1. APINS CONSULTANTS PRIVATE LIMITED.APINS CONSULTANTS PRIVATE LIMITED.
RISK MANAGEMENTTHROUGH
RISK AUDIT
HEARTILY WELCOMES ALL DELEGATES TO
THE GLOBAL STEEL 2011,16-18 January,2011
TAJ PALACE HOTEL, NEW DELHI, INDIA.
We at APINS take immense pleasure to present before you in brief
our innovative and profitable way of Risk Management through Risk
Audit, a presentation specially prepared for 6th
International
Conference on Steel and Steel making raw materials.
UNDERLINED HEADINGS ARE HYPERLINKED
2. WHAT IS RISK MANAGEMENTWHAT IS RISK MANAGEMENT
“It is a managerial function concerned with the protection of a Firm’s assets,
earnings, legal liabilities and personnel against financial losses that may
result from fortuitous events i.e. accidental happenings. Risk management
is a new managerial discipline which has become a part of business
management in many corporate firms”
PLEASE CLICK ON HYPERLINK
4. WHAT IS RISK AUDIT?WHAT IS RISK AUDIT?
Risk Audit –Process that studies the culture, procedure and structure that
all are directed towards the effective management of potential
opportunity and adverse effects.
WHAT IS THE NEED FOR RISK AUDIT ?WHAT IS THE NEED FOR RISK AUDIT ?
PLEASE CLICK ON HYPERLINK
6. TYPES OF RISK:TYPES OF RISK:
There are basically two categories of risk to deal
with:
A) Dynamic or Speculative Risk : Speculative
(dynamic) risk is a situation in which either profit
OR loss is possible. Example: Betting
B) Pure or Static Risk : Pure (static) risk is a
situation in which there are only the possibilities
of loss or no loss, as oppose to loss or profit
with speculative risk. Example: Premature Death,
Occupational Disability, losses due to fire.
Risk
Pure/ Static
Dynamic/
Speculative
7. Difference between the two RISKS:Difference between the two RISKS:
Dynamic Risk Pure Risk
Cannot be transferred to INSURERS. Can be transferred to INSURERS.
The LAW OF LARGE NUMBERS not
applicable i.e the loss figures can not be
predicted.
The LAW OF LARGE NUMBERS is
applicable i.e the loss figures can be
predicted.
Society may benefit from the risk. Society may never benefit from the Risk.
PURE RISK associated with the great economic and
financial insecurity are:
Personal Risk
Property Risk
Liability Risk
9. DUE TO THE ABOVE
RISKS, BUSINESS
INTERRUPTION WILL
CERTAINLY OCCUR
10. DUE TO THE ABOVE
FOUR RISKS,
BUSINESS
INTERRUPTION WILL
CERTAINLY OCCUR
PLEASE CLICK ON HYPERLINK
11. RISKS EXPOSED DURING MANUFACTURING
PROCESS
The basic raw material used are pig iron, sponge iron, iron ore fines/lumps &
Coking Coal/Met Coke (LAMC) “Low Ash Metallurgical coke)
12. PLEASE CLICK ON HYPERLINK
WE DO NOT SELL INSURANCE POLICY
WE ARE PURELY CONSULTANTS
13. HOW CAN WE BE OF HELP ?HOW CAN WE BE OF HELP ?
RISK AUDIT RISK MANAGEMENT
PLAN
Occupational
health audit
Safety&
Environmental audit
RISK ACCOUNTING &
FUNDING AND LOSS
RECOVERY FROM
INSURER
Selection Of Insurer
Analysis of all existing insurance policies in the
market.
Rationalize Risk/ Rate Code
Providing guidelines for adequacy of Sum
Insured.
Scope of Discounts for reduction of insurance
premium cost.
APINS PROVIDE COMPLETE RISK MANAGEMENT AS OUTSOURCE OF RISK
MANAGEMENT & INSURANCE DEPARTMENT OF YOURS .
OTHERS
PREPARATION
ON SITE AUDIT
DISCUSSION
EVALUATION&
REPORTING
ATTACHED
PRESENTATION
RISK
RETENTION
TRANSFER
OF RISK
PLEASE CLICK ON HYPERLINK
14. FOUR WAYS TO DEAL WITH
THE RISK
RISK
REDUCTION
OF RISK
AVOIDANCE OF
RISK
RISK RETENTION/ SELF
INSURANCE OR FUNDING
TRANSFER OF
RISK
PLEASE CLICK ON HYPERLINK
15. HOW CAN WE TRANSFER THE RISK TO INSURANCEHOW CAN WE TRANSFER THE RISK TO INSURANCE
COMPANIES/ POOL FUNDS LIKE P & I CLUBS ?COMPANIES/ POOL FUNDS LIKE P & I CLUBS ?
Risk like EXPLOSION, FIRE and SPOILAGE can be transferred
through a Standard Fire and Special Allied Perils Policy. This policy
provides coverage against material damage. For example: Building, Plant
and Machinery and Stocks.
Risk like MACHINERY BREAKDOWN can be covered through a
cover named as Machinery Breakdown Insurance. This policy provides
coverage against the breakdown of the equipment.
RADIO ACTIVE CONTAMINATION risk can not be transferred to
any insurance company. However, some safety measures can be
suggested as per the products available in the market.
BUSINESS INTERRUPTION LOSS will certainly occur if in any
case any of the above stated risk happens to take place. This risk can be
transferred through a CONSEQUENTIAL LOSS POLICY.
PLEASE CLICK ON HYPERLINK
16. Instead of all the above mentioned covers we can opt forInstead of all the above mentioned covers we can opt for INDUSTRIAL ALLINDUSTRIAL ALL
RISKS INSURANCE POLICY.RISKS INSURANCE POLICY.
ELIGIBILITY: As per the Normal Product available in
the market.
All Industrial Risks (other than risks rate able under Petrochemical
Tariff) having overall Sum Insured of Rs.50/100 crores and above
in one or more locations in India shall be eligible for IAR policy.
IAR Policy
Section II: Business
Interruption
Section I:
Material Damage
Machinery
Breakdown/Boiler
Explosion/Electroni
c Equipment
Insurance
BurglaryFire and All
Special Perils
“IT COVERS ALL RISKS/PERILS
OTHER THAN THOSE
SPECIFICALLY EXCLUDED.
17. DIFFERENCE BETWEENDIFFERENCE BETWEEN
STANDARD FIRE & SPECIAL PERILS POLICYSTANDARD FIRE & SPECIAL PERILS POLICY
AND IAR POLICYAND IAR POLICY
S.No IAR POLICY STANDARD FIRE &SPECIAL
PERILS POLICY
1. It is unnamed policy subject to
EXCLUSIONS
It is a named Perils Policy.
2. It is issued on RIV basis only Whereas, SFSP can be issued on both
RIV and Market Value policy.
3. Underinsurance can be waived of upto
15%
But here ,the condition of average is
strictly applicable.
18. About UsAbout Us
Apins Consultant Private Limited is working from last three years and
has developed an effective tool of Risk Audit to cater the Risk
Management Industry.Apins has In-house dedicated team of more than
30 members of Experts including engineers, CA’s ,MBA’s & industry
experience holders etc.
Apins has various verticals managed by the experts and experienced
persons including an exclusive vertical for the Research on past losses
and improvement of Risk Management Process.
The team at Apins is also supported byValuable guidance of the senior
insurance officers, carrying an experience of above 30 years.
Apins utilize expertise knowledge of person associated or linked to the
industries as per the requirements.
Presently Apins offices are located at Jaipur, Kolkata & many places in
Rajasthan, Apins has proposed offices in Gujarat, Delhi & other major
cities.
20. Apins is ready to provide you detailed
presentation at your door. Please write/
E-mail us.
Or
Please feel free to call us for subject
discussions. Our representative will be
happy to render the services to you.
21. Contact InformationContact Information
We are available at:We are available at:
Head Office:
Mrs. Ritu Mathur
309-IIIrd Floor
Durga Business Center
Opposite Hotel Gangour
M I Road,
Jaipur (Raj.) India Pin 302 001
Phone: +91-0141-3104548/0141-
4028969
Fax: +91-0141-4027969
E-mail: infojaipur@apins.co
Corporate Office:
Mrs. Preeti Agarwal
12 C, Diamond Heights,
20/1 Chetla Central Road
Opposite Chetla Boys School
Kolkata (W.B.) India Pin 700 026
Phone: +91-033-24491416
Fax: +91-033-24491416
E-mail: infokolkata@apins.co
Corporate Office:
Mr. Pawan Gaur
Suri Niwas,
150, Guman Pura
Kota (Raj.) India Pin 324007
Mob.: +91-9300424152
Mob1.: +91-9300424153
E-mail: infokota@apins.co
Corporate Office:
Smt. V. Dixit
6B3, JNV Colony,
Bikaner(Raj.) India
Mob.: +91-9413389414
E-mail: infobikaner@apins.co
www.apins.co
