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Risk Management Blog

Get a read on risk.

There are many blogs out there, so what makes ours so special? Quite simply, if you want to deepen your understanding of risk management, every article herein will be worth your attention.

Designed by our experts to offer practical tips and techniques to elevate risk management and its influence on an organization’s performance; this is good stuff. And because we all know that data is the new gold, you’ll find plenty of insight into capturing and leveraging risk data to your organization’s advantage.

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7 Tips on How to Control Your Organization's Insurance Costs

Organizations are constantly searching for opportunities to reduce insurance costs. Companies need to view their role in the insurer/insured relationship differently. The insurance company isn’t selling you insurance; you are selling them your risk. Don't let them assume what you do and what your risks are.

By providing detailed risk management plans, including your organization's ability to produce and implement trend analysis reporting, your organization is promoting its proactive and risk-conscious environment. When history is unknown, or the internal approach is more reactive than proactive, insurers will typically err on the side of caution. This frequently translates into higher premiums and more restrictive coverages and limits.

Follow these tips below to get the best insurance for your organization:

3 Important Factors to Consider When Tracking Near Miss Incidents

Does your organization have a process and program enabled to report on near misses easily? Are corrective actions being implemented to lower the frequency and severity of future occurrences? Are employees risk sensitive?

A near miss is an unplanned event that did not result in injury or damage - but had the potential to do so. When only reporting claims and omitting near misses, your organization is not getting the full picture of potential hazards.

Product Recall: How Your Business Can Prepare

Product recall is a terrifying phrase for both manufacturers and retailers. If not handled properly, it has the ability to destroy brands and bankrupt companies. With the ability to have such a detrimental impact, you would think that most companies have an effective product recall plan in place. However, many companies are not prepared to handle a large product recall incident. 

5 Tips to Manage Employee Risk

In Canada, bodily exertion and contact with objects and equipment are the top two events that cause employees to miss work. Risk assessments can be used to protect both the safety of the employees and the security of the business or organization.

In industries where heavy machinery and intense labor are required, it's important to take extra measures to thoroughly manage the risks that can put employees in danger.

The Manufacturing Supply Chain: Top 10 Risks to Consider

The risks that impact the supply chain of manufacturers are continuously growing and changing. The supply chain is vulnerable to countless risks such as supplier relationships, manufacturing processes, shipment of finished products, and more. When conducting a risk management plan for your business, there are many major risk factors that are completely out of your control.

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