Risk Consulting (fly sheet)

Total Cost of Risk is the calculation used to measure the overall costs of a company’s Risk Management program. While management traditionally counts its financing costs (premiums) only, we encourage our clients to factor in related costs to arrive at the real total. Each factor contributes to the total cost, and reductions in any of the factors will result in an overall reduction in the total cost.

Proactive loss control and loss prevention can lead to a reduction in insurance costs. In fact, controlling losses at the source remains the most effective way to contain insurance costs. Risk management means the minimization of the cost of risk, which includes the cost of insurance, the cost of accidents and injuries, and the loss of productivity due to accidents. Every dollar reduction in total cost of risk goes straight to the company's bottom line.
 

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    Risk Consulting (fly sheet)Total Cost of Risk is the calculation used to measure the overall costs of a company’s Risk Management program. While management traditionally counts its financing costs (premiums) only, we encourage our clients to factor in related costs to arrive at the real total. Each factor contributes to the total cost, and reductions in any of the factors will result in an overall reduction in the total cost....2014-06-27T16:52:00-05:00Total Cost of Risk is the calculation used to measure the overall costs of a company’s Risk Management program. While management traditionally counts its financing costs (premiums) only, we encourage our clients to factor in related costs to arrive at the real total. Each factor contributes to the total cost, and reductions in any of the factors will result in an overall reduction in the total cost.Risk MitigationRisk Advisory Services