“What gets measured, gets managed!” This statement is the fundamental principle behind the concept of “Total Cost of Risk.” But what exactly is TCoR, and why should you as a risk manager care about it?
There is risk associated with everything we do in life. But in today's world, business risk must be quantified, including the expense of preventing events from happening in the first place.
The purpose of any risk management program is to control enterprise-wide risks, which will ultimately lead to a reduction of the total costs associated with these exposures.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
