Risk Management

Risk management is the means by which businesses analyze, identify, mitigate and accept the uncertainty in their investment and business decisions. Any time you make a decision or take a step that involves the potential for loss, you need to understand those losses and do what you need to do in order to make sure that any loss you suffer is as minimal as possible.

You can’t go through business and achieve success without taking risks. Managing these risks doesn’t mean avoiding them. It simply means being prepared for any consequences that might arise should your risk take the wrong path.

Ineffective or poor risk management can carry serious consequences for your business. Many investors, for example, consider the housing bubble burst of 2008 the result of poor risk management and loose credit practices. In private business, you might, for example, want to take a look at the potential for employees or customers to get injured in your workplace, and prepare for the consequences to your business should that happen.

When you take a risk, you need to be prepared for the possibility of failure. If you aren’t prepared for this possibility, the consequences can be disastrous and even ruinous to your business.

Risk management is a multi-step process involving identification, analysis, control/treatment, and monitoring. Achieving a thorough, customized and form-fitting approach to managing business and personal risk doesn’t come about by accident. It’s important to have the support of professional and experienced Nevada risk management professionals in your corner.

At Harris Insurance Services, we can provide risk management in connection with insurance product purchases, or as a stand-alone, fee-based service. Just a few of the common services we provide include:

• Loss Control Overviews
• Insurance Classification Reviews
• Experience Modification Rate (EMR) calculation and analysis
• Safety Services
• Post Accident Review
• Total Cost of Risk Analysis
• Certificate of insurance compliance review and tracking
• Independent Insurance Program Analysis

We don’t believe risk management should be offered as a standard package. Rather, it should be tailored to your business and your individual procedures, practices, goals and objectives. That’s why, as an independent insurance provider, we work closely with every client to make sure the services we provide are customized for your needs

If you’d like to know more about what risk management is, how it can be improved in your business, and how to build a portfolio that works towards your goals, get in touch with us today.