RISK MANAGEMENT BLOG

4 Types of Data Analysis for Risk Managers (Infographic)

3 Smarter Ways to Reduce Commercial Insurance Costs

Insurance is essential but costly. Every organization needs it, or they risk shutting down in the face of a crisis they can’t recover from.

Even so, insurance premiums come with a hefty price tag. Smaller organizations may feel that insurance coverage is out of their reach while large corporations must control the hundreds of claims they face per year. Either way, all organizations must find a way to reduce their insurance costs to ensure they can protect themselves without spending too much money.

Topics: lower insurance costs risk analysis reduce insurance premiums commercial insurance business insurance

8 Reasons to Implement a Fleet Loss Prevention Program

Loss control is a management priority whether a fleet is large or small. A Fleet Loss Prevention Program can decrease insurance claims and help mitigate the frequency and severity of future losses. Often the other tangible and intangible benefits of these types of programs can be overlooked, but are just as valuable to your company!

Topics: risk mitigation plan Risk Management Software incident management software claims management software Benefits of Fleet Loss Prevention Fleet Loss Prevention Program Loss Prevention ROI municipal fleet management Sample Fleet Loss Prevention Program lower insurance costs

9 Steps for a Smooth Risk Management System Implementation

You’ve recognized the need for a risk management system, evaluated vendors’ products, and chosen the system that’s best for your organization. It may seem like the work is done, but there’s still a significant challenge ahead: the implementation of the system.

This step is arguably the most important: failure to smoothly implement a risk management system will make it much harder to achieve success. Before beginning implementation, consider the following advice:

Topics: risk management system implementing risk management begin managing risk smooth system implementation

8 Ways to Identify Risks in Your Organization

Even if you don’t realize it, you’re probably employing some kind of risk management in your organization. Over time, you develop procedures to make sure things don’t go wrong and put plans in place to reduce organizational impact if they do.

Creating a risk management plan is simply about formalizing that process and being able to devote your resources more effectively. The first step in this process, and one of the most important, is identifying your risks.

You will need to make a list of all the specific risks that could impact your organization. This can be a daunting task, especially for new businesses that don’t have years of experience and history to rely on. Fortunately, there are some strategies you can turn to for help:

Topics: Risk Management Process identifying risk identifying risks that threaten a company how to identify risk business risk management what are my risks

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