Risk Control – Helping Your Company Control Risk
Risk control is a broad heading of risk management techniques to help your company control risk, as its name implies, but what is it actually?
You may think of risk control as that visit from your insurance company, loss control engineer, or specialist every year. But, that’s just part of it. Risk Control is the second step of the Risk Management process after risk identification. In the corporate setting, risk identification will identify and prioritize risks based on the likelihood they will occur and the severity impact that risk will have on the organization should it occur. Identified risks are charted on a heat map according to probability and severity in order to gain a visual perspective of which risks require the most attention. Those in the highest “heat” category are treated with the highest priority with risk control strategies.
Viewed in its proper context, risk control are the activities centered on reducing the probability or likelihood of a negative activity occurring and should it occur to reduce or minimize the severity of its financial impact within your organization.
Do You Know the Risks Your Company Faces?
What risks does your company in New York face? Which ones need to be controlled? The most familiar ones typically are going to be property risks and worker injury risks. These are the focus of many insurance company loss or risk control specialists, but they certainly aren’t the only ones. You may need assistance to develop strategies focused on your vehicle fleet, or on safeguarding corporate assets, or on the risks of executive travel, kidnap, ransom, or extortion. It could be the growing threat of Cyber Risk, or Crisis Management following a disaster. There are dozens of categories of risk types and corresponding risk control strategies. From New York, The Coyle Group has solutions for many of your biggest risk challenges, as well as the expertise to help you develop and customize solutions for your unique circumstances.
Our Risk Control Services are part of the service offering we provide our clients in an effort to help them reduce their Total Cost of Risk, and improve the productivity of their operations. All of which help enhance bottom line profitability.
Serving Area New York Businesses with Risk Control Strategies
Since 1929, The Coyle Group has been serving businesses in the New York area with Risk Control Strategies in the Rockland County communities of: New City, Nanuet, Haverstraw, Pearl River, Stony Point, Suffern, West Nyack, Congers, Valley Cottage, Nyack, Orangeburg, Blauvelt, Palisades, and Chestnut Ridge; the Orange County communities of: Goshen, Pine Bush, Middletown, Newburgh, New Windsor; the Westchester County communities of: White Plains, Yonkers, New Rochelle, Bedford, Elmsford. And in New York City – Manhattan, Bronx, and Brooklyn.
For more information on how Risk Control Service can help improve your Brooklyn & Kings County, or other area New York business practices, call us today at 845-634-3606.