Risk Management is the identification, assessment, and prioritization of “risks” (defined as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events.

risk management for nonprofits

Insurance is one of many Risk Management techniques.  It is the transfer of uncertain risk to another party (insurer) for a certain sum of money (premium).  But Risk Management is far broader.  While it does encompass insurance, risk management also deals with the concepts of avoiding, preventing, minimizing and recovering from loss. In addition, Risk Management addresses methods other than insurance for transferring the financial consequences of losses that do occur.

The payoff from a properly conceived, well structured and strongly supported Risk Management for Nonprofits program is fewer worker injuries / absences, smoother operation and reduced insurance costs.

By trusting Lamb Financial Group as an Insurance Company for Nonprofits and Risk Management, you will not need to have an insurance broker and a Risk Management consultant. Lamb Financial Group is able to offer you a complete, comprehensive package of Risk Management services.

Browse our list of Risk Management services: