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Risk Management

Minimising Threats and Maximising Opportunities

Our team can implement risk analysis and risk management as a process that allows an institution's risk events and overall risk to be understood and managed proactively, optimising success by minimising threats and maximising opportunities and outcomes.

Avoidance
We always look at financial avoidance, which is a method for mitigating risk by not participating in activities that may incur the loss of revenue, review of the portfolio, and updating accounts.

Retention
Age retention of assets is an example of avoidance, retention is the acknowledgement and acceptance of a risk as a given. Usually, this accepted risk is a cost to help offset larger risks down the road.

Sharing
Sharing risk is often implemented with Joint ventures that allow the companies to pay a portion of said agreement. The understanding is that with more participants sharing the risks, the costs of premiums should shrink proportionately. Individuals may find it in their best interest to participate in sharing the risk by choosing the right agreeable insurance plan for both parties.

Loss Prevention and Reduction
This method of risk management attempts to minimize the loss, rather than eliminate it. While accepting the risk, it stays focused on keeping the loss contained and preventing it from spreading.

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