Risk Management Overview

Risk Management Overview - One of the primary functions of an organization’s Board of Directors is to identify and then take steps to deal with issues of risk. In today’s world, all organizations face some risk, either internal or external, but most likely both. The issues discussed in these two documents are all matters that will be considered, to a greater or lesser degree, when applying for Directors & Officers Insurance, one of the typical methods of guarding against risk and minimizing its consequences.

Internal Risk – these arise in the day to day operation of the association and are largely controllable by it.

External Risk – these factors are less controllable by the association and require closer monitoring and planning to compensate for, mitigate or reduce.

Taylor Enterprises

We can assist our clients in this area by conducting periodic risk reviews with the Board (at an annual retreat, etc.). The benefit to this type of analysis is that it gives you greater control over your continuing success and, literally, can help your Directors sleep better at night.