Dubai Flood, where is the Challenge? Have we missed Risk Management? The Risk Management Research скачать в хорошем качестве

Dubai Flood, where is the Challenge? Have we missed Risk Management? The Risk Management Research

This video discusses the risk management issues related to the Dubai Flood. The Risk Management Research | Sonjai Kumar #riskmanagement #risk #riskassessment #riskanalysis #riskida #riskcontrol #riskcommunication #riskcapital #riskplanning #enterpriseriskmanagement #capital #insurance #riskawareness hello my name is Sonjia Kumar and welcome to my channel the risk management research I'm going to talk today on The Bu flood where is the challenge and uh have you missed uh risk management details in this um I think it is a warning signal for all uh the event has occurred in Dubai but uh this throws the warning for uh for all the countries uh if we look at uh the headlines of the various uh newspapers uh they are focusing on on the cloud seeding the cause of this U of this flood or this rainfall uh most of the headlines are 00:54 saying that not cloud seeding is responsible for that but it is the climate change to be blamed uh similarly other news news article says that did Cloud sheding cause the B flood U what what to know about the science so uh these are the common U common news floating um in the um in the news articles and uh however uh I have not seen uh in identifying that how such things uh can be mitigated because the loss for such events are humongous let's see uh what we want to you know analyze and share with you what is the challenge the challenge 01:54 through this event is that uh the question is not that whether it is due to a cloud seeding or it is due to a climate change uh the such events uh uh may be happening in other parts of the country but what can be done the question is have we learned from such event of the past or such disasters uh as an organization or as a country because uh if we have done that then there should be a learning process some of the examples uh if you quote is the uh 2008 economic crisis uh covid-19 The Way flood and uh if we look 02:44 at uh uh other examples we can find it out now the question is that uh where is the challenge and how the losses from such events can be reduced or can be MI iated uh is there any learning process or there is a gap in the implementation of of some of the learnings that is happening that's what we are going to analyze in this uh in this stock so what was the event here uh I'm quoting uh business standard it says that uh a record breaking 250 54 mm of rainfall happened and this was more than the average rainfall witnessed by the 03:39 country in the entire year this is an substantial U substantial amount of rain within a 24 hours period now what was the impact because uh the impact is important uh loss of lives if I'm not wrong something like 20 20 lives are lost there's a loss to the property infrastructure automobiles um I think that uh automobiles is the one thing where maximum number of claims are going to arise in the coming days one can say that you know these structures are insured and the cost of damage be born by the third party that is the insurance 04:29 company this is the you know the Playa one can take when you know such event has happen what is the remedial action but this is not true because uh even if the the property or the automobiles are insured uh the question is that the the co the cost of such kind of event have been loaded into the premium or not if premium is priced based on the normal event then there's going to be a hole in a balance sheet because uh uh that premium is not charged from the customers uh and uh in the coming days uh we may watch out that uh uh how much 05:20 you know the claim is arising I think it will be an interesting case study uh for us to watch that uh uh what is the consequence on the insurance industry so uh therefore you know I have put it on red that watch how insurance companies perform in the coming month one can also say that you know the insurance company take reinsurance to cover such risks this is true um the catastrophic risk or very high uh some insured or some insured uh insurance company take a reinsurance and reinsurance company bear the hit now the 06:02 question is that uh in such cases even reinsurance companies bear the losses uh the very good example is a CO when most of the insurance company with especially with the p protection product had reinsured their products and uh ultimately all the reinsurance company across the world suffered the losses so uh even though it is a risk management technique for the insurance companies but someone is bearing the loss now if you look at uh some of the um the headlines you know that is coming out about the impact so um the Central