Effective Date: January 1, 2025
Last Updated: January 1, 2025
NBR. Company Ltd. (“NBR”, “we”, “our”, “us”) is committed to maintaining a robust framework for risk management and insurance to protect its operations, assets, clients, and stakeholders. This Policy defines NBR’s approach to identifying, assessing, mitigating, and monitoring risks across all aspects of our business and outlines our insurance strategies to safeguard continuity and resilience.
1. Purpose
The purpose of this Policy is to:
- Establish a structured and proactive approach to risk identification and management.
- Ensure continuity of operations in the face of operational, financial, technological, or strategic risks.
- Protect the interests of clients, employees, and stakeholders through comprehensive insurance coverage.
- Comply with regulatory requirements and international best practices for risk governance.
2. Scope
This Policy applies to all NBR operations, including:
- Corporate divisions and consulting services (technology, finance, cybersecurity, e-commerce, strategy).
- Digital platforms, proprietary systems, and intellectual property.
- Physical offices, infrastructure, and assets.
- Employee and contractor activities associated with NBR operations.
3. Risk Management Principles
NBR’s risk management approach is based on the following principles:
3.1 Identification
- Continuous monitoring of internal and external risks, including strategic, operational, financial, technological, and regulatory risks.
- Use of predictive analytics, scenario planning, and audit insights to identify potential threats.
3.2 Assessment
- Evaluation of risk likelihood, potential impact, and severity.
- Prioritization based on strategic importance and exposure to clients, business operations, or regulatory obligations.
3.3 Mitigation
- Implementation of preventive and corrective measures to reduce exposure.
- Deployment of redundancies, automation, and security frameworks to minimize operational risks.
- Regular review and updating of mitigation strategies to align with evolving threats.
3.4 Monitoring and Reporting
- Continuous tracking of risk metrics and operational indicators.
- Regular internal reporting to executive management and governance committees.
- Escalation procedures for high-risk incidents requiring immediate attention.
4. Insurance Strategy
NBR maintains a comprehensive insurance framework tailored to our operations and client obligations:
4.1 Coverage Types
- Professional Liability Insurance – Covers errors, omissions, and advisory-related risks.
- Cyber Liability Insurance – Protects against data breaches, cyberattacks, and digital asset loss.
- General Liability Insurance – Covers bodily injury, property damage, and third-party claims.
- Directors & Officers (D&O) Insurance – Provides coverage for corporate governance and leadership-related liabilities.
- Property & Equipment Insurance – Protects physical assets, including offices, servers, and equipment.
- Business Interruption Insurance – Ensures financial continuity in the event of operational disruptions.
4.2 Policy Review
- Insurance coverage is reviewed annually or more frequently as operational scope and risk exposure evolve.
- Limits, deductibles, and coverage terms are assessed to ensure alignment with NBR’s strategic objectives and risk appetite.
5. Roles and Responsibilities
- Board of Directors / Executive Committee – Oversight of risk management strategy and insurance policy adoption.
- Risk Management Team – Identification, assessment, monitoring, and reporting of risks across divisions.
- Department Heads – Ensure operational compliance with risk mitigation procedures within their units.
- Employees & Contractors – Adherence to internal controls, reporting of incidents, and participation in risk management protocols.
6. Incident Response and Claims Management
- All incidents with potential operational, financial, or reputational impact must be reported immediately to the Risk Management Team.
- NBR maintains formal procedures for investigation, mitigation, and documentation of incidents.
- Insurance claims are processed in accordance with contractual requirements, regulatory obligations, and internal escalation protocols.
7. Compliance and Continuous Improvement
- Risk management and insurance practices comply with national and international regulations applicable to NBR operations.
- Policies and procedures are regularly reviewed and updated to reflect emerging threats, regulatory changes, and industry best practices.
- Continuous improvement is achieved through audits, internal reviews, scenario testing, and feedback from key stakeholders.
8. Communication and Confidentiality
- Risk assessments, incident reports, and insurance claims are confidential and accessible only to authorized personnel.
- Disclosure to external parties occurs only as required by law, regulatory authorities, or contractual obligations with clients.
9. Review and Amendments
- This Policy is reviewed at least annually or when significant operational changes occur.
- Modifications require approval from the NBR Executive Committee and Board of Directors.
10. Contact
For inquiries or reporting regarding Risk Management or Insurance, please contact:
NBR. Company Ltd.
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📧 support@nbr.company
