Indexation Clause in Reinsurance Policies
A reinsurance contract between a ceding insurer as well as a reinsurer can last for a long period of time. A lot of the time, claims are not paid immediately. Instead, claims are paid over a long period of time. Such types of claims are called “long-tailed claims”. The problem here is that the reinsurance […]
Hands on Approach to Leadership: The Need for Leaders to be Good Administrators
Need for Modern Day Leaders to Adopt a Hands-on Approach It is often assumed that leadership is all about having a vision and then, implementing the vision by delegating work and components of the plan appropriately to the subordinates. Further, it is also thought that leaders should engage in planning and drawing up high-level aspects […]
Captive Insurance and Reinsurance Companies
There are many new and different types of arrangements that are used in the reinsurance industry. Captive insurance is one such unique arrangement. Captive insurance is actually a part of an elaborate corporate strategy for many companies. It has also spawned different arrangements such as fronting. It is important to understand what captive insurance is […]
How Reinsurance Companies are Taxed?
The coronavirus pandemic has brought the focus on to the operations of the insurance as well as the reinsurance sector. The performance of this sector was considered to be key in order to ensure that the economies of many countries stay afloat during this period. It is for this reason that the taxation of reinsurance […]
Transactional vs Transformational Leadership in Change Management
Leaders play a crucial role in steering organizational change and inspire or stimulate people for achieving excellence at work by realizing the pre-defined goals. Effective leadership provide a direction and vision to the people from top to bottom, develops a conducive culture, climate and values for enabling certain expected code of conduct or behaviour out […]
Employees are the backbone of every organization. They play a crucial role in controlling and also reducing the threats to organization. The major threat to an organization is a non serious employee who attends office just for the sake of it. Individuals need to love their organization for them to deliver their level best.
The first initiative towards reducing threat to organization is to genuinely develop a feeling of respect for your organization. Do not love your organization just because your Boss has asked you to do so. The feeling needs to come from within.
The moment you are loyal towards your organization, your productivity would increase manifold eventually benefitting the organization. Do not work just for your salary. After all money is not everything. Your career and professional goals are more important.
Keep confidential information to yourself. You can have best friends at the workplace but you really do not have to discuss work and team strategies with him /her. There are other things to discuss as well. Do not pass on information to your competitors. Trust me; it is in fact a crime to do so. If caught, not only would it spoil your entire career but also bring a bad name to you and your family. A sense of commitment towards the organization is essential.
It is unacceptable on part of a professional to share data, figures, balance sheets, salaries of employees, business strategies with not only competitors but also clients as well as friends within the organization. Data hacking is one of the cheapest activities an employee can indulge into.
Take care of your office property. Make sure your office machine is used only for official purposes and not for downloading movies, uploading personal pictures and so on. Use your office computer the same way you use your personal laptop.
Make sure the computer is switched off properly. Do not simply turn off the main button. It will crash your system. Your official email id should be strictly used for official purposes only and nothing else. Do not chat with your friends and relatives from your official email account.
Do not indulge in nasty office politics. Remember, going on strikes is not the only solution. Rather than indulging in unproductive activities, damaging office property, influencing co workers not to work, it is always better to sit face to face, discuss, sort out issues and reach to mutually beneficial solutions. Do not play blame games at workplace. Never spoil the work culture. Make your organization a happy place to work.
Respect organization policies. Keep important documents and files at proper places and make sure you lock your drawers properly before you leave for the day. Also lock your cabin properly so that no one else can enter and steal important data once you are out of the office. If you do not adhere to the security policies of your organization, do not be surprised if your competitor comes out with marketing strategies which you have formulated a month ago with your team mates. Lock your systems carefully. Do not keep common passwords which others can predict easily.
Keep your workstations tidy and never write important pass words, account details on loose papers. All important documents need to be put in the paper shredder first before finally disposing. You never know when someone can misuse the information written on them.
Memorize routes to safe areas from your work station in case of fire. Do know where the fire extinguisher is kept and also how to operate the same. An employee needs to know all emergency exits and also acquaint themselves with emergency evacuation procedures. Be prepared to face unwanted situations and remember never to panic.
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