Posted on: September 30th, 2014 by The Accel Group | No Comments

What is Risk Management?

Insurance.  We all need it.  We all have it.  But why is it necessary?  That can be answered in one word: RISK.


Insurance companies and policies exist because of risk.  Risk of a car accident.  Risk of a natural disaster.  Risk of theft.  As humans, we can’t predict what will or will not happen to our home, cars, or businesses.


Why do I Need to Understand Risk?

Risk management exists to help identify and control risks business owners face and to what degree.  Understanding risk allows businesses the opportunity to prevent loss and control assets when loss occurs. The Accel Group is equipped with the proper knowledge, information and resources to assist in the process of preventing loss and protecting valuable assets when loss occurs.


A variety of different factors determine risk.  For business, homeowners and car insurance policy holders, the amount and type of risk defined by insurance companies varies.  In homeowners and business insurance, demographics and location play a major role in determining risk.


Does your company insure drivers and vehicles? Determining risk in auto insurance will help you determine the best type of car insurance protection to purchase and the amount needed.  Car insurance companies look at factors including driving history, demographics, and the amount of driving you do to determine risk.


Every car on the road runs the risk of an accident.  Factors such as distance of commute, location and the type of vehicle plays a role in the price and amount of car insurance needed.   From commercial auto insurance to small truck fleet coverage, The Accel Group can evaluate your situation and risk to help you choose an insurance company that best suits your car insurance needs.


What does Risk Management for Businesses Include?

For businesses, small accidents can cause big problems. The Accel Group is prepared to help clients prevent and control loss prior to an incident.  In fact, it’s our job to help you understand your risk through effective risk management and loss control programs.


Risk management practices may be the most important aspect of an organization’s safety and protection.  At The Accel Group, we serve as a liaison between businesses and their insurance companies to ensure the best protection possible. The Accel Group provides a variety of safety programs, resources and training materials help businesses best manage their individual risks.


Risk management for businesses from The Accel Group includes:

  • Safety program development resources
  • Training materials and toolbox talk topics
  • Lost history reviews
  • Large claim updates
  • Worker’s compensation recommendations

With so many different measures of risk  it’s important to seek the help of a professional to aid with risk management.  For more information about risk management for businesses, please contact The Accel Group here .