Risk Management
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:
- Identify and characterize threats
- Assess critical assets and examine vulnerability
- Explore ways to reduce risks
- 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.
