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Industry biggies take lessons on risk management
One of the primary responsibilities of the corporate governance is to safeguard the organisation against risks to which it is exposed and utilise the opportunities provided by new situations, said Asia Pacific Risk Management Services CEO RR Balakrishna.
Visakhapatnam: One of the primary responsibilities of the corporate governance is to safeguard the organisation against risks to which it is exposed and utilise the opportunities provided by new situations, said Asia Pacific Risk Management Services CEO RR Balakrishna.
He was speaking at a seminar on ‘Risk Management - Sources of Risk, undertaking of risk & mitigation of risk’ organised by the Andhra Pradesh Chambers of Commerce and Industry Federation in Visakhapatnam on Friday.
The Andhra Pradesh Chambers has taken the lead by involving all the stakeholders, including insurance companies, banks, on one platform and settled more than 50 per cent of insurance claims, said G Sambasiva Rao, President Elect, AP Chambers of Commerce and Industry Federation, during his welcome address.
Not only that Andhra Pradesh Chambers is tirelessly working with Insurance Regulatory Development Authority (IRDA) to remove the loopholes but also to streamline the insurance policies by taking the industry risk perception all together, he noted.
The seminar witnessed the participation of more than 100 people, mainly from Laurus Labs, Andhra Petro Chemicals, Brandix Apparel, Mylan Group and Lohita Life Sciences.
AP Chambers Vice-President Dr K Kumar Raja and AP chambers Safety Committee Chairman B Madhu deliberated on the nuances of undertaking of risk and methodology of mitigating the risk.
