Risk is defined as a possible event or circumstance that can have negative influences on an organization.

TYPES:

• Hazard - liability torts, property damage
• Financial - pricing, asset, liquidity
• Operational - customer satisfaction product failure
• Strategic - competitors, social trends

MANAGEMENT OF RISK - STRATEGIES

Transfer risk to another party

Avoid the risk

Reduce the negative effect of the risk

Accept some or all of the consequence of a particular risk

You have your business plan, funding, marketing strategy and ready to launch your business.  You have assess the risk of starting your enterprise, weighed them and decided to launch.

If you treat the purchase of insurance as merely a procurement exercise, looking for the cheapest price, then you may have taken the first step towards business failure.

In this article, The Biggest Risks To Your Business, the writers identify the risks every businessperson should assess.  Each are directly tied to your insurance procurement decision.  

Make sure your risk management program provides you with the support required to be successful!!!

It is with great plesure that I welcome you to my website.  You can expect this website to contain current and relevant information about the insurnace industry and the changes it is and about to undergo.

Visit often!!!