Risk Management Services

"Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime." — Chinese Proverb

Way back in 1689 in Edward Lloyds’ coffee shop, the principle of transferring risk for a fee was originated when ship owners allowed “insurers” to sign under their ships name and offer protection from the risks of the sea for their shipments in exchange for money. Thus, the concept of insurance was born.

The basic principal of risk transfer still remains today, but the insurance industry has developed ways to avoid or minimize loss exposures through risk management. Risk Management involves the concept of identifying, analyzing, controlling, and handling risks or exposures to risks as a component of a complete insurance package.

There are several basic tenants of risk management: Don’t retain more than you can afford to lose; Don’t risk a lot for a little; Consider the realistic odds; and Don’t treat insurance as a substitute for loss control.

The emphasis for TISC’s Risk Management (TRM) department is on the importance of avoiding an accident or loss before it occurs. We work with our clients to identify, minimize or eliminate perils and risks associated with their business through safety and loss prevention techniques and training. In reality, when your assets, both human and financial, are protected through a complete insurance and risk management program, your business will experience less interruptions or losses and your employees will experience fewer injuries making them more productive. The core benefits of an active risk management program include reduced accidents, providing adequate asset protection for the entity, and the ability to plan and budget better for retained losses.

TISC ascribes to the Chinese philosophy of “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.” What this means in a practical sense is that education is the key component to a comprehensive risk management program. By providing training, seminars, informational alerts and newsletters, inspections, studies and bench marking our clients are in the best position to identify and mitigate risks and experience accidents or losses below that of their competitors.

Combining our expertise and resources in insurance offerings with TISC Risk Management, allows us to strengthen our relationships and become an integral part of our client’s team. When TRM is combined with all of the other services provided by TISC, it makes one impressive package and accomplishes the goals set out by TISC’s mission statement.

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