Insurance Values and Myths for the Risk and Continuity Manager

Introduction


There are values in insurances that are, in troubled circumstances; a real help towards organisations and jobs surviving and responsibilities honoured.

The most crucial dependencies of a modern-day business are however not easily insurable.  These dependencies include the clients and their ongoing trust, stakeholder support, supply chain continuity, business and financial controls and models, legality, brand values, its position in its market place, contracts, its crucial employees, and above all a whole range of owned and hired intellectual assets. 

Very rarely, if ever, are these amorphic, high impact, low frequency, and non-monetary exposures insurable.  Indeed, a standard policy wording can actually exclude the real importance of the dependency insured.

The course takes a practical and experienced look at the values and minefields of insurance programmes through the eyes of the risk manager and those responsible for organisational resilience.

Workshop Objectives


  • To discuss the operational exposures of the modern organisation and explore to what extent, if at all, insurance products protect against the impacts that cause the most significant concern.
  • To explore individual types of liability and damage insurances normally available
  • To measure the values of these insurances against real life disaster consequences
  • To become aware of wider insurance myths and minefields
  • To become aware of conflicting measures of both value and loss.
  • To understand both help and hindrances when an organisation is facing meltdown

Outline of Workshop Programme


  • modern day business models and potentially catastrophic dependencies
  • the special needs of potentially catastrophic risks
  • the insurance product; its development and objectives
  • insurance wide minefields and causes of failure to deliver as expected
  • casualty/damage insurances values and weaknesses
  • business interruption insurances values and weaknesses
  • liability insurances values and weaknesses
  • stress testing and needs matching of insurance products
  • supports needed by a company facing meltdown
  • insuring supply chain dependencies and urgencies