Risk Management 101: Introduction

Welcome to The Byers Group!
We provide risk management, strategic solutions, and general counsel services to a wide range of clients in a variety of professional disciplines.

In order for our clients to have a better understanding of what we offer as a company, we have started a blog. Today we're starting a series laying out our business model. Over the next several weeks, we will break down all the aspects of risk management that we touch on. Before we begin all the details, we have laid out a general understanding in today's post. 

• It is important to remember that the greatest risk a company faces is one its management team does not know exists. That’s where The Byers Group steps in. We work with you to recognize your greatest facing within your company.

• Once we have met with a client, we will discuss a risk management plan specific to their needs. Our plan starts with the process set out below. This allows us to establish a specific goal in mind. 
• Identify Risks
• What are the risks?
• Establish a detailed risk identification process.
• Analyze the company's consistent work flows and processes.
• Assess Risks
• What is the likelihood of the risk occurring?
• How severe will the risk impact be?
• Mitigate
• Establish authority and responsibility.
• Define processes and procedures.
• Establish measures to mitigate at least the top priority risks.
• Protect the company against those risks deemed too large or damage too great to accept total loss upon occurrence
• Monitor/Review
• Has the situation changed?
• Are there new risks emerging?
• Ensure that there is continual communication

• The Byers Group is well versed and experienced in the role of managing a company's claims, both with employees and other claims upon companies. This role of comprehensive claims management can be done either by training current company employees or by managing the claims entirely for the company in an effective and cost-conscience manner.