Enterprise Risk Management & Risk Assessment with LMBF

Risk management isn’t just an added measure for protecting your enterprise’s bottom line - it’s a necessity. LMBF’s experts help strengthen your enterprise risk management plan, which identifies, analyzes, and prepares your business for potential risks which could lead to major financial loss and serious downtime when left unaddressed. Better risk management also means your enterprise is more broaden your options among insurance carriers. Moreover, your insurance rates may be less with certain enterprise risk management efforts, like the implementation of physical security measures, employee and staff protocol and training, and more. Discuss with LMBF’s experts for our comprehensive enterprise risk management and enterprise risk assessment plans today.

Why Enterprise Risk Management

Physical Risks

Physical Risks

Depending on your business, you may face physical risks, which includes physical hazards like natural calamities, explosions, falling objects, fires, and even flooding. Risk management may include the installation of sprinklers and alarms, monitoring, and rigorous employee emergency event training.

Human Risks

Human Risks

Any enterprise with employees may be exposed to hazards involving human error, such as events such as theft, fraud, and embezzlement. Comprehensive enterprise risk management may include stringent account proecdures, thorough background checks, and rigorous employee training.

Liability Risks

Liability Risks

As our society has become increasingly litigious, any enterprise runs the risk of a lawsuit. Lawsuits can come in all forms - from basic slips and falls on business premises to claims of negligence resulting in serious financial loss. Your enterprise risk management strategy may include the implementation of waivers and contracts, strict staff training, and limited access to potentially hazardous sites on your business property.

  What risk management includes
  • Employee training
  • Rigorous screening and background testing
  • Physical security programs
  What risk management benefits
  • Your company’s bottom line
  • Your rates
  • Your reputability
  • Your productivity
  • Potential downtime

What is risk management?

A simple way to define enterprise risk management is that risk management is essentially the process of identifying, analyzing, and preparing, mitigating, or avoiding a potential risk. Risks may come in very different forms, ranging from human and physical risks to technological and strategic risks. When it comes to creating a comprehensive enterprise risk management strategy for your business, you might find that there’s a lot to handle at once. LMBF’s enterprise risk management experts can curtail the process and find you a strategy that fits.

Risk Management for Businesses of All Sizes:

No one enterprise will face the same severity, quantity, or even type of risks. The hazards your business faces are largely dependent on its industry, geographical location, the service it provides and/or products it produces, and more. A comprehensive risk management strategy for your business may cover a wide degree of exposures, but the exact plan you’ll need will vary by your business. LMBF’s enterprise risk management specialists can help any number of business sectors, including the following samples:
Financial Industry


  • Commercial banks
  • Insurance brokerages
  • Financial advisors
  • Accountants & bookkeepers
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Real Estate Industry

Real Estate

  • Estate agents
  • Real estate developers
  • Property management
More info
Construction Industry


  • HVAC construction
  • Commercial construction
  • Residential construction
  • Demolition
  • Electrical installers
  • Highway construction
More info
Maintenance Industry

Personal Services

  • Garage repair shops
  • Autobody stores
  • Auto servicing
More info
Education Industry


  • Online courses
  • Driving schools
  • Primary education
  • Universities
More info
Manufacturing Industry


  • Metal manufacturers
  • Autobody part manufacturers
  • Chemical manufacturers
  • Food manufacturers
More info
Transportation Industry


  • Airlines
  • Freight road transportation
  • Courier companies
  • Railways
  • Trucking companies
More info
Organizations Industry


  • Chairities
  • Organizations
  • Fundraisers
More info
Agriculture Industry


  • Hobby farms
  • Commercial farms
  • Beef farms
  • CBD plantations
More info
Entertainment Industry


  • Bowling alleys
  • Amusement parks
  • Theatres
  • Arcades
  • Minigolf
More info
Healthcare Industry


  • Occupational therapists
  • Counselors
  • Massage therapists
  • Dentists
More info
Retail Industry

Retail Industry

  • Liquor retail
  • Grocery retailing
  • Furniture retailing
  • Garden supplies retailing
  • Auto parts retailers
More info
Hospitality Industry


  • Hotels and motels
  • Travel agents
  • Lodging agencies
More info
Publishing Industry


  • Printers
  • Publishers
More info
Personal Care Industry

Personal Care

  • Hair salons
  • Weight loss services
  • Nail spas
  • Dry cleaners
More info
Wholesale Distribution Industry

Wholesale distribution

  • Agricultural machinery wholesale
  • Audio and video equipment retailers
  • Bakery product wholesale merchants
More info
Professional Services Industry

Professional Services Industry

More info

Our Enterprise Risk Management partners

Too few companies believe that the size of their enterprise merits having a comprehensive risk management strategy. Enterprise risk management is vital for businesses of all size, any sector, and with all unique obstacles. LMBF’s risk management strategists are some of the best in the industry and can help your enterprise secure its bottom line, reputation, and productivity with comprehensive risk management strategy. Get started by discussing with LMBF’s expert enterprise risk management advisors today.

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Want to Get Started on Your Enterprise Risk Management? Start by Discussing With LMBF’s Expert Risk Management Advisors Today.

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Enterprise Risk Management: Frequently Asked Questions

A: A business risk is defined as the probability of an event that could occur to your business and its respective consequences. Enterprise risk management is a strategy designed for your specific organization intending to mitigate, prevent, avoid, or transfer the risk of your business’ specific hazards. An example of “business risk” might be employee fraud.

A: Insurance is a component of risk management known as “transferrence.” Once risks have been identified, analyzed, and organized in accordance of severity and probability, enterprises must determine how to deal with risks. Insurance is a way of transferring risk, i.e., the risk of fire and its consequential repair and restoration costs (while it can be mitigated through various security strategies) can be “transferred” via the purchasing of an insurance policy.

A: Human risk may come in the form of the risk that is presented by employees and your organization’s workforce. Common human risks may include theft, fraud, and embezzlement, as well as injury or illness to employees. Enterprise risk management may include strategies to do background checks of your prospect employees and preventing loss of productivity and key employees through rigorous training and the training of backup personnel.

A: Ideally, there are three things your enterprise should look for when auditing its enterprise risk management strategies. Those include performance as compared to prior years and industry benchmarks, cultures and attitudes towards risk, and how risk informated is integrated into the decision-making process. This isn’t an exhaustive list as effectiveness will vary by enterprise and industry, so it’s advised to make tangible goals when determining a risk management strategy.

A: Any organization that wants to protect its bottom line can benefit from an enterprise risk management plan. Having a rigorous and comprehensive risk management strategy is just as important as purchasing any business insurance policy - and perhaps moreso, because even while insurance can pay out for claims, enterprise risk management can reduce or even prevent your odds of having to make a claim altogether.

A: Enterprise risk management and insurance go hand-in-hand to protect your business and ensure its productivity and profitability for years to come. While enterprise risk management works to identify your potential risks and manage their severity and/or likelihood, insurance acts as a fallback in the event that, despite our best efforts, the worst does occur. Enterprise risk management is important to ensure your business’ continued productivity, reputation, and security.