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The Yellow Brick Road to Risk Management
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mcavanaugh1
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mcavanaugh1,
User Rank: Moderator
11/19/2020 | 9:09:23 PM
Risk Transfer & Risk Management
One portion of a comprehensive Risk Management program that you are forgetting is Risk Transfer. Risk Transfer is just as vital to the success of a Risk Management program as the implementation of any software platform or roll-out of a framework. 

It is impossible to remove all of the risks in any activity without completely avoiding it however the risk can be managed by mitigating the risk where possible and transferring the risk where it cannot be mitigated or avoided. The primary way to transfer that risk is through an insurance policy designed to cover that exposure.

Utilizing a comprehensive insurance program (Cyber, CGL, E&O, etc...) to transfer the risk is just as important as any piece of software.

 


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