Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of...
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Transcript of Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of...
![Page 1: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/1.jpg)
Risk Assessment and Claims
![Page 2: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/2.jpg)
Risk Assessment
- Selection of appropriate Insurance Policy
- Selection of additional Covers
- Type of Indemnity
- Declaration of proper Values
- Deciding adequate Indemnity Period under Business Interruption
- Analysis of Warranties/Conditions
![Page 3: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/3.jpg)
Risk Management- Underwriting Factors
House Keeping
Construction
Protection
Arson / Malicious Damage
Exposure
![Page 4: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/4.jpg)
House Keeping
![Page 5: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/5.jpg)
House Keeping
![Page 6: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/6.jpg)
Construction
Buildings
Fire Resistive (Mainly RCC with certain mix and has ability to sustain fire for at least 2 hours)
Non- Combustible ( Steel structures and Br. Masonry)
Combustible (Wood, thatched sheds, tarpaulins etc) & Use of combustible false ceiling
Special features
Passive fire protections
Physical Separation
![Page 7: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/7.jpg)
Construction cntd..RCC/ Asbestos/ Open sided
![Page 8: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/8.jpg)
Construction cntd..False Roofing/ Combustible
![Page 9: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/9.jpg)
Protection
Availability, adequacy & reliability of any Fire extinguishers, Hydrant system or other systems and also Water supply.
Availability of Security personnel as well as their knowledge and expertise to fight a fire.
Availability of automatic detection systems
If ware house – availability of the key/ power control/location of extinguishers at the entrance.
Fire Extinguishing media in tune to the material being stored in the ware house
![Page 10: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/10.jpg)
Protection
PROXIMITY TO PUBLIC FIRE BRIGADEWhether a fire brigade can reach within 20 minutes
![Page 11: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/11.jpg)
Protection
![Page 12: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/12.jpg)
Protection
• FIRE DETECTION and ALARM SYSTEM
![Page 13: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/13.jpg)
Arson & Malicious Damage
Surveillance to protect the assets from insiders and outsiders.
CCTV
Intrusion Alarm
Access control
![Page 14: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/14.jpg)
Protection
Adequate additional measures like CCTV, access control, being in place
![Page 15: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/15.jpg)
Exposure
Distance/ proximity to the nearest building
Exposure from the existing units/ buildings depending upon their occupancies and inherent hazards.
The gradient of the exposing building to that of exposed building.
![Page 16: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/16.jpg)
Exposure
Production block
Storage
Fuel tank
Generator and substation
Utilities
Office
![Page 17: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/17.jpg)
Exposure
.
![Page 18: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/18.jpg)
Positive aspects of the Unit
![Page 19: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/19.jpg)
Intension to Change – then
![Page 20: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/20.jpg)
now - 6 months after Inspection
![Page 21: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/21.jpg)
Suggestions on Claims
Claim Intimation/Settlement
- Delay in intimation
- Delay in submission of Documents
- Coverage not found appropriate
- Inadequate Values
- Slavage Disposal
- Deductibles
![Page 22: Risk Assessment and Claims. Risk Assessment -Selection of appropriate Insurance Policy -Selection of additional Covers -Type of Indemnity -Declaration.](https://reader035.fdocuments.in/reader035/viewer/2022062517/56649f0d5503460f94c213a2/html5/thumbnails/22.jpg)
Thanks