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Triple Bottom Line Risk Management_9

Tham khảo tài liệu 'triple bottom line risk management_9', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 240 Indemnity in Perpetuity Mining New Zealand The outcome of this approach was indeed conservative but the advantage was that the regulators accepted the method and the results it produced with minimal debate. Modeling Results ISR Insurance Component. The results of modeling for the ISR insurance component produced a sum equivalent to the annual insurance premiums that would be paid to realistically cover the occurrence of sudden events. Figure 15.2 shows that two risk issues pit lake outlet and waste seepage release were the two riskiest events and accounted for approximately 96 percent of the total project risk for the ISR insurance events. The combined occurrence cost of these events was therefore the risk cost. However as insurance for sudden and accidental environmental events was widely available the risk cost was not used directly in the derivation of the capitalization sum. Instead discussions with WGC s broker identified an annual premium offered by the insurance industry and this was used to calculate the ISR insurance component. Even though the risk quotient for the catastrophic tailings release event lay below the risk cut-off as Figure 15.2 shows this event dominated the exposure profile. From a technical standpoint this event could be excluded but it was retained for political reasons. The outcome of the discussions with the insurance industry was that ISR insurance to cover 12 million for catastrophic tailings release was around 45 000 per year but for the same premium up to 50 million could be purchased . This level of cover would be more than adequate for the riskiest events. The estimated net present value of an annual ISR premium of 45 000 per year discounted over the 50 years that the potential for a tailings release event was assumed to exist was 960 000. Gradual Risk Component. Figure 15.3 shows the key information used to derive the gradual risk component of the capitalization sum. Figure 15.3 shows that the riskiest issues waste collection