Posts by Risk Management 101
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Read MoreReciprocal Insurance – General Information and Definitions
Introduction Insurance is a way to protect the assets you own from potential financial losses. Usually, this takes the form of an insurance policy between you and an insurance company whereby you pay a premium in advance in exchange for the company’s promise to pay for a specified loss at a later date. The insurance…
Read More8 Non-Financing Risk Control Methods – #1 Avoidance
8 Non-Financing Risk Control Methods Author: Darius Delon, MBA FCIP CCIB RIMS-CRMP In the dark ages (300 years ago), risk management’s primary tool was insurance – buy enough of it until you feel good enough to sleep well at night. Good tool to use before the 1950’s and the expansion of risk management. Today…
Read More8 Non-Financing Risk Control Methods – Prevention
Author: Darius Delon, MBA FCIP CCIB RIMS-CRMP President, Risk Management 101 We know to not use the risk avoidance technique unless we absolutely have to. What does preventing a risk really mean – frequency reduction. We know, as a non-statistical rule of thumb, that a catastrophic loss risk will occur once, there will be 10…
Read More8 Non-Financing Risk Control Methods, #3 Reduction
How does risk reduction improve your company performance?
Read More8 Non-Financing Risk Control Methods, Segregation #4
How can segregating your risks reduce your overall risk profile?
Read MoreProviding Risk Management Comment for Media
Canadian Underwriter Resilience Should be the Goal of all Organizations https://www.canadianunderwriter.ca/catastrophes/resilience-should-be-a-goal-of-all-organizations-1004099922/
Read MoreBusiness Continuity in the Age of Pandemic Covid-19
The Emergency Operations Centre has been activated, the Business Continuity Plans have been dusted off and the Crisis Communications Plan has been exercised. Social distancing means your staff are working from home, students are trying to study at school (remotely – with various effectiveness), and essential services are adapting to the new business model –…
Read MoreOrganization Objectives – During COVID-19
All organizations, world-wide, have been hit with significant disruptions to their business due to the lockdown associated with COVID-19. Some business are thriving (Amazon, UPS, Microsoft) while others languish. Where is your business in the chart below? Are you still in survival mode a month or more after lockdown? Have you continued operations or diversified…
Read MoreInsurance Broker 20% Commission
How do you negotiate the commission/fee with your insurance broker?
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