Tag: water damage
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We know to sparingly avoid risk and how to improve our prevention (frequency) effectiveness but what is reduction (severity) all about when not viewed in combination with prevention (frequency). Reduction by its very nature is the lowering of the impact by lowering the severity of the exposure. Reduction is putting systems in place, such…
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If you want to manage risk, you have to figure out what risks (or perils, as they say in the insurance business) you have. You might think that fire, or general liability risks (e.g. the slips, trips and falls type of claim) are the biggest risks but water escape is a frequency risk that can…