Page 3 - RMA Brochure Blue new.cdr

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.