Risk Identification

Risk Identification is the process of thoroughly reviewing your business operations with the objective of identifying and examining the potential sources of losses that your business faces. These potential sources of losses are typically categorized into the four classifications of Liability, Property, Net Income and Human Resources. There are several methods of identification including Physical Inspections, reviews of Policies and Procedures, analysis of Insurance Policies, Identification and Analysis of Contracts, Net Income and Financial Analysis, Loss History review, Flowcharts, and Checklists.