Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag...

28
Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio General Insurance

TAGS:

Transcript of Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag...

Page 1: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Risk Assessment – It’s necessity7th August, 2014

Parag GuptaExecutive Vice PresidentHead – Commercial LineIFFCO Tokio General Insurance

Page 2: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Risk Management

The Identification , Evaluation and Economic control of those risks which can threaten the assets,

human being or earning capacity of an enterprise.

Page 3: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Risk Assessment !!!Identification and

Evaluation of Risks around us…

Page 4: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Risk Assessment

If Identified and Evaluated at the earliest can prevent or diminish quantum of a future damage /

loss.

We are surrounded with potentially damaging physical event, phenomenon or human activity

that may cause the loss of life or injury, property damage, social and economic disruption or

environmental degradation.

Page 5: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Fire & Explosion!!!!

Recent one??? Any

guesses

China Automobile part manufacturing unit

explosion/ fire

Page 6: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Fire

Page 7: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Milford HavenAugust 1983Loss: $30 Mn

Boil-over

Page 8: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

UVCESarawakDecember 1997PD　 282 M$ US

Vapour cloud explosion

Page 9: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

UVCE

Norco, LouisianaMay. 1988FCC UnitPD 314 M$ US

Vapour cloud explosion

Page 10: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

BLEVEFeyzin, FranceJan. 1966LPG Sphere TanksOperation

Explosion (BLEVE)

Page 11: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

BLEVEMexico CityNov. 1984LPG Tanks500-600 died

Explosion (BLEVE)

Page 12: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

force of detonation was equivalent to 40 tones of TNT. Loss amount is roughly Euro 1.8 bn. 30 people were killed and 500 injured.

Explosion

Page 13: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Fire

Office building fire

Page 14: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Fire

French bank buildingMay, 1996

Page 15: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Oil Rig sank in Brazil

15th March, 2001

Property loss - $496m

Marine

Page 16: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

The tanker broke into two because of heavy seas and sank at a dept of 3600m about 137 sea miles from Spanish coast. loss was about US$36m.

Marine

Page 17: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Collision occurred between a car transporter Tricolor and a container ship kariba. The tricolor sank soon containing 2862 BMWs, Saabs and Volvos and 77 containers. Overall loss amount was euro 55 million.

Marine

Page 18: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Risk Assessment

Sources of Fire

5% 7%6%

17%

29%

11%

5%12%

8%

Smoking Material

Gas

Oil

Unspecified fuels

ElectricalAppliances &InstallationsSpontaneousCombustion

Mechanical Heat &Spark

Cutting andWelding

Misc. Causes

There is a lot we can do to control these

sources…

Page 19: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Oh. It’s a Snake

Let me

Kill it

Oh. It was

tail of a tiger

Page 20: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Risk Assessment

• Following are the basic elements we may consider for Risk Assessment:– Management– Construction– Occupancy– Protection– Exposure

MCOPE

Page 21: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Risk Assessment

•Management policies to ensure safety and loss prevention..

MANAGEMENT

•Issues in layout for factory facilities, Construction Aspect, fire-resistance of buildings, fire separations etc.

CONSTRUCTION

•Issues in fire load reduction (house keeping, stock control etc.), control of ignition sources, maintenance / Inspection of equipment, process hazards etc

OCCUPANCY

•Issues in fire protection and special protection e.g. Pressure safety valves, Equipment protection, fire alarms, interlocking system etc

PROTECTION

Page 22: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Toyota Motors• Associate supplier – Aisin’s auto parts plant

was razed to ground on 01.02.1997, Saturday• Used to supply all but 1% of brake-fluid

proportioning valves (P-valves)• 20 Toyota plants were shut down• Each day Toyota is down, Japan’s industrial

output is cut by 0.1% point• Within five days plants were started

Good Risk Management

Page 23: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

How had Toyota managed to do that?• Mutual aid• Specific responsibilities• Top level commitment• Crises management plan

Good Risk Management

Page 24: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Bhopal disaster• Leak of Methyl Isocyanate (MIC) from Union

Carbide Bhopal plant• Storage in 3 steel tanks, 171 M3• Three safeguards

- refrigeration

- scrubber

- flare stack

Bad Risk Management

Page 25: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

• Genesis of the disaster lies not in the failure of the safeguards but in the original design concept.

• Question is, was such a large inventory essential?

• Process of making Sevin (pesticide) without using MIC or

• Adopting a process which used up MIC as fast as it was made.

Bad Risk Management

Page 26: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

“The real objective of Risk Management is to reduce fear of the unknown and

unexpected events and to create confidence in

future.”

- Felix Kloman

Page 27: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

We Know not what tomorrow holds

Nor what the future will entail

Yet we know, those who fail to prepare

Must be prepared to fail !!

Page 28: Risk Assessment – It’s necessity Risk Assessment – It’s necessity 7 th August, 2014 Parag Gupta Executive Vice President Head – Commercial Line IFFCO Tokio.

Thanks For Your Kind

Attention !!!


Iffco Wc Mgmt

Iffco Wc Mgmt

Iffco Tokio Ok

Iffco Tokio Ok

PA at Iffco

PA at Iffco

SUMMARY Project description 60213 - Canada.ca · The project proponent is IFFCO Canada Enterprise Limited, (hereinafter named “IFFCO Canada”). IFFCO Canada was registered in Montreal

SUMMARY Project description 60213 - Canada.ca · The project proponent is IFFCO Canada Enterprise Limited, (hereinafter named “IFFCO Canada”). IFFCO Canada was registered in Montreal

Project of iffco

Project of iffco

IFFCO Project

IFFCO Project

Iffco Pakistan

Iffco Pakistan

IFFCO REHAN

IFFCO REHAN

IFFCO Ankit

IFFCO Ankit

Inventory Control in IFFCO

Inventory Control in IFFCO

IFFCO Corporate Brochure

IFFCO Corporate Brochure

IFFCO, Rakesh Kapur

IFFCO, Rakesh Kapur

employee welfare at iffco

employee welfare at iffco

Iffco report

Iffco report

iffco WCM (1)

iffco WCM (1)

Inventory Management Iffco

Inventory Management Iffco

project report on iffco

project report on iffco

4.Iffco Project

4.Iffco Project

Co Ops IFFCO

Co Ops IFFCO

Risk Assessment – It’s necessity 7 th August, 2014

Risk Assessment – It’s necessity 7 th August, 2014