Nokia 2008 Annual Report Download - page 226
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35. Risk Management (Continued)
Hazard risk
Nokia strives to ensure that all financial, reputation and other losses to the Group and our customers
are minimized through preventive risk management measures or purchase of insurance. Insurance is
purchased for risks, which cannot be internally managed. The objective is to ensure that Group’s
hazard risks, whether related to physical assets (e.g. buildings) or intellectual assets (e.g. Nokia) or
potential liabilities (e.g. product liability) are optimally insured taking into account both cost and
retention levels.
Nokia purchases both annual insurance policies for specific risks as well as multiline and/or multi
year insurance policies, where available.
F82
Notes to the Consolidated Financial Statements (Continued)