Risk Management is the process of measuring, or assessing risk and developing strategies to manage it. Traditional risk management focuses on risks stemming from physical or legal causes (e.g. natural disasters or fires, accidents, death, and lawsuits). Financial risk management, on the other hand, focuses on risks that can be managed using traded financial instruments.
Risk Management and Insurance addresses the issues, interventions and controls associated with the identification, categorization, establishment of priorities, controls, safeguards, risk transfer, financing and protection capabilities for the organization.
The discipline of Risk Management addresses the following elements:
1. Risk Management
2. Risk Control
3. Risk Financing
4. Risk Analysis
5. Fundamentals of Insurance
6. Minimizing Insurance and Claim Costs
7. Claims Management
8. Workers’ Compensation Management
Risk Management and Insurance addresses the issues, interventions and controls associated with the identification, categorization, establishment of priorities, controls, safeguards, risk transfer, financing and protection capabilities for the organization. |
