Insurance Bureau of Canada embraces Risk Management

While still (and understandably) approaching risk from a discernibly insurance -centric perspective, it’s refreshing to see our colleagues at the Insurance Bureau of Canada embracing a more holistic approach to Risk Management.

As I wrote in a previous article, Risk Management is NOT insurance. It remains, however, a vitally important risk financing tool.  Along with other strategies, it can mitigate the negative effects of a loss by paying for many of the associated costs, and keeping you in business. Continue reading “Insurance Bureau of Canada embraces Risk Management”

Risk management is NOT insurance

Now before insurance people get too excited, let me say that insurance is usually a very important part of an overall strategy of risk management. Insurance, however, is only one of a suite of treatment options available to organizations wanting to manage the uncertainty associated with achieving their goals and objectives. You might say insurance is part of risk management, but risk management is a whole lot more than insurance. Continue reading “Risk management is NOT insurance”