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Titulo de la Presentación The 5 th International Istanbul Insurance Conference LOSS PREVENTION AND RISK IMPROVEMENT HAKAN ILERI ISTANBUL, 3 rd October.

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Presentation on theme: "Titulo de la Presentación The 5 th International Istanbul Insurance Conference LOSS PREVENTION AND RISK IMPROVEMENT HAKAN ILERI ISTANBUL, 3 rd October."— Presentation transcript:

1 Titulo de la Presentación The 5 th International Istanbul Insurance Conference LOSS PREVENTION AND RISK IMPROVEMENT HAKAN ILERI ISTANBUL, 3 rd October 2013

2 Titulo de la Presentación CONTENTS Improving the Risk Standards Loss Prevention Measures Current Situation Expectations of the Reinsurers Introduction Cases

3 Titulo de la Presentación INTRODUCTION Riskier World Local Players’ Roles Innovations by Reinsurers Risk Management Approach Importance of Risk Surveys

4 Titulo de la Presentación IDEAL (Before the loss) Proven methods Prudent acting Competent personnel Smooth cooperation Reasonable budgeting Reasonable schedules REAL (As it turns out to be….) Trial and error Negligence Ignorance Chaos Underfunding Time pressure INTRODUCTION IDEAL VS REAL

5 Titulo de la Presentación Insurer Insured Policy Claim - Extent - Causation - Coverage/Liability - Indemnification - Subrogation - Loss Mitigation - Repair -….. THE THEORY IS SIMPLE INTRODUCTION

6 Titulo de la Presentación Insurer Insured Policy Claim Co-Insurer(s) Principal OEMs Sub-Contractors Banks Loss Adjuster Broker Re-Insurer(s) Lawyers Experts UnderwritingClaims ProjectSiteDesign THE REALITY: USUALLY COMPLICATED INTRODUCTION

7 Titulo de la Presentación Understand my business Sufficient capacity Accurate & Consistent View of Risk Practical advice Reasonable premium Prevent losses Avoid surprises Fair claims payments Understand exposure Balanced portfolio Accurate & Consistent View of Risk Delivery solutions for client Sufficient premium Prevent losses Avoid surprises Fair claims payments INSURED INSURER EXPECTATIONS OF THE INSURED AND INSURER

8 Titulo de la Presentación EXPECTATIONS OF THE REINSURER Accurate & Consistent View of Risk Presentation of data in the requested format Sufficient premium Familiarity with the general principles of law governing reinsurance contract Prevent losses (risk improvement and loss control) Timely and Comprehensive Reporting Claims Control Fair claims payments

9 Titulo de la Presentación WHERE DO THEY MEET? Prevent Losses Avoid Surprises Accurate & Consistent View of Risk Fair Claims Payments Prevent Losses Prevent Losses

10 Titulo de la Presentación CURRENT SITUATION Differences in expectations Lack of understanding and communication Catastrophe Modelling BI Exposure Application of Loss Prevention Measures Risk Managers Claims Control – Post Loss Mitigation Measures

11 Titulo de la Presentación LOSS PREVENTION MEASURES Identification of Risks Risk Improvements Development of Loss Control Programme Business Continuity Plan Maintaining the programme SUMMARY

12 Titulo de la Presentación LOSS PREVENTION MEASURES Find out if the risk offered is acceptable; Help in determining an appropriate rate to be charged; Make recommendations for improvement of the risk; Make an estimate of the maximum amount, or percentage of the risk that is likely to be lost in one fire or any other loss. RISK SURVEYS

13 Titulo de la Presentación LOSS PREVENTION MEASURES EXAMPLES RISK SURVEYS

14 Titulo de la Presentación 14 We have proven equipment! LOSS PREVENTION MEASURES EXAMPLES

15 Titulo de la Presentación 15 We use qualified contractors only! EXAMPLES LOSS PREVENTION MEASURES

16 Titulo de la Presentación 16 Ooops! EXAMPLES LOSS PREVENTION MEASURES

17 Titulo de la Presentación 17 We have strict procedures and standards EXAMPLES LOSS PREVENTION MEASURES

18 Titulo de la Presentación 18 Our staff are highly motivated EXAMPLES LOSS PREVENTION MEASURES

19 Titulo de la Presentación 19 We have fire doors... Yes, but the walls are not.. EXAMPLES LOSS PREVENTION MEASURES

20 Titulo de la Presentación 20 We are painters, we paint everything… EXAMPLES LOSS PREVENTION MEASURES

21 Titulo de la Presentación 21 No comments… EXAMPLES LOSS PREVENTION MEASURES

22 Titulo de la Presentación 22 Fire truck? EXAMPLES LOSS PREVENTION MEASURES

23 Titulo de la Presentación 23 Fire door. But what is it? EXAMPLES LOSS PREVENTION MEASURES

24 Titulo de la Presentación 24 Risk prevention is not a game… EXAMPLES LOSS PREVENTION MEASURES

25 Titulo de la Presentación RISK SURVEYS OBJECTIVES The purpose of the risk inspection program is to provide Insurers & Re-Insurers with a comprehensive understanding of this risk, including:  Overview of the Plant  Compliance of activities and equipment with the insurance proposal  Condition of equipment  Plant life management philosophy and implementation  Adequacy of maintenance strategy  Review of management and technical documentation and reports  Impact of differences on risk profile  PML considerations  Comments on environmental risks and political/social risks  If BI: review of contracts, redundancies, business figures, spare part inventory

26 Titulo de la Presentación RISK SURVEYS Specific Review Topics  Process and equipment characteristics  Prototypical elements  Plant organization  Maintenance approach, history and schedule  Fire protection, detection and suppression systems, inspection program and records  Fire plant/emergency response procedures  Capital spares for major equipment  HSE and QA/QC manuals  Example internal/external risk/safety audit reports  Accident/incident reports + details of any losses or incidents to date during site works  Client organization & management training program

27 Titulo de la Presentación IMPROVING RISK STANDARDS Ability to Understand the Risk Contract Certainty / Willingness to Handle the Claims Product Innovation Risk Manager or Insurance Buyer? Appointment of Experts Pro-active approach in loss control programmes RECOMMENDATIONS

28 Titulo de la Presentación EXPLOSION AND FIRE – OIL REFINERY IN SPAIN CASES

29 Titulo de la Presentación EXPLOSION AND FIRE – OIL REFINERY IN SPAIN CASES

30 Titulo de la Presentación EXPLOSION AND FIRE – OIL REFINERY IN SPAIN CASES

31 Titulo de la Presentación FIRE & BUSINESS INTERRUPTION – VARNISH & COATINGS MANUFACTURING PLANT IN TURKEY CASES

32 Titulo de la Presentación EARTHQUAKE / INDUSTRIAL PLANT IN ITALY CASES

33 Titulo de la Presentación CASES FIRE – COMMERCIAL BUILDING IN SPAIN

34 Titulo de la Presentación FIRE – COMMERCIAL BUILDING IN SPAIN CASES

35 Titulo de la Presentación COLLAPSE OF H2SO4 TANK – FERTILIZER FACTORY CASES

36 Titulo de la Presentación CASES COLLAPSE OF H2SO4 TANK – FERTILIZER FACTORY

37 Titulo de la Presentación FIRE – PRINTING FACTORY IN IFRANCE CASES

38 Titulo de la Presentación FIRE – CONSTRUCTION PROJECT IN KAZAKHISTAN CASES

39 Titulo de la Presentación CASES FIRE – CONSTRUCTION PROJECT IN KAZAKHISTAN

40 Titulo de la Presentación FIRE – PVC FACTORY IN TURKEY CASES

41 Titulo de la Presentación CASES FIRE – PVC FACTORY IN TURKEY

42 Titulo de la Presentación CASES FIRE – PVC FACTORY IN TURKEY

43 Titulo de la Presentación CASES ACCIDENT DURING START-UO – HIGH SPEED TRAIN IN MEXICO

44 Titulo de la Presentación ACCIDENT DURING START-UO – HIGH SPEED TRAIN IN MEXICO CASES

45 THANK YOU / TESEKKURLER

46 Titulo de la Presentación HAKAN ILERI


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