Risk Management has historically been broken out into five categories.
Identify Your Risk - Do you know what your exposures are? I am sure that you know what you own, but do you know what your risks are from running your business, or having a home, or operating a boat? Obviously many of us choose to "take our chances" on some of our exposures, but if you do not know what they are, how can you properly decide how much risk you are willing to take? Checklists are readily available on the internet, or you can contact our office. We would be glad to send you a list to review geared to your questions.
Avoid Your Risk - Fairly easy concept, just don't do whatever it is that is exposing you to risk. This is not very easy to do, unless you want to wrap yourself in cotton and do nothing at all, including earning a living. Just about every activity of your life has some exposure to risk. Driving to the store exposes you to car accidents, or a collision with a shopping cart. Again, most of these the risks are assumed by you every day without even thinking twice. For business owners, selling apples should be a fairly low exposure to risk, but building a house or cutting down a tree, not so much.
Minimize Your Risk - Transfer the exposure to someone else. General Contractors, transfer the risk to subcontractors who are actually doing the risk. Parents, convince your children to purchase their own auto insurance.