Risk Management: What Is It? Will It Help My Company?
Risk Management is the continual process of identifying, analyzing, evaluating and treating loss exposures, and monitoring risk control and financial resources to mitigate the adverse effects of loss. Loss may result from the following:
- financial risks such as cost of claims and liability judgments
operational risks such as labor strikes
perimeter risks including weather or political change
- strategic risks including management changes or loss of reputation
Although accidental losses are unforeseen and unplanned, there are methods which can make events more predictable. The more predictable an event, the less risk is involved since the occurrence can be prevented or mitigated; or, at minimum, expenses can be estimated and budgeted. It is this process to make loss more predictable that is at the core of insurance programs. Join us for March's Safety Academy as we explore Risk Management principles and how they can help your organization.
Attendees enjoy complimentary hot breakfast buffet and parking. If you are interested in attending, contact Jim Greaves, Catto & Catto Director of Risk Management Services.