Risk management and Insurance
1. UNDERSTANDING
THE RISK
e) risk is the probability of a different result with the expected (Herman Darmawi)
a) risk is a variation of the
outcomes that could occur during a specific time period (Arthur Williams and
Richard, m. H)
b) risk is the uncertainty that may
bore the loss event (a. Abas Salim)
c) risk is the uncertainty over the
occurrence of an event (Soekarto)
d) Risks are the dissemination/deviations from the actual results expected
results (Herman Darmawi)
e) risk is the probability of a different result with the expected (Herman Darmawi)
2. All kinds of risks according to
their nature:
a.
risk of unintentional
(pure risk) is the risk that if there is a sure cause of occurrence of harm and
without intentional, such as the risk of catastrophic fire occur, lam, heft,
etc.
b. the deliberate Risk (speculative
risk) is the risk of accidentally inflicted by those concerned, so that the
occurrence of uncertainty gave him the advantage, for example, the risk of the
debts, gambling, trade futures (hedging), etc.
c. fundamental Risk is the risk that
the cause cannot be delegated to a person
and who suffer from not just one or a few people, but a lot of people, such as
floods, hurricanes, etc.
d. Special Risk is the risk that is
sourced on the events and generally easy known causes, such as ship aground,
the aircraft crashed car, collision, etc.
e. dynamic Risk is the risk arising
due to the development and progress in society (Dynamics) Economics, science
and technology, such as the financial risk, the risk of space flight.
According to can-whether, the risk is transferred to the other party are
distinguished into:
a. the risks can be transferred to
another party, charged with an object that will be exposed to the risk to the
insurance company, by paying a certain amount of insurance premiums, so that
all losses be dependents (moved) to the company insurance.
b. risks that cannot be transferred
to another party (cannot be insured); generally includes all kinds of
speculative risk.
According to sources/causes of the
incidence, risk can be distinguished into:
a. internal Risk i.e. the risk that
comes from within the company itself
Example: damage to assets due to the
behavior of its own employees, work accident,
error management, etc.
error management, etc.
b. external Risk i.e. the risk that
comes from outside the company
Example: theft, fraud, competition,
price fluctuations, changes in government policy,
etc.
The TERM "important risk management
etc.
The TERM "important risk management
a.
the Peril is the event or events that give rise to a loss. For example fire, theft, accident.
b.
Hazard is the circumstances and conditions that magnifies the possibility of
peril. Example: slippery roads, sharp turns. There are several kinds of type of
hazard:
a)
Physical Hazard is the circumstances and conditions that enlarge possibilities
occur peril, sourced from the physical characteristics and the object, neither
of which could be supervised/known or not. For example,
the road slick, sharp turns that magnify
the likelihood of the occurrence of an accident, try to overcome with the
installation of traffic signs on the premises.
b)
Moral Hazard is the State or conditions
someone enlarges the possibility of the
occurrence of the peril, which is predicated on the mental attitude, Outlook on
life, habits of the person concerned. Example of a forgetful will enlarge the possibility of accident/loss that
befalls that person.
c)
Moral Hazard is the State and condition
of the possibility of enlarging one's peril, which is predicated on the
concerned person's heart feeling, which is generally due to the influence of a
particular State. Example:
People
who have been insuring himself, his car and have been feeling proficient
driver, then feel secure against the risk, he was careless in driving his car.
Circumstances and this condition will certainly enlarge the possibility of
accidents which will overwrite it.
d)
Legal Hazard is the Act of ignoring regulations or legislation in force
(breaking the law), so as to enlarge the possibility of peril. For example, the wisdom company that
violates/doesn't meet the law on Work Safety
will enlarge the possibility of accidents.
c.
Exposure is the State or object containing the possibility of peril, so it is
affected by circumstances that become the object and attempts to cope with
risks, especially in the area of coverage.
d.
the law of large numbers (The Law of The Large Number) is the law relating to
the magnitude of forecasting the possibility of peril. Where "the greater
the amount of exposure that is predicted will be more careful forecasting
results obtained".
e.
risk management is the exercise of management functions in the response ratio, especially the risks faced by the
organization/company, the family and the community. So it includes the
activities of planning, organizing, drafting, lead/coordinate and supervise
(including evaluating) risk mitigation program.
4. RISK MANAGEMENT PROCESS
5.
risk identification methods:
Identifying
risks there are several methods that can be used, among other things:
a.
use the list of questions or questionnaires to analyze risk, which from the
answers to the questions are expected to be able to provide clues about the
dynamics of specific information, which can be designed systematically wealth
is concerned about the risks as well as the operation of the company.
b.
Using financial statements, i.e., by analyzing the balance sheet, operating
reports and other supporting records, will be known/identified all the wealth,
debt-receivable, etc.
c.
creating a flow-chart flow of goods
ranging from raw materials to finished goods to become so knowable risks faced
at each stage of the flow.
d.
With the examination/inspection directly on the spot, that is by holding an
examination directly at the place of the operation/activity of the company.
e.
Hold interactions with departments/sections within the company. As for the ways
in which it can be reached:
•
Made a visit to the Department/Risk Manager parts can grab/fosters mutual
understanding between the two sides.
•
Receive, evaluate, monitor and respond to reports of departments/sections.
f.
Hold interactions with outside parties i.e. held relations with individuals or
other companies, especially those that can assist companies in managing
disaster risks.
g.
Conducting an analysis of the contracts
have been made with other parties.
h.
creating and analyzing the records/statistics about all kinds of losses that
has ever suffered.
i.
held an environmental analysis, which is very necessary to know the conditions
that affect the incidence of potential risks, such as consumers, suppliers,
suppliers, competitors, Government desa muan
(makers of regulation/legislation).
6 .
Bank Indonesia issued Regulation No. 5/8/PBI/2003 regarding the application of
risk management for commercial banks in Indonesia. Business risks faced by
financial intermediation
1 .
Credit risk credit risk, generally defined as the possibility of losses
incurred due to the failure of the debtor or counter-party for the benevolence
of the Bank. Credit risk arising from the
implementation of the financial intermediation function and is part of the
everyday activities of the Bank.
2 .
The market risk market risk is the risk,
which arises due to the movement of market variables of portfolios owned by the
Bank, that can harm the Bank. Variables include interest rate and market
exchange rates, including the derivation of these two types of market risk.
Market risk, among others, present on the activity of Treasury and investments,
financing and funding activities, as well as trade finance activities.
3 .
Operational risk is the risk arising among others due to insufficiency or not
proper functioning of the internal process, human error, system failure, or
external problems that affect the operations of the Bank. Operational risk can
have an impact on financial losses directly or indirectly in the form of
potential losses or loss of profit opportunity.
4 .
Liquidity risk is the uncertainty or the possibility of the company can not
meet the payment of short-term or unexpected expenses.
5 .
Legal risk is the possibility of deviation results because the company didn't
comply with regulations and norms in force. In the neighborhood known as
banking risk compliance.
6 .
Reputational risk relates to the potential destruction of the good name of the
company because of the company's
inability to manage the performance and communications with external parties.
7 .
the fiduciary risks will arise in financial intermediation in its efforts to
provide services by acting as a trustee, either individual business entities.
8 .
the risk of competition, competition between financial intermediation focused
more on its ability to provide services to clients in both the professional and
because the products offered by financial intermediation nearly entirely are
homogeneous.
7 .
risk measurement methods:
•
Measurement of the frequency of Losses
Measurement
of the frequency of potential losses is untukmengetahui
how many times a kind of peril can override a type of object that can be
exposed to the peril for a certain period of time, which is generally one year.
•
Measurement of Kegawatan Loss
The
measurement of potential loss of kegawatan is to know the dimensions of some
magnitude value of the loss, which was attributed to its effect on the
company's condition, especially the financial conditions.
8 .
The approach to tackling the risks:
a .
Risk Retention is the company took its own risk appears (hold the risk). If the
risk actually occurs, the company should
provide funds for therisk.
Tools/methods/ways that can be used to this approach, namely:
Tools/methods/ways that can be used to this approach, namely:
- Reserve
Fund, the company set aside specific funds periodically dedicated to financing the losses resulting from such risks.
-Self-insurance and captive insurers
Self-insurance, management of the reserve fund could be upgraded again into a kind of insurance for the company's own internal. Self-insurance could do if (1) the exposure in the company of its economic scale is large enough that it could be achieved, (2) the risk can be predicted well.
Self-insurance, management of the reserve fund could be upgraded again into a kind of insurance for the company's own internal. Self-insurance could do if (1) the exposure in the company of its economic scale is large enough that it could be achieved, (2) the risk can be predicted well.
Captive
insurers, fund management backup made with the insurance subsidiary as part of
the company. There are several reasons captive
insurers being interesting, namely (1) in some countries, tax treatment
such that it is profitable to make captive insurers (tax paid could be
smaller), (2) a contract of insurance be more flexible because practical to
deal with the internal party.
b.
the Risk Transfer is the company moving the risk to another party (transferring
the risk to another party) that usually have a greater ability to control the
risk, either because of better economies of scale so that it can be mendiversifikasikan better or risk having the
skills to do better risk management.
Tools/methods/ways that can be used to this
approach, namely:
- Insurance,
contract promise between the insured
(insured) and the insurance company (insurer), where the insurer is willing to
provide compensation for the losses experienced by the insured party and the assurance party (the insurer) gets premium
insurance in return.
- Hedging
or hedging, the company transferring the risk to another party who is better
able to manage risk better through transactions of financial instruments.
-Incorporated
or form a limited liability company is an alternative risk transfer because the liability of shareholders
in a limited liability company limited capital deposited where the liability
will not come to the personal wealth.
4. RISK MANAGEMENT PROCESS
STEP-STEP
RISK MANAGEMENT PROCESS:
1.
Identify in advance the objectives/goals to be achieved through risk
management. For example, a steady income, peace of heart, and so on.
2.
Identify the possibilities of occurrence of loss/peril or identify risks faced.
3.
Evaluate and measure the magnitude of the potential losses, which are evaluated
and measured are:
a.
magnitude of the chance or possibility of peril that will occur during a
certain period (frequency).
b.
the magnitude of the result of such damages against the company's financial
condition/family (kegawatannya)
c.
the ability to predict the magnitude of
losses will obviously arise.
4.
Find a way or a combination of the ways that the best, most appropriate, and
most economical to resolve problems that arise due to the occurrence of a
peril. These efforts include: • to Avoid the possibility of peril
•
Reduces the chance of occurrence of a peril
•
Move the potential loss to the other party (insuring)
•
Accept and shoulder the losses incurred (meretensi)
5.
Coordinate and implement the decisions that have been taken to cope with the
risk. For example, make a decent
protection against work accidents, contact, select and complete the transfer of
risk to the insurance company.
6.
Administers, monitors, and evaluates all measures or strategies have taken in tackling the risks. This is very
important especially for basic risk management wisdom in the future.
UTS
APRIL 7, 2009
1.
a). The difference in risk with uncertainty:
More
risk to something that has always been associated with the possibility of
something that does not harm allegedly/unwanted. Where this risk, has
characteristics:
-is
the uncertainty over the occurrence of an event
-It
is a case of uncertainty will cause any harm
While
the uncertainty is something that raises the risk (risk arising due to
uncertainty), meaning uncertainty is a condition that causes the incidence of risk because of
the result in doubt someone regarding his ability to extrapolate
results-results that will occur in the future.
Conditions
uncertain due to among other things:
•
The time lag between the planning is an
activity that ends where the more produce long/lag time greater ketidakpastiannya.
•
The limitations of the available information are
required in the preparation of the plan.
•
Limitations of knowledge/ability/technical decision-making of the Planner
b).
Risk Classification consists of:
-the
risk of unintentional (pure risk), deliberate, risk (the risk of speculative),
risk, fundamental, special risk, risk, dynamic
From
the above risk classification, the risks can be insured as follows: o the pure
risk, because this risk occurs without deliberate e.g., the risk of fire, natural disaster, theft,
embezzlement, intrusions, and so on.
o
special risks, where the risk of these sourced events are independent and
generally easy known causes, such as ship aground, the aircraft dropped, the collision of a car, and so on.
While
the risks can be insured: o risk speculative, because the risk is intentionally
inflicted by a concerned, so that the occurrence of uncertainty gave him the
advantage, for example the risk of debt-receivable, oerjudian, trade futures, and so on
o
the fundamental risk because this risk can not
be delegated to someone and who suffer
from not just one or a few people, but many people, such floods, hurricanes,
and so on.
o
dynamic risk, due to the risks posed by the development and advancement of
society (Dynamics) Economics, science and technology, such as the risk of wear
and tear, the risk of space flight.
2.
The difference between physical and moral
hazard: hazard
Physical
hazard more to the circumstances and conditions that magnifies the likelihood
of the occurrence of the peril, which is sourced from the physical
characteristics of objects, both of which can be monitored/known or not. While
the moral hazard of the mental attitude, Outlook on life, habits of the person
concerned. So is a personal character
someone enlarges the possibility of
peril.
3.
the Principal Functions of risk management:
Risk
management functions at the point include:
1
Includes potential Losses).
This
means that attempting to find/identify all pure risk faced by companies, which
include:
a.
physical damage to the property of the company.
b.
loss of income or loss other akin
disruption of the operations of the company.
c.
Losses due to lawsuits from other parties.
d.
Losses – losses incurred because of the fraud, other criminal actions, not jujurnya employees and so on.
e.
Losses – losses incurred due to key employees (keymen) died, sick or became
disabled
2
Evaluating potential
losses).
It
means doing the evaluation and assessment of all potential losses faced by the
company. Evaluation and assessment will include an estimate of about:
a.
magnitude of the likely frequency of occurrence of loss means that estimates
probability of losses during a given period (usually 1 year).
b.
the magnitude of kegawatan of each loss,
it means assessing the magnitude of the losses suffered, which is usually
associated with the magnitude of the influence of such losses, especially
against the financial condition of the company.
3.
choose engineering)/the right way or specify a combination of the right
techniques in order to cope with the loss
At
the point there are 4 ways that can be used to cope with risks, i.e. reduces
the chance of occurrence of loss, meretensi,
insuring, and avoid. Where the task of risk managers is to choose one of a most
appropriate way to tackle a risk or choose a combination of the ways most
appropriate for tackling the risks.
The
Frequency Of The Activities Of The Departments Of The Loss Mitigation
1
low low retention/Control
2
high low retention/Insurance/Control
3
low high Insurance/Control
4
High Total Avoid
4.
KERUGIAN POTENTIAL
The
list of potential losses is also often referred to as checklist. From that list
will be known what and how a loss occurs that might befall his business, so it
can be used as a basis for determining
the risk control policies.
Classification
Of Loss Potential:
The
entire potential losses can override any business on anyway may be classified
into:
a.
losses on the property (the property 30
minutes) which includes:
1.
direct losses can be attributed to the cost of the replacement or repair of the
affected property against the peril (burning shed, the equipment that was
stolen). This type of loss is called direct losses.
2.
The losses that cannot be directly linked to the peril that occurs, that losses
caused by the destruction of the goods affected by the peril. This type of loss
is called indirect losses.
3.
Losses on revenue, for example as a result of not the functioning of the means
of production, because exposed to peril.
b.
damages liability to another party--Was a loss in the form of an obligation to
the other party who feels aggrieved as a result of the fault of his business.
c.
Loss of personnel (personnel losses/30)--loss due to the peril that befell the personnel or people who are members of the company's employees
(including his family).
Liability
for the loss of personnel:
Responsibility
against loss of personnel can be divided into two categories, namely:
a.
the personnel Losses directly related to the activity of the company
Corporate
responsibility towards the personnel losses directly related to the activity of
the company, in fact, is the responsibility of the employer against employees
who carry out work that he will be loaded.
b.
Loss of personnel that are not directly related to the activity of the company
Employees
also face the risk of potential losses from the declining ability to earn income and increased
spending-unexpected expenses as a result of the employee's death, declining
health, idle, or because old age. These
issues are usually resolved by holding savings for old age.
Responsibility
for losses of wealth:
The
subject matter includes:
a.
ownership: ownership of the property is sole ownership, then the pemiliknyalah will suffer a loss due to such
peril.
b.
loans with a guarantee: If the pledged property damaged because it is exposed
to the peril, then such losses be not terbayarnya
some pitanga, although the lender not the
owner of the property.
c.
Sale of society: that depends on the terms specified in the contract of sale
and stated purpose.
d.
Tenancy: generally tenants no liable for any loss of property leased affected
peril, with the exception of damage to
property caused by the carelessness of the tenant, the contract specified that
the property must be returned with good
condition upon tenant change deliberately
property to get a particular benefit.
e.
Bailments: responsibility against loss caused by a peril depending on the
content of the Treaty of bailmentnya.
f.
Easement: If there are losses on the utilization of property, be the
responsibility of the person utilizing the (wearer).
g.
license: the loss is the responsibility
of the owner or according to an agreement.
Responsibility for any other party:
A legitimate liability generally can
be divided into two types, namely:
a. civil liability/civil liability:
legal responsibility for its realization is usually done by one party (the
plaintiff) against pohak (defendants) who
were convicted. The decision is the ruling form of indemnity to the aggrieved
party. The Court decided the matter raised by the party litigants and for the
costs of their own.
b. General liability/criminal: where
the introduction of this responsibility to the question posed by implementing
public officer on behalf of the community/public/State against individuals and
business ventures, which allegedly should be responsible for losses that case.
The ruling decision fines or imprisonment to be paid/traveled by the suspect.
THE BENEFITS LIST OF POTENTIAL
LOSSES
1. For the company: (a) attainment
of mnunjang yg after destinations, bkaitn dg pnglolaan
basis PD
umumny n khususny,
risk management, (b) systematic way u/collect info tag Perusahaan "other brain dg aktvtas
bisnisny.
2. For risk managers: (a) a reminder
of ttg Krugman
"interchangeable overwrite bisnsny,,
(b) gather information will reply tmpt mnggambarkan, dg, bagmana n what ways business" khushs
interchangeable utilized for tackling potential risks faced by the business,
wrote, (c) materials comparison in examining the risk mitigation program
evaluates dn yg tlh made.
5. RISK MITIGATION
Efforts to tackle risks should
always be performed, so that losses can
be avoided or diminimumkan. In accordance
with the nature and the object are
exposed to risk, there are several ways that can be done for minimising the risk of losses, among others:
a. Conducting prevention and
reduction to the possibility of the
occurrence of events that result in losses. Example: guarding the machines to
avoid accidents.
b. Do retention, meaning that tolerate
i.e. let the occurrence of the loss and to prevent disruption of the operation
of the company due to the losses provided some funds to overcome. Example: post
other expenses in the budget of the company.
c. perform the control of risks.
Example: conduct futures trading to
cope with the risks of scarcity and price fluctuations of raw materials/helper
needed.
d. Redirect/move the risk to another
party, i.e. by way of contracting (insurance) coverage with an insurance
company against certain risks, by paying a certain amount of insurance premiums
that have been set, so that companies the insurance will indemnify when exactly
incurred losses which in accordance with the agreement.
How
to control the possibility of potential losses is to find a way or a
combination of the ways that the best, most appropriate, and most economical to
resolve problems that arise due to the occurrence of a peril. These efforts
include: • to Avoid the possibility of peril
•
Reduces the chance of occurrence of a peril
•
Move the potential loss to the other party (insuring)
•
Accept and shoulder the losses incurred (meretensi)
Dr.
William Haddon, suggests 10 strategies controlling losses, namely:
1)
Prevent the inception of hazard at the first opportunity.
2)
reduced the number and magnitude of the hazard. Contohnhya: reduce the speed of
the car to avoid an accident.
3)
prevents the discharge of hazard if the hazard is formed or if the hazard has
been there before. Example: menstrerilkan
milk before drinking to prevent infections through milk.
4)
change the speed or power of the discharge of the hazard from the source.
Example: Split stream into several streams to reduce the flow of the river
battle, in order to prevent the occurrence of annihilation riverbanks.
5)
separating the object from the source that can destroy it. Example: Make the
embankment of the River to avoid flooding.
6)
separates the hazard of the object that should be protected with a bulkhead separator. Example: the employee
must wear rubber gloves to prevent contracting the disease germ.
7)
a relevant basis of quality Change of hazard.
Example: given a path separator line between the opposite direction to
reduce the danger of a collision.
8)
makes the object more resistant to hazard that would ruin it. Example:
immunization for strengthening the body's resistance against disease.
9)
counter action to restrain the increasing
severity of the damage. Example: installing a retaining embankment surge to
prevent damage to the beach from abrasion.
10)
Stabilize, rehabilitate and refit the objects affected by the peril. Example:
fixing the affected machine peril to prevent damage/note products.
UTS
Oct 22, 2007
4.
The difference in risk management and insurance
-Risk
management is the exercise of management functions in the response ratio, especially the risks faced by the
organization/company, the family and the community. So it includes the
activities of planning, organizing, drafting, lead/coordinate and supervise
(including evaluating) risk mitigation program.
-Insurance
is coverage transaction involves two
parties, the insured and the insurer. The insurer guarantees the insured party,
that he would get a replacement of a loss that may be sustained, as a result of
an event that is not necessarily going to happen again or that previously could
not be specified when/when the occurrence. As his achievements the insured is
required to pay a sum of money to the insurer, the magnitude of the percent of
the value of the coverage, commonly referred to as the premium.
6. Note that from 100 fruit home, possibly
burning one House is 37%. The average loss for each fire is USD 1 million.-What
is the:
a.
the Expected loss of one's home? Answer: Usd 370,000,-(37% x Rp 1jt)
So
in case of peril, then the insurance compensation of Rp sebsar membayar harus 1jt. Because the insurers did not feel
certain that personal Tersebut terjadi
speak menetapkan
insurance, then the probability of correct trade
sending loss dr Serta menilainya level on expected loss sir Usd 370,000,-
b.
When the possibility of burning two homes by 20% how expected lossy?
Expected
loss = Rp 400,000 (20% x 2 x Rp 1jt) so that the expected loss for Rp 200,000
sbsr House 1,-.
Risk
Management Insurance
1.
Emphasizes its work in finding and analyzing the risks of pure
2.
The task is just a mere pass judgment
against all risk mitigation techniques
3.
Pelaksaaan the program requires the cooperation of a number of individuals and
parts of the company
4.
risk management Decisions have a broader influence/contribution to company
operations 1. Is one way of
tackling the risk of a certain pure
2.
The task of handling the whole process of transfer of risk
3.
Involve the number of people and activities that are smaller
4.
Decisions in the field of insurance have
a more limited influence
The
definition of risk management according to the experts is:
a)
according to Smith, 1990 risk management is defined as the process of
identification, measurement, and control of the finances of a risk that
threatens the assets and earnings of a company or project that may cause damage
or loss on the company.
b)
according to Clough and Sears, 1994, risk management is defined as a
comprehensive approach to deal with all of the events that give rise to a loss.
c)
according to William, et. al., p. 27,1995 risk management is also an
application of the General management of trying to identify, measure, and deals
with the cause and effect of uncertainty on an organization.
d)
Dorfman, 1998, p. 9 risk management is a logical process in order to understand
exposure to a disadvantage.
e)
version of MR. Lecturer, management risk
is a process for keeping assets "belonging to and ability to produce financial consequences from dg to minimize
the possibility of loss.
The Kind Of "Risk Management
a. operational risk management
operational risk management related to technical failures and human error.
b. financial risk management:
financial risk management deal with non-payment from clients and an increase in
the interest rate.
c. risk management market: dealing
with the various types of market risks, such as interest rate risk, the risk of
equity, commodity and currency risk.
d. Management of credit risk: with
regard to the risks that are associated with the probability of default of a
debtor.
e. quantitative risk management: in
quantitative risk management, the effort
is made to ensure the possibility of adverse circumstances of numerical finance
different to handle the level of losses that might occur from the situation.
f. Komiditi
risk management: handling the various types of risk komoditas, risk, price risk such as politics, the quantity and cost
of risk.
g. Non-profit risk management: this
is the process by which enterprise risk management menerapkan risk management services at the non-profit looking for
basic
h. Management of currency risk: with
regard to the change of currency rates.
i. enterprise risk management:
addressing the risks faced by the company in achieving their goals.
j. project: risk management related
to certain risks associated with running a project.
k.: integrated risk management
integrated risk management refers to the integration of risk data into the
company's strategic decision making and take decisions, which take into account
the degree of risk tolerance set of departments. In other words, it is the
surveillance of the market, credit, and liquidity risk at the same time or
simultaneously.
b. Risk management Teknologi: this is the process of managing the risks associated
with implementing new technology.
m. risk management Software: deals with
the various types of risk associated with the implementation of the new
software.
The Importance Of Risk Management
Study
How important it is for people who
study risk management can be seen in terms of the other two, namely:
1. A person as a member of the
organization/company, especially a Manager will be able to find out the
ways/methods appropriate to avoid or reduce the magnitude of the losses
suffered, the company as a result of the uncertainty of the occurrence of adverse events (peril).
2. Someone as a person:
a) can become a professional risk
manager within a relatively faster than never learn it.
b) can provide a useful contribution
to the risk manager of the company where the question became a member.
c) Can get hold of a risk management
consultant, insurance agent, intermediary traders, investment advisory,
consulting company that has no risk manager and so on.
d) Can become the Manager of a
professional risk insurance companies, so that it will further enhance the welfare
of society through insurance programs compiled with precision.
e) can be more cautious in arranging
his personal life every day.
The Purpose Of Risk Management
1) The
goal before the occurrence of the peril
• Things that are economical, for example, efforts to cope with the possibility
of losses in the most economical.
• Things are noneconomic, for example, efforts to reduce anxiety
• Risk mitigation Actions are undertaken to fulfill
the obligations derived from the third party/parties outside the company.
2) Destination after the peril
• Rescue operations
• Searching efforts so that the
company's operations continued after the company exposed to the peril
• Undertakings so that corporate
earnings keep flowing, though not entirely, at least enough to cover costs from
• Dress remains the continued growth
of business for companies that are doing business development
• Attempt to still be able to do the
social responsibility of companies
0 comments:
Post a Comment