MANAGEMENT

Detailed explanation-1: -Human Risk encompasses loss to an organisation caused by human factors including the decisions and non-decisions, actions and non-actions of its people. “Loss” includes both financial and non-financial loss. Human Risk can also be caused by how an organisation manages its people and what it demands from them.

Detailed explanation-2: -Operational risk is the risk of losses caused by flawed or failed processes, policies, systems or events that disrupt business operations. Employee errors, criminal activity such as fraud, and physical events are among the factors that can trigger operational risk.

Detailed explanation-3: -Health, life, critical illness, retirement cover, travel hazards, can be identified as group risks affecting a group of employees.