What type of risk is your business exposed to?
In a sentence risk management is the process of measuring, or
assessing, risk and developing strategies to manage it.
inevitable in everything we do, the aim of a pro active risk management
strategy is to reduce or remove the uncertainties that can threaten
the achievement of your business objectives. There are four key
elements to consider:
- Identifying the risk
- Measuring the risk
- Considering the probability of the risk
- Controlling the risk
- By removal of the risk
- By reducing the risk
- By accepting the risk
Any risk management programme should be seen
as a continuous process and can be applied equally to all areas
of an organisation from basic Health & Safety procedures on
a production line to claims analysis of a vehicle fleet. What is
certain is that insurers favour businesses that take a proactive
approach to risk management and such a programme will inevitably
reduce insurance costs.
In addition to our own in-house knowledge
we have associations with specialist Health & Safety consultants
and Business Continuity experts who can provide solutions to specific
and sometimes unique risk management conundrums.
business Stanmore can help you tailor your risk strategy so please
contact us to discuss your specific requirements.