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TRUEPOINT INSURANCE GROUP, LLC
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The role of Insurance in Risk Management
What tools do you use most often as you manage your personal and/or business risk. For most American’s the answer is insurance. Risk Management is the science or process of identifying hazards, assessing there possible impact, and developing a comprehensive plan that will minimize the impact of all hazards that an individual or business might be exposed to.
The Insurance Information Institute is one example of an organization that has been established to improve the publics understanding of insurance and its role in risk management.
Another alternative in risk management is called avoidance or risk avoidance. This can be done by totally avoiding a hazard such as selling a home to remove the risk of fire associated with owning the property.
Along with insurance companies, there are several organizations that have been established to help consumers better managing risk. One example would be Insurance Institute for Highway Safety.
What tools do you use most often as you manage your personal and/or business risk. For most American’s the answer is insurance. Risk Management is the science or process of identifying hazards, assessing there possible impact, and developing a comprehensive plan that will minimize the impact of all hazards that an individual or business might be exposed to.
The Insurance Information Institute is one example of an organization that has been established to improve the publics understanding of insurance and its role in risk management.
Another alternative in risk management is called avoidance or risk avoidance. This can be done by totally avoiding a hazard such as selling a home to remove the risk of fire associated with owning the property.
Along with insurance companies, there are several organizations that have been established to help consumers better managing risk. One example would be Insurance Institute for Highway Safety.