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Risk Assessment , Evaluation and Damage Quantification

Risk Assessment , Evaluation and Damage Quantification. Dawn Slevin Environmental Liability Services Ltd., Managing Director. www.elsireland.com. Risk Context & Objectives. RISK CONTEXT ELD Liability Traditional Liability Overlap. Risk Context. OBJECTIVES Develop New Products

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Risk Assessment , Evaluation and Damage Quantification

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  1. RiskAssessment, Evaluation and Damage Quantification • Dawn Slevin • Environmental Liability Services Ltd., Managing Director www.elsireland.com

  2. Risk Context & Objectives • RISK CONTEXT • ELD Liability • Traditional Liability • Overlap Risk Context • OBJECTIVES • Develop New Products • Revise Existing Products • Other Objectives www.elsireland.com

  3. Conceptual Model Development • CONCEPTUAL MODEL • Source • Pathway • Receptor Risk Context Conceptual Model • OPERATIONAL FACTORS • Technical & Environmental • Legal & Corporate • Other Objectives Operational Factors www.elsireland.com

  4. Risk Evaluation & Decision Making • RISK EVALUATION • Uncertainty • Frequency /Probability • Severity Risk Context Conceptual Model Decision Making Risk Evaluation • DECISION MAKING • EIL Policy • GTPL Policy • Self-Insurance Objectives Operational Factors www.elsireland.com

  5. Towards Sustainable Insurance Solutions Risk Context Conceptual Model SUSTAINABLE INSURANCE SOLUTIONS Decision Making Risk Evaluation Objectives Operational Factors www.elsireland.com

  6. Conclusions • Risk Assessment is key to evaluate insurability • The Conceptual Model is an essential tool • Data gathered is useful for Claims Management • Close cooperation between insurance purchaser and insurer is required • Insurance should not be viewed as asubstitute for Risk Management Risk Context Conceptual Model Decision Making Risk Evaluation Objectives Operational Factors THANK YOUR FOR YOUR ATTENTION! www.elsireland.com

  7. For more information www.cea.eu CEA aisbl Square de Meeûs 29 B-1000 Brussels Brussels 13 February 2008

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