A Case Study on the Particularities and Sustainability of the Concepts of TQM, Quality Control, and Risk Management in the Corporate Insurance Industry: Loss and the Incidence of Catastrophic Risks.
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| Title: | A Case Study on the Particularities and Sustainability of the Concepts of TQM, Quality Control, and Risk Management in the Corporate Insurance Industry: Loss and the Incidence of Catastrophic Risks. |
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| Authors: | Păvălașcu, Narcis Sebastian1 narcis@pavalascu.com, Gabor, Manuela Rozalia1 manuela.gabor@umfst.ro |
| Source: | Interdisciplinarity in Engineering. 2020, Vol. 14, p1-9. 9p. |
| Subjects: | Total quality management, Business insurance, Risk management in business, Sustainable development, Quality control |
| Abstract: | The development of quality control and risk management systems is a priority for any industry and especially for the corporate insurance industry. Defective product and work incidents represent 14% of the total number of insurance claims, serving as the main loss of liability for businesses. According to a Allianz Global Corporate and Specialty press release, the cyber risks and impact of new technologies will have an increasing influence on the landscape of corporate losses in the coming years. Our results from this study conclude that the emerging business risks for the next 3-4 years are as follows: cyber incidents, 48%; new technologies, 30%; and changes in legislations/regulations, 28% (i.e., the present pandemic cause by COVID-19, the Brexit, trade wars, and tariffs etc.). [ABSTRACT FROM AUTHOR] |
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| Database: | Engineering Source |
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