Risk is a word that gets thrown around a lot in the insurance world, but what does it really mean and can we really manage risk? Risk is at the essence of insurance, but insurance is not risk management. Risk management is a way of looking at the risk that exists, whether it is in an individual life, or in business, and finding a way to deal with it so that the results of risk can become a little more predictable or manageable. By the end of this session, you should be able to:

• Define risk and risk management
• Describe a process to manage risk
• Detail the place of insurance in the process of managing risk

Explore more in the Risk Management Basics series

• What is Risk and Risk Management
• How to Identify Risk
• Ways to Control Risk
• Ways to Finance Risk