Nokia 2011 Annual Report Download - page 292
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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. Insurance is purchased for risks, which
cannot be efficiently internally managed and where insurance markets offer acceptable terms and
conditions. The objective is to ensure that 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 multiyear
insurance policies, where available.
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