Knowledge
Risk management is a dynamic practice challenged by diverse exposures, business operations and unique industries.
The practice of Risk Management involves many core competencies, including:
- Risk Assessment
- Risk Finance
- Risk Avoidance
- Risk Control
Risk Assessment professionals carefully evaluate your business operations and exposures affecting profitability. A Risk Identification Survey is completed to identify each potential risk within your organization. A Risk Analysis Survey is conducted to determine your associates’ familiarity with risks within their area of responsibility. A customized Risk Plan is established to meet your program’s needs. As each operative category is analyzed, risk are identified and their anticipated costs upon your company’s profitability are calculated. Your Risk Management Consultant coordinates these services in partnership with you.
Risk Finance professionals utilize the studies of your Risk Assessment to determine the best financial options available to insure your company against risk. These options may include large deductible insurance plans or captive insurance options. Your Risk Management Consultant can assist your organization in preparing and evaluating market bids (Requests for Proposals) for insurance brokers, agents, insurance companies and claims administration firms.
Risk Avoidance professionals are engaged for the purpose of evaluating potential risks inherent to your company’s business operations, including alternative business practices and decision-making prior to engaging in new ventures. Services include Due Diligence Analysis of a company’s operations prior to mergers or acquisitions. Your Risk Management Consultant can provide valuable assistance in determining the impact and risk involved in current corporate operations or potential new partnerships.
Risk Control involves the science behind risk management. Risk tracking, monitoring and control involves a wide array of safety services including fire safety management, OSHA compliance, fleet safety, and other valuable loss control services. Your Risk Management Consultant can help improve your company’s risk control practices, or implement mandated programs to help your organization achieve compliance with state and federal laws.
For more information, please contact us.