Follow these six simple steps to improve your overall approach to risk management
- Risk management adds value to your business, providing competitive edge and enabling informed decision making
- Financial benefits can include reducing absence costs and minimising insurance premiums
- Insurance is an important part of the risk management tool kit for middle-market companies
- Brokers’ assistance is valuable because dealing with a number of companies means that they see the big picture and can benchmark your risk performance against that of your peers
- Evaluating your risks in terms of likelihood and severity enables you to decide which to insure, which to self fund, and which to prioritise for risk management
- Measuring your organisation’s risk appetite is essential for confident decision making on risk treatment and insurance purchase
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