ENTERPRISE WIDE RISK MANAGEMENT (EWRM)
EWRM refers to a holistic approach towards identification and quantification of risks that the entire organization faces for both insurable and non-insurable risks in order to implement risk mitigation and reduction measures which are both insurance and non-insurance solutions in the short, medium and long term. This entails looking at risks of an organization in a 360 degree format to cover other sections of an organization that are usually omitted by insurance that include but not limited to:
Human Resources Risk
Safety & Health:
Mitigatory measures are devised through Risk Registers which detail the identified risks and steps to reduce or neutralize the risks with set time frames.