Risk Management is formally defined as the identification, assessment and prioritization of the uncertainty of events and the effects of those events. Formally, we help our clients:

  1. Identify and characterize threats
  2. Assess critical assets and examine vulnerability
  3. Explore ways to reduce risks
  4. Help prioritize reduction measures based on client strategy

After identifying risks, we work to address them with the following methods:

  • Risk avoidance (eliminate or withdraw from becoming involved)
  • Reduction (mitigate exposure)
  • Sharing (transfer risk via contract or by purchasing insurance)
  • Retain (budget for loss)

At Northrup Corporation, we look ahead to find unseen areas of exposure, and then provide a comprehensive risk management plan to protect the value of your business – no matter what.

 

 

Contract form on a desk