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 Lynne 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.”

(Alaska Business Monthly article)

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