Research On The Management Risk Assessment And Solutions Of Shipping Insurance

After Chinese shipping market goes through several decades of drastic changes and fluctuations,various insurance entities have gradually turned to the rational management and gradually transformed to benefit management from traditional scale management.However,the shipping market remains weak and has poor management efficiency.Especially subsequent major shipwrecks and other major accidents in recent years push the shipping insurance management to the cusp again.Weihai central branch of China Pacific Property Insurance CO.,Ltd(hereinafter referred to as" Weihai branch of CPIC")repeatedly suffers setbacks in the shipping insurance business in recent years.Its management scale shrinks year by year(the insurance fee scale in recent three years shrinks 6.3 million)and its management quality goes downhill with loss year after year.In the face of such severe management situation,how will shipping insurance operate?What are the major management risks of shipping insurance?How to look for a glimmer of expectation in the depression that makes the global shipping market almost crazy?How does the coastal town,Weihai,seek new breakthrough points for management in the fierce and cruel competition of shipping insurance market?All mentioned above become the main research purpose and research content.As the shipping insurance management officer in the Weihai branch of CPIC,the author of this paper well knows the importance of shipping insurance and its risk management.Therefore,the paper takes the Weihai branch of CPIC as the example and mainly wants to analyze the risk problems of shipping insurance market and countermeasures by combining the theoretical knowledge and daily management practices of the author.In this paper,on the basis of the classified analysis for various risks of shipping insurance and the research on impacts from shipwrecks and moral hazard on the operation of shipping insurance with the matrix analysis method,by an established indicator system and appropriate methods,the market management risk of shipping insurance is assessed,and then by a case analysis,risk solution strategies for the shipping insurance market are explored,it conducts the evaluation analysis for market risks of the shipping insurance,dissects strategic solution to market risks of the shipping insurance with the case analysis method and puts forward the innovative countermeasures for insurance companies to dissolve risks.Focusing on above goals,this paper mainly conducts the research from following aspects:First,it shows the research purpose and research significance of this paper.Second,it briefly summarizes the research overview for risk situations of shipping insurance and the research status at home and abroad.Third,it elaborates the related concepts of shipping insurance and analyzes the risk characteristics of shipping insurance,including the broadly defined meaning and the meaning on narrow sense.This paper lays emphasis on the operation risks of shipping insurance in a narrow sense.Fourth,an index system of shipping management risk for shipping insurance is established,methods for a risk assessment to shipping insurance are summarized,and by relating methods a risk assessment plan is designed for shipping insurance suitable to Weihai branch of CPIC;It analyzes the specific risks of shipping insurance and puts forward the analysis methods for evaluating risks.It focuses on the analysis of shipwreck risks,value and moral risks from inherent specific risks,of which they have major impacts on the entire operation of shipping insurance.Fifth,it takes the fishing vessel insurance data in the Weihai branch of CPIC for recent ten years as the example,conducts the analysis of shipwreck risk and moral hazard in the ship insurance operation as well as response and handling methods for such risks in practice,proposes the main resolution strategy for such above-mentioned risks.Sixth,it is the discussion of operating strategies for shipping insurance market in Weihai branch of CPIC and the analysis of expectation.It puts emphasis on the analysis of impacts caused by new management modes and management methods on management achievements,emphasizes the importance and necessity of investment in "software" for insurance companies.It also discusses new management strategies that can be applied by insurance company for shipping insurance to enhance the management value.