Risk Management

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

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

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

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 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:

Our Enterprise Risk Management partners