Our experience in the risk and insurance industry has highlighted the fact that many companies do not have adequate procedures and protection in place to protect the company against potentially unidentified or unexpected events. Not all risk exposures are insurable and an unidentified exposure could have serious financial implications on the operation and survival of the company.
Business Risk Profiling is a systematic approach to risk management which identifies risks, quantifies them in terms of likelihood and consequence, and identifies measures to control or eliminate them from the business. The risk profiling exercise will assist in developing and enhancing the risk register which will identify how the company manages the identified risk exposures. The risk register will be a valuable tool for the business units, management and the board.
ToleHouse can assist by working alongside key company personnel to evaluate the extensive operational and strategic company risks with a view to creating the risk register.
Elements of risk that may be included in the business risk profiling exercise are: