Risk Management through Insurance Route

A Challenge for the Internal Auditor

A workshop on Risk Management and Cost Reduction for the Internal Auditor.

Venue : Hotel Orchid, Mumbai.

About the Workshop

Various Sectors of Industry face stiff areas in all areas of operations. The Government policy of liberalisation and consumer awareness has increased business risk substantially. This has led to greater demand for maximum efficiency and cost effectiveness. As risk factors increase, insurance companies all over the world came out with corresponding risk cover policies. In India, in 1970's less than 20 different classes of insurance covers are available in the market. However, awareness of serious problem comes only when a large claim arises and it is found that the insurance policy taken either does not cover it or covers it only partially.

In actually working the floor managers identify the risks inherent in their activity and evaluate the possibility of loss. The Financial Controller ultimately decides whether the insurance proposed is budgetable. It is possible that such floor managers may not have proper appreciation of various risks involved - lack of knowledge or any other factor.

How do Workshop participants benefit ?

  • Employ Techniques to assess and evaluate risks involved vis a vis insurance covers.
  • Develop skills to examine policy documents to meet organisation requirements.
  •  Educate and use techniques to minimise losses in claim settlements.
  • Evaluate and monitor systems and controls in the company on claims preferment and processing

Testimonials

"The seminar was knowledge bound and well organised. The presentation style was interactive and course material was relevant".
- B. Das - Tata Steel

"The topics covered were explained by giving practical examples - case study. Course materials covers all topics in detail. The course material was detailed".
- I. P. Mehta - BSES Ltd.

"The seminar was excellent and conducted on relevant subjects. Experienced and knowledgeable faculty. The presentation style was interactive and course material was relevant".
- Prashant Shah - Godrej Pacific Technologies Ltd.

"The seminar was well organised. Well known faculty members having good knowledge. The presentation style was interactive".
- Arun G. K. - Goodlass Nerolac Paints Ltd.

"The seminar was excellent. Excellent Faculty, Excellent knowledge of speakers on Topics, Excellent arrangement by SAMA. Course Material was relevant".
- Ashish R. Gupta - Godrej Soaps Ltd.