First meeting of the Integral Risk Management and Infrastructure Cycle

The Externado Center for Studies on Risk and Insurance (CERS) continually assembles experts, students, and graduates to discuss current issues in this matter.

This time, the conference was offered by Professor and researcher Libardo Polanco Cruz, Insurance Specialist with a Master’s in Integral Risk Management from our House of Studies. Currently, he is a Professor of the Insurance Specialization, on government contracts and official insurance.

His conference on risk assessment of extra-contractual civil liability in State contracts for heavy construction allowed attendees to learn how the insurance sector operates in these cases and opened a discussion on this issue.

The expert mentioned some of the factors that should be taken into account in insurance risk management. First, the variables to be simulated must be determined, as well as their probability distributions. Next, correlations between variables must be established and a calculation of the number of necessary simulations. Lastly, determine the errors contained in the variables at the time of analysis.

The Conference referenced the project developed by the researcher during his Master’s in Integral Risk Management studies, which was chosen as one of the best graduating thesis presented in Murcia, Spain.

Also, the Professor referred to the lawsuits against the State; according to his research, the majority pertain to environmental damages.

The next Conference of the series will be Wednesday, November 8, 2017, offered by Octavio Serrano and will address the approach to regulatory risk through renegotiation of concession contracts for highways in Colombia