Risk Management is defined by the National Alliance for Insurance Education and Research as “The process of protecting and organization’s assets through exposure identification, exposure analysis, controlling exposures, financing losses with external and internal funds, and the implementation and monitoring of the risk management process. The focus of the process is two-fold:
1) Protect the assets of the organization
2) Protect the financial statements of the organization.
Does that sound like buying insurance? Absolutely not! The most successful organizations of any size understand that the purchase of an insurance product is only a small piece of the overall risk management process. At Reed Insurance, we have adopted and implemented a Risk Management approach when engaging with clients and prospects.
While insurance is certainly a necessary portion of the Risk Management Process, it is not the end game. The focus should be exactly as it is stated above: Protect the assets and Protect the financial statements.
Whether you are a start-up or a seasoned middle-market company, we have the tools, resources and experience to help your organization develop and execute a Risk Management Plan.
We do this in tandem with the leadership of your organization through focusing on the following:
- Risk Management Audits
- Safety Programs
- TCOR – Total Cost of Risk
- Accountability Programs
- Training & Development