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15-Apr-13
Chng 5. Ti tr ri ro
Ni dung nghin cu:
5.1. Gii thiu chung 5.2. Mt s phng php ti tr ri ro 5.3. So snh cc bin php chuyn giao ti tr ri ro 5.4. Nhng vn cn xem xt khi la chn gia phng php lu gi v chuyn giao ri ro
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Cho d
chng ta c nhng n lc trong vic kim sot ri ro nhng tn tht vn xut hin. Vic khng th kim sot c tt c ri ro c ngha l phi chp nhn ti tr nhng ri ro xut hin.
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TI TR RI RO
tr ri ro l mt hot ng th ng nu em so snh vi kim sot ri ro. Trong khi hot ng kim sot ri ro l ch ng nhm gim tn tht ca mt hot ng hoc ti sn, th ti tr ri ro li i ph theo ngha n ch hnh ng sau khi tn tht xut hin. Ti tr ri ro: tr li cho cu hi: Ai tr tin?
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b)
c)
Ti tr ri ro qu kh: khi vic thanh ton tn tht c phn b ra nhiu chu k sau khi xy ra khiu ni, ti tr ri ro lin quan n cc tn tht trc y. Ti tr ri ro hin ti: khi t chc c ngun thu nhp ln, gnh nng ti chnh ca tn tht c th c coi nh mt chi ph hin ti, khng cn c mt k hoch c th trc. Phng php ny thng c s dng bi cc t chc khng bit s dng cc phng php qun tr ri ro. Ti tr ri ro tng lai: khi ngn qu c tch ly trc khi tn tht xy ra. 5
b)
Lu gi tn tht: hu qu tn tht ti chnh c ti tr t ngi c tn tht. l phng php m t chc b tn tht t chi tr cc tn tht. Chuyn giao ti tr: hu qu tn tht ti chnh c ti tr t ngi khc. l phng php m t chc khc ng ra chi tr cc tn tht.
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gi tn tht l hnh thc chp nhn chu ng tn tht theo hu qu ti chnh trc tip. y l phng php t thanh ton cc tn tht (t chc t chi tr cc tn tht). Ngun b p ri ro l ngun t c ca chnh t chc , cng thm vi ngun vay mn m t chc phi c trch nhim hon tr.
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K hoch lu gi tn tht c th l: Khng chun b trc ngn qu, khi c tn tht s bi thng t ngun huy ng c. Nhc im ca phng php ny l cc hot ng sn xut ca t chc c th b nh hng bi cc kt qu ti chnh bt ng.
Ti khon n d phng: t chc lp mt ti khon n gii quyt nhng tn tht ngoi d tnh. Hng nm d kin mt khon tn tht s c cng thm vo ti khon, ng thi li nhun hoc cc ngun li ti chnh khc s b gim mt khon ging nh vy. Khi mt tn tht khng bo him xy ra, lng tn tht ny s c tr vo ti khon n trn thay v tr vo li nhun ca t chc. y khng phi l phng php to ngun qu m thc cht l phng php hch ton chi ph tn tht.
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K hoch lu gi tn tht c th l: (tt) Ti khon ti sn d phng: t chc gi mt khon tin mt hay cc ti sn c th d dng chuyn thnh tin mt chi tr cho tn tht xy ra m khng c bo him. Nhc im ca phng php ny l li nhun ca cc ti sn tin mt hoc cc ti sn gn nh tin mt c th thp so vi u t vo ch khc, c bit i vi nhng t chc c t sut li nhun cao.
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K hoch lu gi tn tht c th l:
d)
K hoch lu gi tn tht c th l:
d)
Bo him trc h: ngi bo him trc h l mt ngi bo him c s hu bi ngi c bo him. Bo him trc h l mt hnh thc t bo him v n khng chuyn giao ri ro cho mt ngi khc. Cng ty bo him trc h c th c hiu l mt chi nhnh bo him c s hu ton b bi mt cng ty c th hay mt ngnh cng nghip. N c hnh thnh y di hnh thc lin doanh cn thit trong vic ti tr mt phn ri ro ca cc cng ty m ca n trn c s kinh t.
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Bo him trc h (tt): C nhiu hnh thc bo him trc h: c s hu ton b bi mt cng ty Trc h thun ty L s hu chung ca mt nhm doanh nghip Trc h tp on L s hu chung ca mt nhm thnh vin thuc hip hi thng mi Trc h thng mi
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giao ri ro l vic sp xp mt vi thnh phn (chng hn nh bo him) gnh chu hu qu ti chnh trc tip, thng phi c chi ph. Chuyn giao l vic chuyn thanh ton tn tht cho cc thnh phn khc.
3.
Chuyn giao ti tr bng hp ng bo him Chuyn giao ti tr bng hp ng phi bo him Trung ha ri ro (hedging)
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Bo him
5.2.2.1. Chuyn giao ti tr bng hp ng bo him Bo him l mt phn quan trng trong chng trnh qun tr ri ro ca mt t chc cng nh mt c th. Bo him l mt hnh thc chuyn giao ti tr ri ro, trong ngi bo him chp thun gnh vc phn tn tht ti chnh khi c ri ro xut hin. Bo him c nh ngha nh l mt hp ng chp thun gia hai bn: ngi bo him v ngi c bo him. Theo hp ng ny, ngi bo him ng b p nhng tn tht c bo him (theo hp ng bo him) v ngi c bo him c trch nhim ng nhng khon ph bo him cng nh chi ph dch v cho ngi bo him.
Bo him l mt c ch, theo c ch ny th mt ngi, mt doanh nghip hay mt t chc chuyn nhng ri ro cho doanh nghip bo him, doanh nghip bo him s chi tr bi thng cho ngi c bo him cc tn tht thuc phm vi bo him. Khi tn tht xy ra, doanh nghip bo him ch chp thun thanh ton bi thng cho ngi c bo him l nhng ri ro bt ng, khng lng trc c.
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Chuyn giao ti tr ri ro cung cp mt ngun kinh ph bn ngoi c dng thanh ton tn tht khi ri ro xut hin. Chuyn giao ti tr ri ro phi bo him khc vi bo him ch ngi nhn chuyn giao khng phi l cng ty bo him v mt php l.
Phn ln chuyn giao ti tr ri ro phi bo him c thc hin thng qua mt hp ng nhm gii quyt cc vn khc, nhng cng c mt vi trng hp hp ng c thit k nhm mc ch chuyn giao ring cho tnh hung . Nhiu tha thun hp ng loi ny chuyn giao trch nhim ti chnh i vi tn tht ti sn trc tip hoc tn tht thu nhp, mt vi trng hp l tn tht ngun nhn lc; hu ht chuyn giao trch nhim ti chnh v php l cho thnh phn th ba.
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Hp ng thu mn nh, ngi ch nh chuyn giao cho ngi thu trch nhim ti chnh i vi s h hng ca ti sn c thu. Hp ng xy dng, ngi ch chuyn giao cho bn hp ng xy dng trch nhim bi thng tn tht khi c tai nn xy ra i vi ngi lao ng.
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5.3. So snh cc bin php chuyn giao ti tr ri ro Trung ha ri ro (hedging) Trung ha l mt c ch ti tr ri ro da trn c s nm gi mt ti sn c tng quan nghch vi ti sn ang nm gi. Trung ha ri ro khng phi l bin php ti tr ri ro lun c th p dng cho phn ln cc ri ro. Trong cc phng php ti tr ri ro, trung ha ri ro ging nhiu vi phng php bo him hn l phng php lu gi tn tht. Tuy nhin trong khi lu gi tn tht c th p dng cho mi ri ro, th trung ha v bo him c s dng cho mt s ri ro c th.
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5.3. So snh cc bin php chuyn giao ti tr ri ro Trung ha ri ro (hedging) Trong mt hp ng hedging s khng c iu khon bi thng trong khi hp ng bo him s c iu khon bi thng. Trung ha ri ro thng c s dng b p ri ro t s bin ng gi th trng ( l cc ri ro suy on) hn l t s h hi vt cht.
5.3. So snh cc bin php chuyn giao ti tr ri ro Bo him Bo him thng c s dng b p ri ro thun ty. Bo him c xu hng c s dng i vi cc ri ro c h hng vt cht, trch nhim php l, n thng c kim sot phn no bi ngi c bo him. Lu gi tn tht Lu gi tn tht c th p dng cho mi ri ro
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5.4. Nhng vn cn xem xt khi la chn gia phng php lu gi v chuyn giao ri ro Phng php lu gi
T
C s ra quyt nh ti tr tn tht
Loi tn tht Khng ng k Nh Tn s xut hin Rt cao Mc tn tht Rt thp D bo nh hng Khng ng k Bnh thng Tm trng Quyt nh ti tr Khng bo him
T
chc c nhiu ng c trong kim sot tn tht c th gnh chu ca mnh. Cc nh qun tr hiu r v t chc ca mnh nn c th tp trung gii quyt c cc vn quan trng ca t chc.
ty bo him c nhiu kinh nghim trong vic bi thng tn tht. Cng ty bo him c nhiu chuyn vin gii. Cc cng ty bo him c nhiu loi dch v bo him cung ng cho khch hng.
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Rt cao
Cao
Thp
bo him
Trung bnh Ln
Thp
Him khi xy ra
Thm ha
BH ton phn
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Quyt nh lu gi hay chuyn giao nn xt ti cc yu t sau: Li ch ca hp ng bo him Cc gii hn ca chuyn giao Mc kim sot Ph cho bo him Gi tr c c t bo him Chi ph c hi Thu S pht trin ca th trng bo him Hn ch ca lut php
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Bt buc phi gi li
Khng c phng tin chuyn giao Khng c ngi nhn chuyn giao Khng th trnh hoc ngn nga
KT THC CHNG 5
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