Risk Management
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 – #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 MoreInsurance Broker 20% Commission
How do you negotiate the commission/fee with your insurance broker?
Read MoreManaging Water in a Strata/Condo
If you want to manage risk, you have to figure out what risks (or perils, as they say in the insurance business) you have. You might think that fire, or general liability risks (e.g. the slips, trips and falls type of claim) are the biggest risks but water escape is a frequency risk that can…
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