Risk Management Practices
We work to embed pro-active and sound risk management practices into our business processes, and we strive to ensure that we manage risks effectively across the entire organization to support our purpose, Creating Trust in Mobility.
Our approach is to design risk management methods and processes which helps us to deliver on our business priorities as well as to support our work to achieve set objectives. Some elements of the risk management framework provides information that is relevant also to our sustainability program.
We believe that to have effective risk management practices in place enables us to meet stakeholder expectations and to uphold our standards and codes.
Crisis Management and Business Continuity
Despite proactive approach to risk management our company can suffer a crisis, an abnormal and unstable situation that threatens an organization’ s continued existence. The priority of Veoneer crisis management practices is to minimize harm to people, to the environment, and to minimize the damage on our financial condition, operations and reputation.
Insurance
Insurance is a risk management tool that we view as the financial protection of a risk. Veoneer has tailored insurance programs that transfers the risks associated with the company’ s property and liability exposures. Regular risk evaluations are made to our sites supported by a loss prevention guidance.
