Risk management is the art of improving the quality of people and organizations. As basis for this there is always an inventory of risks that could jeopardize the continuity of your business . Based on this inventory, you can choose between different actions.
Basically there are five different solutions to risk issues:
The first three options are subject to more considerations about changing methods, prevention, adaptation and transfer conditions and delivery of the default risk. Insure, the fourth option, is primarily intended to protect the balance between profit and loss. Too much or improper insurance can be as unprofitable as taking irresponsible risk. A fiscal reserve, self-managed, is an underestimated method of damage financing. Knowledge of risk, damage, income- and corporate-tax, and of course insurance, can lead to profitable solutions.
In the case of damage an emergency response plan serves as a guide for your company. This plan clearly describes who performs which tasks. By quickly informing buyers and suppliers, you can limit or prevent so-called consequential damages.
In conclusion: effective risk management leads to financial gain. You prevent substantial damage. Risks become manageable and are therefore cheaper to insure. Ask our specialists to highlight your situation and see what you can save on your risk management.