Adopting measures for economic control that either : a) Produce a measurable reduction in the cost of risk and / or, b) Reduce noticeably the possibility of catastrophe loss and / or, c) Help to ensure the companys survival whilst minimising the overall cost of risk control.'
Risk management in terms of skills, knowledge and opportunity offers a wider appeal than simply insurance which is just one link in the risk management process chain.
Managing risks within a company implies a threefold approach: Formal system of risk threat, Adopting measures for economic control, Establishing management responsibilities for risks
Insurable risk area includes: commercial risks, political risks, social risks, project risks, IT risks, military risks and personal risks.
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