Ubisoft 2012 Annual Report Download - page 45
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Management Report
2012
40
1.7.5 INDUSTRIAL OR ENVIRONMENT-RELATED RISKS
The Group currently has no knowledge of any industrial or environmental risk.
Ubisoft did not record any provision, purchase any insurance to cover potential environmental risks, or
pay any compensation in this regard during the financial year.
Nevertheless, the Company remains alert to regulatory changes in countries where it is present.
The Group, since it does not manufacture the video games it publishes and distributes, does not have
a significant impact on the environment. However, this is an integral part of Company policy and has
become an issue in itself. These elements are more accurately presented and detailed in the
"Sustainable Development" part of this report.
1.7.6 INSURANCE AND RISK COVERAGE
The policy of insuring the Group aims to protect it against the consequences of certain potential and
identified events that could have an adverse effect on it. This policy falls under the general scope of
risk management, downstream of prevention plans and business continuity plans.
The following are the principal areas covered by insurance:
corporate general liability and corporate officers,
property damage and, where appropriate, trading loss,
goods in transit,
vehicles,
employee health risks and employee benefits,
business travel,
expatriate cover,
etc.
Most of the policies currently in place are taken out locally at subsidiary level, taking account of the
specific nature of that subsidiary's activity and the country in which it is present, using brokers as
appropriate.
In the first part of financial year 2012, the Group conducted an audit of its insurance coverage on all of
its subsidiaries. Based on the findings of this audit, the Group initiated a second phase involving
market proposals for the creation of an international program. Under the proposals received on each
policy, the Group will decide during the year 2013 on the creation of such a program and its scope
and/or measures to harmonize local policies.
There were no major losses in the financial year 2012.
Total premiums paid on insurance policies valid during the financial year ended March 31, 2012
amounted to €971 thousand excluding credit insurance.