Risk Management

"The first step in the risk management process is to acknowledge the reality of risk. Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning." - Charles Tremper

Risk Management can best be described as the identification, assessment, and prioritization of risks, followed by the coordinated and economical application of resources to minimize, monitor, and control the probability and impact of unfortunate events. Top rated companies have top rated risk management programs and processes, and that's not by accident. Many other businesses, some succesful, have either informal or no risk management programs, instead relying upon a combination of sheer luck, half measures, and the best of intentions.

The risk management professionals at Business Insurance Associates, Inc. have the experience, resources, and foresight to work closely with a broad range of industries when it comes to building, developing, formalizing, analyzing or reviewing risk management processes and procedures. Contact one of our account executives at (907) 274-4142 and request a no-cost, no-obligation risk exposure analysis.

Current clientele of Business Insurance Associates, Inc. should log into the client portal for risk management reports, analysis, resources, information, strategies, links, articles and more.

Risk Management Models

While there are hundreds of risk management models customized for specific industries and entities, most share common risk management elements of the process in one form or another, that include the identification of risk, assessment of risk, development of risk management strategies, implementation of those strategies, and reviewing the effectiveness of those strategies. Several different examples are provided below.