Risk Management

Risk Management is a process that identifies, assesses and controls risk. Once risk is identified, resources are coordinated to minimize, monitor and control the probability and/or the impact of unfortunate events. Risk can be attributed to many factors such as the uncertainly of financial markets, project failures, legal liabilities, accidents, natural causes as well as deliberate attacks from an adversary.

The strategies to manage risk include transferring risk to another party, avoiding the risk reducing the negative effect of the risk, and possibly accepting some or all of the consequences of a particular risk.

A successful Loss Control/Risk Management Program is based on a successful partnership between ARONOV INSURANCE, INC., you and your insurance carrier. As a team, all parties must work together to protect you, your business, your assets and to minimize and prevent future loss.

We will provide you with technical advice, resources and assistance in developing, improving and monitoring an effective Loss Control/Risk Management program by:

  • Reviewing your current Loss Control/Risk Management program;
  • Analyzing loss data to identify specific areas which generate the greatest claim frequency;
  • Reviewing your current environment and operations, including your physical assets, personnel practices, contractual obligations and management practices;
  • Conducting visits to all locations to develop a risk profile and to define management and insurance carrier responsibilities;
  • Developing, improving, and implementing a Loss Control/Risk Management program with a written plan of expectations.  (This program will be consistent with your management style and easily implemented);
  • Establishing a meeting schedule to review and discuss safety and loss analysis reports with management and/or staff as required by your insurance carrier.