Enterprise-Risk Management is broadly defined as the “identification, analysis and economic control of all threats to the achievement of an organization’s strategic and operational objectives”.
GENUITY’s risk management offering is geared for the commercial market. Our suggested approach is to first identify your risks so that they can then be analysed (sources / severity/ probability) in order to be managed (controlled / funded / transferred / mitigated).
Implementing a risk-management program may seem like an extravagant policy for a small business to consider, yet such a plan has a place from business planning through insurance to operations planning.
Enterprise-Risk Management programs provide both the strategic basis and the operational framework for handling crisis within your company, as well as providing a parent policy for crisis management.