Page 3 - RMA Brochure Blue new.cdr
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Introduc on



     Risk Management has assumed great significance in the global
     economic  scenario.  More  and  more  companies  are

     recognising the need of implemen ng the concept in their

     organisa on.  Most  of  the  insured's  are  ignorant  about  the

     importance of this vital aspect.
     Risk Management precedes insurance and if this concept is

     prac ced successfully a large amount may be saved by way of

     containing losses and thereby saving precious resources of our

     country.
     In western countries Risk Management is an important area

     which has a racted the a en on of Government, business

     houses, Scien sts, Individuals in forecas ng the imminent risk

     in  undertaking  any  project/work  and  taking  suitable
     precau ons to avoid or minimize the adverse impact of risk.

     However in India though the importance of Risk Management

     has been recognized but no concrete step has been taken to
     establish it as integral part of ac vity so that risks may be

     perceived in advance and suitable measures be taken to avoid

     it. A er the opening up of the Insurance Industry in 2000 due

     to extreme compe  on the concept of risk management is

     fading away. We will have to again develop an environment of
     Risk  Management  without  which  the  Insurance  Industry

     cannot exist and grow.

     Risk is omnipresent in all ac vi es we undertake. The only
     difference being the ability of the person to perceive the risk

     and manage it effec vely.
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