicals, textile sectors, power plants, hazardous goods manufacturing etc.

• Surveyor’s role in Risk management. & Inspection of risks for special rating.

• Insurance Pricing Risk and Actuarial Methods of Pricing firk.

• Risk Management in marine insurance

• Risk Management aspects of Liability insurance

• Introduction to PML Concepts & Global Trends & their role in Reinsurance

• Mega risks, PML concepts and Risk management process