Insight
Vision
Focus

St. Catharines,
Niagara
Ontario, Canada

Robert Harder Consulting Group Inc.

Risk Management and Insurance

"Risk Management is the practice of protecting an organization from financial harm by identifying, analyzing, and controlling risk at the lowest possible cost."

The Risk Management Process

• Identify the Exposures to Risk (People, Assets & Income)
• Surveys
• Financial Statements
• Contracts, Leases
• Plans
• Engineering
• Asset Schedules
• Site Inspections
• Analyze Risk and Measure Loss Potential
• Select the Appropriate Risk Management Tools & Techniques
• Implement The Plan
• Monitor the Plan; Change and adapt as required.

Risk Management Tools & Techniques

• Loss Control - (Pre Loss)
• Avoidance
• Prevention - Frequency
• Reduction - Severity
• Segregation
• Separation
• Duplication
• Transfer (Non Insurance)
  
   
• Loss Financing - (Post Loss)
• Retention
• Unplanned; ignorance, remote loss
• Planned
• Captive
• Funded Reserve
• Unfunded Reserve
• Current Expensing
• Insurance
• Transfer, e.g. Industry Group