|
|
|
The Risk Management Process
- Essential First Step----Management Commitment
- Examine your operation
- Involve your employees
- Provide resources, interest, leadership and continued support
- Implement and continue a company-wide program
- Review Loss Financing and/or Insurance Protection
- Retention; Insurance; Transfer
- Review insurance policy coverage with your agent/broker to understand what is and is not covered
- Review policy schedules
- Review adequate limits of insurance
- Consider Loss Control
- Define accidents, incidents and insurance losses as operating problems and treat them as any other operating problem which hinders productivity and profit
- Identify hazards and dangerous conditions
- Techniques: Avoidance; Prevention; Reduction; Segregation; Transfer
- Appoint a Safety Manager or Committee
- Provide training, motivation, support, and resources to ensure success
- Identify the Exposures to Your Risk (People, Assets and Income)
- Surveys; Financial Statements; Contracts; Leases; Plans; Engineering; Asset Schedules; Site Inspections
- Analyze Risk and Measure Loss Potential
- Maximum probable loss
- Incurred but not reported
- Cost Benefit Analysis
- Select Appropriate Risk Mgt Tools and Techniques
- Implement the Plan
- Monitor the Progress of you Risk Management Program
- Reinforce employees’ participation in and individual responsibility for the overall risk management effort
|
|
