Insurance Planning Study

Objectives

• To carry out a systematic, critical appraisal of all potential risks involving personnel, plant, services & operations (risk identification, assessment and control)

• To review the insurance coverage and to identify areas of coverage to optimize the risk exposure

The scope of the study will include the following:

• Identification of all major internal and external pure risks including the natural risks and analysis of the impact of above risks

• Scrutiny of all existing major insurance policies in respect of:

• Rationalization of basic rate of premium and widening of covers

• Applicability / eligibility of discounts in premium

• Application of suitable clauses, warranties and conditions

• Identification of possible areas for refund of premium and suggestions regarding procedure for the same

• Selection of insurance coverage on the basis of risk analysis

• Providing guidelines for fixation of sum insured and illustrate the same on a selected equipment

• Evaluation of business interruption exposure due to identified risks

• Providing guidelines on documentation requirements, procedures for claims under various policies

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