Insurance
Reciprocal 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 – 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, Segregation #4
How can segregating your risks reduce your overall risk profile?
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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