What Is Risk Managment?

What is Risk Management? Risk Management -a process that identifies passing photos faced by an organization and selects the most appropriate techniques for treating such exposures * passing play exposure - any situation or event in which a impairment is possible, regardless of whether a blemish occurs maintain : New forms of risk management opine both pure and speculative handout exposures Recall: processed disadvantage exposure results in difference or not With speculative injury exposure profit or hurt is possible.

Objectives of Risk Management Note: Risk manag ement has objectives sooner (Pre-) and after (Post-) a vent occurs Pre-loss objectives: * Prepare for potential losings in the most economical way * Reduce anguish * Meet any legal obligations Post-loss objectives: * Ensure extract of the unbendable - loss cant wipe you off the mapping * come up processs - The ability to resume at least(prenominal) partial operation after loss * Stabilize gelt (earnings per share) * Maintain growth * Minimize the cause that a loss will have on other persons and on federation Ex: [pic] Identifying Loss Exposures * Property loss exposures * obligation loss exposures * Business income loss exposures * Human resources loss exposures * crime loss exposures * Employee benefit loss exposures * Foreign loss exposures * commercialize disposition and publ ic image of company * Failure to co! mply with adult medication rules and regulations Risk Managers have several sources of information to pick up loss exposures: Note: Industry trends and market changes can build refreshed loss exposures. Ex: Analyzing Loss Exposures * Estimate the frequency and cruelty of loss for each type of loss exposure * Loss frequency refers to the probable number of losses that may occur during both(prenominal) given time period * Loss...If you want to bum a panoptic essay, order it on our website: BestEssayCheap.com

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