Minimise risk rather than relying on insurance
In collaboration with Bharat Reinsurance Brokers Private Limited, Chennai, a pioneer in insurance consulting and claims management in India, Sri City conducted an executive session on Risk Management for Businesses on Friday
Tirupati: In collaboration with Bharat Re-insurance Brokers Private Limited, Chennai, a pioneer in insurance consulting and claims management in India, Sri City conducted an executive session on Risk Management for Businesses on Friday.
The founder of Shriram Group R Thyagarajan, delivered the keynote address. Encompassing different aspects of general insurance coverage for business enterprises, he outlined the origin and status of general insurance in the country, risk management and role of insurance brokers in developing a risk management culture.
He called upon the industries to focus on minimising the risks by adopting proper safety and security measures, rather than depending on insurance and claiming compensation.
Giving a talk on cyber risks, Director, Global Strategy & Special Projects, Bharat Reinsurance Brokers, TL Arunachalam, said that besides property and other usual risks, cyber risk was an emerging major risk, which needs to be recognised and adequately covered.
The founder MD of Sri City Ravindra Sannareddy has said that insurance plays a key role in mitigation of risks and insurance broking plays a significant role in offering significant value to enterprises in managing their risk effectively.
Chief Financial Officer of Sri City R Nagarajan gave a welcome address and explained the intent of organising the session. About 80 senior executives from different units of Sri City attended the session.