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INSURANCE & RISK MANAGEMENT


Every organization is exposed to various risks. While many of them are pure risks like fire, explosion, chemical release etc., some of them are speculative. Pure risks are handled as operational and safety issues by professionals and finance personnel have to address the risks arising out of failure of above operational and safety measures.

INSURANCE & RISK MANAGEMENT

Every organization is exposed to various risks. While many of them are pure risks like fire, explosion, chemical release etc., some of them are speculative. Pure risks are handled as operational and safety issues by professionals and finance personnel have to address the risks arising out of failure of above operational and safety measures. Together they need to ensure that the organization is able to withstand any risks or failure of systems and can continue its operations without much struggle. The Risk Management and Insurance Planning is required for any organization to review their risk management strategies and to opt for risk transfer measures like availing insurance cover etc. Many a times the coordination between the technical or operational departments and finance department is difficult and an unbiased study on technical risk management measures adopted and insurance practices followed will help the management of the organization to manage the risk effectively and profitably.



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