Risk Management

 Risk Management

‘Risk management’ is a term which is used with different meanings:

(a) in the world of banking and other financial services outside insurance, it is

probably used with reference to investment and other speculative risks (see

(a) above);

(b) insurance companies will probably use the term only in relation to pure

risks, but they may well restrict it even further to insured risks only. Thus,

when insurers talk about ‘risk management’, they could well be referring

to ways and means of reducing or improving the insured loss potential of

the ‘risks’ they are insuring, or being invited to insure;

(c) as a separate field of knowledge and research, risk more...