Description

Independent insurance agents are at their best when they assist their clients in making sound risk management decisions. In order to do so, you need to have a fundamental understanding of the risk management process. The steps in the risk management process are as follows:

• Step 1 – Understand the Client’s Financial Objectives
• Step 2 – Identify Potential Loss Exposures
• Step 3 – Analyze the Loss Exposures
• Step 4 – Select the Appropriate Risk Management Technique
• Step 5 – Implement the Decision
• Step 6 – Monitor the Result