Page 7 - Risk Management Bulletin April-June 2022
P. 7

RMAI BULLETIN APRIL - JUNE 2022






             SYSTEMATIC




             REVIEW OF BEST




             PRACTICES IN





             RISK




             MANAGEMENT

















             Risk and Risk Management                         prepare for the unexpected by minimizing risks and
                                                              extra costs before they happen.
             Risk implies future uncertainty about deviation from
             expected earnings or expected outcome. Risk refers to
                                                              Risk management has developed in recent years into
             the probability that an undesirable event, situation or
                                                              an accepted discipline, with its own language,
             condition will occur. And Risk management is the
                                                              techniques, and tools.
             process of identifying, assessing, and controlling
             threats to an organization's capital and earnings.
             There are many unexpected and harmful risks and
             events which every business or organisations face.
             They cause loss and can even become the reason for
             closure.


             Risk management allows organizations to attempt to
                                About the author

                           Shaik Gulam Fazal Biya Bani
                           Re-Insurance Processor,
                           Gulf Union Corporative Insurance
                           Company- Saudi Arabia


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