Definition

An assessment of the benefits you receive from your policy. It helps you understand your protection and decide if any changes are needed.

What to consider

  • Identify key risks in your operations.
  • Implement practical, cost-effective solutions.
  • Review strategies periodically for effectiveness.

Real world scenarios

  • A manufacturing firm implements safety training to reduce workplace accidents.
  • A small business adopts cybersecurity measures to mitigate data breach risks.
  • An entrepreneur diversifies suppliers to mitigate supply chain risks.

Related terms

Insurance & Financial Protection