Management of the varied risks to which a business firm or association might be subject. It includes analyzing all exposures to gauge the likelihood of loss and choosing options to better manage or minimize loss. These options typically include reducing and eliminating the risk with safety measures, buying insurance, and self-insurance.

"Risk Management" In Context

"Before joining the county's emergency management team as a senior planner in 2006, she worked for the city of Stuart in risk management for 20 years. "I took Stuart through Frances, Jeanne and Wilma in 2004 and 2005," McCaughey said. County ..."