ISO 31000 Risk Management and Insurance

Assessment report

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Discussing ISO 31000 Risk management....................................................................................3
Describing some standards to support ISO 31000.......................................................................3
Identification of importance of international standards...............................................................3
Three list of legislation and hoe code of conduct and national standards affect risk
management.................................................................................................................................3
Examples of risk management.....................................................................................................4
Analysing the way to mitigate the risk from insurance...............................................................5
Adjustment related to disable person ..........................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Risk management refers to the process of identifying, assessing and controlling threats of
an organization and it include different types of risk and threats (Agca and et.al., 2017). In this
report ISO 31000 is discusses and its implementation and determining types of insurance that
used in mitigate the risk and summarising risk management strategies.
MAIN BODY
Discussing ISO 31000 Risk management
This provides guidelines, framework and process of managing the risk and that could be
used by any organization regardless of size and activity. Using this will improve the
opportunities and achieving the objectives through allocate the effective resources in
management.
Describing some standards to support ISO 31000
 IEC 31010- This standards concerning with risk management and supports ISO 31000 in
providing application of risk assessment techniques.
 ISO 31000: 2009- This standard provided the implementation of risk management and it
is applicable to any private and public association.
 ISO Guide 73: 2009- It helps in encouraging mutual and consistent understanding of
approach and manages risk. It involve in developing national and specific standards,
procedure.
Identification of importance of international standards
The international standards that is used in automotive industry is ISO/TS 16949 which is
used globally and it is developed by Automotive Task Force (IATF). Some of the importance
and effectiveness of this standards are as follows-
 This gives the framework for achieving best practices with design and manufacture of
products into automotive supply chain.
 This is internationally recognized quality management system standards and promotes
business improvement by focusing on reducing variations in waste.
Three list of legislation and hoe code of conduct and national standards affect risk management
Three types of legislation are-