What is Risk Management?
"Risk Management, is a broad term for the business discipline that protects the assets and profits of an organization by reducing the potential for loss before it occurs, mitigating the impact of a loss if it occurs and executing a swift recovery after a loss occurs. It involves a series of steps that include risk identification, the measurement and evaluation of exposures, exposure reduction or elimination, risk reporting, and risk transfer and/or financing for losses that may occur.
Enterprise Risk Management broadens the scope of risk management behaviors to include every significant business risk of the organization, comprehensively and systematically. It requires that all of these risks be considered in relation to each other to create a consolidated risk profile. It expands the scope of risk management practices beyond the physical and financial exposures discussed above to include issues such as long term strategies, competitor response, human capital, and operational exposures, to name a few."
"Copyright 2008 Financial Crisis: A Wake Up Call for Enterprise Risk Management, Risk and Insurance Management Society, Inc.
How can we help you?
RSC Services Available to Meet Your Organizational Needs
Risk Smart Consulting Inc. can examine an organization to identify what is needed to protect its assets and earnings in the event of a loss from external perils. We can assist organizations of all types in developing the most cost effective mechanisms for financing potential losses and reducing exposure to loss.
RSC can examine an organization to identify and quantify what it does, what it stands to lose in case of loss, and what is needed to protect its assets and earnings. More
RSC can review an organization's risk management programs and make recommendations regarding administration, loss control and financing mechanisms. More
RSC can develop specifications for marketing an insurance program and risk related services. We manage the marketing process, evaluate proposals and make recommendations on program selection and service providers. More
Choosing a Risk Management Consultant to meet your needs is important. We have worked with clients with a wide variety of needs and have the experience to assist you. More