Managing Risks 2 – Risk Management Policies

Abstract

Businesses face a much greater range of risk than is generally appreciated. Many can be guarded against by insurance, but it must be remembered that insurance premiums can be heavy — particularly if ‘no claim’ discounts are lost. Both the risk — and the insurance premiums where these apply — can be greatly reduced by taking wise precautions beforehand. Even pre-planning what should be done if they occur can substantially reduce the loss and suffering.