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Risk management savings vs. sensibility

A more strategic approach to risk management questions can both enhance the organizations protection against extreme events, while transferring risk in reasonable and cost-effective ways.

By Laurie Champion | Updated on August 15, 2016
A more strategic approach to risk management questions can enhance the organization’s protection against extreme events while transferring risk in cost-effective ways. (Photo: Shutterstock)

I’ve been helping the executive team of a middle market enterprise consider its risk management options during a period of change and uncertainty.

This privately held company enjoys the benefits of long-term employees, loyal customers and an industry-leading brand. However, after several years of rapid growth fueled by long-term customer contracts, technical innovation and high quality customer service, it has outgrown its former risk management model and needs to develop new ways of identifying, understanding, managing and insuring its risks.

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