Risk Management by Diana J

Discussion on Module 2 (Risk Management

nizadi — 2017-05-26 02:48:55 UTC

You mare share your thoughts and opinions here. Happy discussing!

hai

2017-09-07 07:42:52 UTC

Loss exposure

2017-09-25 06:46:45 UTC

Defective products is an example of liability loss exposures.

Risk Management

ubauba66 — 2017-09-29 13:39:47 UTC

The first step to defining risk management goals and risk management objectives is to define your organization's shared vision. ... While a vision statement is often aspirational, the goals and objectives should ordinarily describe in simple terms what is to be accomplished. They should be actionable by the organization.

loss reduction

2017-10-02 23:41:02 UTC

e.g-installing an automatic sprinkler system

Risk management matix

2017-10-03 02:32:35 UTC

1.Frequency low, severity low(retention)
2.Frequency high, severity low(loss prevention and retention)
3.Low frequency, high severity(transfer)
4.High frequency, high severity(avoidance)

Risk Management is a process that identifies loss exposures faced by an organisation and selects the most appropriate techniques for treating such exposures.

2017-10-03 16:01:13 UTC

Risk Financing

2017-10-03 20:16:23 UTC

- retention
- noninsurance transfers
- commercial insurance

Risk control

2017-10-03 23:37:05 UTC

-Avoidance
-Loss prevention
-Loss reduction

Sources of production risks

2017-10-04 02:11:44 UTC

The major sources of
production risks are
weather, climate changes,
pests, diseases, technology,
genetics, machinery
efficiency, and the
quality of inputs.

avoidance is the appropriate risk management technique for high frequency of loss and high severity of loss

2017-10-04 07:48:06 UTC

Insurance is only one of many risk management techniques. Treat them (risks) like your life. Need to be very aware and conscious with any probability that might strike us in the future. Risk can be a tiger that looking straight at our eyes OR it can be our close, harmless and friendly friend that can back-stab us at any given opportunity. Deal with them wisely!

2017-10-07 03:48:03 UTC

There are four steps in the risk management process such as

2017-10-21 12:08:35 UTC

i)identify loss exposures
ii)measure and analyze the loss exposure
iii)select the appropriate combination of techniques for treating the loss exposures
iv)implement and monitor the risk management program

risk management

2017-10-22 06:38:09 UTC

the process of identifying the loss exposures that faced by an organization and select the appropriate technique to treat such risk

Objectives of Risk Management

2017-10-31 13:48:18 UTC

1.Pre-loss objectives
2.Post-loss objectives

risk management is important for an organisation as it help to figure out appropriate ways to treat losses that could happen to a firm. its also an on-going programme which monitor and review every selection it has made so its suitable with current situation

2017-11-14 03:03:47 UTC

Risk management is important for a firm to treat losses with proper ways on how losses could be overcome

2017-12-01 05:12:15 UTC

objectives of risk management is

2017-12-15 12:50:35 UTC

1.) pre-loss objectives
2. ) post loss objectives such as continues the firm earnings

Chap2 - Methods for paying retained losses that can be taken :-

2018-03-22 16:50:31 UTC

1- current net income ( by using this method, losses are treated as current expenses )
2-unfunded reserve( loss are deducted as bookkeeping acc) #katsinixfhmsikit
3-funded reserve ( loss are deducted from a liquid fund)#hahaygnipun
4-credit line( as losses are occured , then funds are borrowed to pay them)

Risk management also faces difficulties in allocating resources. This is the idea of opportunity cost. Resources spent on risk management could have been spent on more profitable activities. Again, ideal risk management minimizes spending (or manpower or other resources) and also minimizes the negative effects of risks.

2018-04-06 04:07:17 UTC

Social benefits of insurance:

2018-04-06 06:45:20 UTC

-Indemnification for loss
-Reduction of worry and fear
-Source of investment funds
-Loss prevention
-Enhancement of credit

pre-loss objectives

2018-04-06 08:05:38 UTC

- survival of the firm
- to continue operating
- stability of earnings
- continued growth of the firm

Pre-loss objectives :

2018-04-07 17:43:29 UTC

- prepare for potential lossesin the most economical way
- reduce anxiety
- meet any legal obligation

Method control loss

2018-04-08 08:27:18 UTC

1)loss control
2) loss financia

Technique

2018-04-09 17:40:15 UTC

Techniques for treating the loss exposures:

2018-04-09 17:40:18 UTC

Risk Control
* loss reduction
* avoidance
* loss prevention

Risk financing
- retention
- commercial insurance
- non-insurance transfer

objective of risk management

2018-04-12 09:25:21 UTC

pre

Objective of Risk Management

2018-04-14 11:08:05 UTC

1) Pre-loss objectives
2) Post-Loss objectives

Objectives of Risk Management

2018-04-14 11:10:25 UTC

1) Pre-loss objectives
2) Post-loss objectives

Objective of risk man

2018-05-04 00:37:52 UTC

i) pre loss
ii) post loss

2018-05-13 04:21:13 UTC

post-loss objective

1. survival of the firm
2. continue operating
3. stability of earnings
4. growth of firm
5. social responsibility is to minimize the effects that a loss will have on other people and on society

pre-loss objective
1. prepare for potential losses in the most economic way
2. reduction of anxiety
3. meet any legal obligation

2018-05-13 04:24:35 UTC

loss reductionlos e.g-installing an automatic sprinkler system Risk Management ubauba66 8mo Risk Management The first step to defining risk management goals and risk management objectives is to define your organization's shared vision. ... While a vision statement is often aspirational, the goals and objectives should ordinarily describe in simple terms what is to be accomplished. They should be actionable by the organization. Loss exposure Anonymous 8mo Loss exposure Defective products is an example of liability loss exposures. hai Anonymous 8mo hai Discussion on Module 2 (Risk Management Diana J 12mo Discussion on Module 2 (Risk Management You mare share your thoughts and opinions here. Happy discussing!

Steps in the risk management process

2018-05-28 03:00:50 UTC

1 step: Identify the loss exposures.
2 step: Measure and analyze the loss exposures.
3 step: Select the appropriate combination of techniques for treating the loss exposures either by using risk control or risk financing.

Methods of risk control :

2018-06-03 09:48:23 UTC

a) Avoidance
b) Loss prevention
c) Loss reduction

Risk management

2018-06-06 15:55:49 UTC

A process that identifies loss exposures faced by an organization and select the most appropriate technique for treating such exposures

Methods of risk financing :

2018-06-12 15:30:34 UTC

a) retention
b) non-insurance transfer
c) insurance

risk control

2018-06-22 18:20:16 UTC

techniques that reduce the frequency and severity of losses

Loss exposure is any situation which a loss is possible, regardless of whether a loss occurs

2018-06-23 03:40:04 UTC

Why Risk Management Awareness?

2018-09-22 08:59:18 UTC

•Can’t take chance of your association suffering a loss•If a loss is perceived as an accident that couldn’t have been anticipated, you’re lucky. •If you anticipate and then prevent or prepare for an accidental loss, you’re perceived as valuable—not just lucky

2018-09-23 09:23:28 UTC

risk management is a process that identifies loss exposure faced by an organisation and select the most appropriate technique to treat such exposure

Risk Management

2018-09-24 03:25:54 UTC

Risk Control -

i.Avoidance

ii.Loss prevention

iii.Loss reduction

Risk Financing

i.Retention

ii.Non-insurance transfers

iii.Commercial insurance

Objectives of Risk Management

2018-09-24 03:41:12 UTC

Pre-loss Objectives
-prepare for potential losses in the most economical way
-reduce anxiety
-meet any legal obligations

Post-loss Objectives
-survival of the firm
-continue operating
-stability of earnings
-continued growth of the firm
-minimize the effects that a loss will have on other persons and a society

risk retention

2018-09-26 01:26:19 UTC

Risk retention is a company's decision to take responsibility for a particular risk it faces, as opposed to transferring the risk over to an insurance company. Companies often retain riskswhen they believe that the cost of doing so is less then the cost of fully or partially insuring against it.

What is Risk Financing?

2018-09-26 01:29:54 UTC

Risk financing exists to address one vexing problem: how to align a company’s willingness to take risks with its ability to do so, an exercise best done within the context of one’s organizational objectives. Risk management, of which financing is an integral part, is the set of measurable and sustainable actions for reducing the effect of uncertainty on those objectives. The establishment of measurable metrics is a key step in an organization’s growth toward a fully mature enterprise-wide risk management program.

2018-09-28 03:37:43 UTC

Techniques for treating the loss exposures: Risk Control * loss reduction * avoidance * loss prevention Risk financing - retention - commercial insurance - non-insurance transfe

Techniques for treating the loss exposures:

2018-09-28 03:38:06 UTC

Risk Control
* loss reduction
* avoidance
* loss prevention

Risk financing
- retention
- commercial insurance
- non-insurance transfer

how do you even transfer risk???,

2018-09-29 03:01:50 UTC

avoidance is not suitable for all situation in order to manage risk

2018-09-29 07:41:14 UTC

PRE-LOSS OBJECTIVES

sitiaisyahnajwar — 2018-09-30 11:05:15 UTC

Reduce anxiety
Prepare for potential losses in the most economical way
Meet any legal obligations

POST-LOSS OBJECTIVES
Survival of the firm
Continue operating
Stability of earnings
Continued growth of the firm
Minimize the effects that a loss will have on other persons and on society

2018-10-01 22:29:23 UTC

In my opinion this chapter is pretty comple

Risk control

2018-10-04 10:05:23 UTC

Avoidance means a certain loss exposure is never acquired or undertaken,or an existing loss exposure is abandoned.

this chapter is very complete and helpful

2018-10-06 12:23:33 UTC

this chapter is very helpful

2018-10-07 02:49:42 UTC

...

2018-10-10 09:50:23 UTC

Techniques for treating the loss exposures:
Risk Control
1) loss reduction
2) avoidance
3) loss prevention
Risk financing
1)retention
2)commercial insurance
3) non-insurance transfe

Methods of risk control

2018-10-19 13:45:45 UTC

-Avoidance
-Loss prevention
-Loss reduction

Risk Management Process

2018-10-19 15:50:51 UTC

1) Identify potential losses
2) Measure and analyze the loss exposure
3) Select the appropriate combination of techniques for treating the loss exposures
4) Implement and monitor the risk management program

•Post-loss objectives:

2018-10-20 18:30:55 UTC

•Post-loss objectives:

–Ensure survival of the firm

–Continue operations

–Stabilize earnings

–Maintain growth

–Minimize the effects that a loss will have on other persons and on society

nice

2018-10-21 00:39:01 UTC

BENEFITS OF RISK MANAGEMEN

2018-10-22 02:54:58 UTC

- Enables firm to achieve its pre-loss and post loss objective easily
- A risk management program can decrease a firm's cost of risk
- reduction in pure loss exposures allows a firm to endorse an enterprise risk management program to treat both pure and speculative loss exposures

risk control divided into 3

2018-10-22 03:14:19 UTC

-avoidance
-loss prevention
-loss reduction

risk financing method

lailidinarazak — 2018-11-07 07:47:32 UTC

- retention
- non-insurance transfer
- commercial insurance

Appropriate Combination of Teechniques for Treating the Loss

2019-03-24 08:35:27 UTC

1) Risk Control
- Avoidance
- Loss prevention
- Loss reduction

2) Risk Financing
- Retention
- Non-insurance transfers
- Commercial insurance

Appropriate Risk Management Techniques

2019-03-24 10:15:05 UTC

1) Low loss frequency and Low loss severity == Retention
2) High loss frequency and Low loss severity == Loss prevention/Retention
3) Low loss frequency and High loss severity == Transfer
4) High loss frequency and High loss severity == Avoidance

Adverse selection

norakiya04 — 2019-03-24 14:11:35 UTC

2019-06-11 15:20:28 UTC

1) Risk Control
- Avoidance
- Loss prevention
- Loss reduction

2) Risk Financing
- Retention
- Non-insurance transfers
- Commercial insurance

4 steps in risk management process

2019-06-18 15:29:37 UTC

1. IDENTIFY LOSS EXPOSURE
2. MEASURE AND ANALYZE LOSS EXPOSURE
3. SELECT THE TECHNIQUE TO TREAT THE LOSS EXPOSURE
4. IMPLEMENT AND MONITOR RISK MANAGEMENT PROGRAM

Risk control

2019-06-30 09:44:48 UTC

- avoidance
Example: tsunami
- loss prevention
Example: CCTV
-loss reduction
Example : sprinkler system

Risk financing
- retention
-Non-insurance transfer
Example: contract
-insurance

2019-11-27 04:24:03 UTC

Risk Management

2019-12-01 07:39:04 UTC

Fathiah Yasmin binti Azli, CS1121

2020-06-05 17:44:14 UTC

explain the risk management pre-loss objective cost of risk

cminon — 2020-07-18 02:34:11 UTC

2022-06-30 04:50:35 UTC

helpful infos!

STEPS IN THE RISK MANAGEMENT PROCESS

2022-07-19 13:08:35 UTC

1) Identify potential losses
2) Measure and analyze the loss exposures
3) Select the appropriate combination of techniques for treating the loss exposures
4) Implement and monitor the risk management program

risk financing methods :

2023-04-11 16:38:46 UTC

Advantages
– Save on loss costs
– Save on expenses
– Encourage loss prevention
– Increase cash flow

Disadvantages
– Possible higher losses
– Possible higher expenses
– Possible higher taxes

2023-04-12 05:42:59 UTC

pre-loss objectives:

reduce anxiety
meet any legal obligations

post-loss objectives:

survival of the firm
stability of earnings

Risk financing methods can help us save on loss costs nut theres a possibility of higher loss

2023-04-12 06:37:40 UTC

2023-04-12 07:56:21 UTC

risk managemnt can help a firm reduce its cost of risk

Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These risks stem from a variety of sources, including financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and natural disasters.

2023-04-12 08:35:38 UTC

2023-04-12 08:37:11 UTC

Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These risks stem from a variety of sources, including financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and natural disasters.

risk management is a process of identifying and controlling threats to an organizations capital and earning. these risk stem from a variety of source , for example natural disasters and technology issues.

2023-04-12 08:48:10 UTC

Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These risks stem from a variety of sources, including financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and natural disasters.

2023-04-14 12:14:24 UTC

.

2024-03-18 14:02:28 UTC

This topic is very interesting

2024-03-19 23:05:58 UTC

OBJECTIVE OF RISK MANAGEMENT

PRE-LOSS OBJECTIVE

Prepare for potential losses in the most economical way
Reduce anxiety
Meet any legal obligations

POST - LOSS OBJECTIVE

Survival of the firm
Continue operating
Stability of earnings

step in risk management process

2024-03-20 08:35:14 UTC

identify potential losses
measure and analyze the potential loses exposure
select the appropriate techniques for treating the loss exposure
implement and monitor the risk management program

Risk management refers to any situation or circumstance in which a loss is possible, regardless of whether a loss actually occurrs

2026-05-02 06:51:10 UTC

Definition

2025858626 — 2026-06-04 14:16:31 UTC

Risk Management is a process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures