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PS&F’s Lynne Seville Interviewed in Alaska Business Monthly

How Safe is Your Business?

Companies using risk management plans to protect bottom lines

According to Parker, Smith & Feek Principal and Vice President of Risk Management Consulting opens in a new windowLynne Seville, there are numerous ways that companies can mitigate risk. “One option is to transfer risk to others, for example, through a contractual transfer. A building contractor might choose to reduce their risk on a project by pushing it on to a subcontractor or choose to not accept certain risks from the owner. When making a contractual transfer, it’s important to make sure that the person assuming the risk has the resources to pay for the loss, however; the contract might indemnify you, but the indemnity needs to have the wherewithal to assume the risk and the financial resources to pay for the loss.”

( opens in a new windowAlaska Business Monthly article)

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