This measure provides cost input to the analysis of how risks should be managed. Organisations must monitor the cost of insurance against the benefits that are received. A measure of the costs will give an indication of the pros and cons of risk minimisation (or elimination) efforts, against the cost of paying for insurance.
BPIR Categories11.1.5 Manage financial risk
11.6.4 Manage physical risk
15.6.11 Financial management
15.6.12 Manage buildings, equipment & materials