We have visited the Web site of the Treasury Board of Canada Secretariat

http://www.tbs-sct.gc.ca

RISK MANAGEMENT POLICY

www.tbs-sct.gc.ca/pubs_pol/dcgpubs/RiskManagement/riskmanagpol_e.asp

The objective of the policy is to safeguard the government’s property, interests, and certain interests of employees during the conduct of government operations.

In the government operations, there is increasing awareness or expectation of the need to mange risks, rather than leaving them solely to insurance. The government has an obligation to be fully aware of the state of the art in risk management and to prevent losses. Risk Management can be cost-effective when departments assess their risks properly and determine the most economical way to avoid them entirely, or reduce them to a minimum.

As shown in Appendix A, there are four phases in risk management :

Phase 1    Identifying risks and the entities exposed to and in control of the risks ; (before an incident)

Phase 2    Minimizing risks and their cost; (before an incident)

Phase 3    Containing the effect s of any damaging or harmful incident; (during an incident)

Phase 4    Compensating or restoring and recovering in the event of such incidents, and providing feedback of information as a basis for improving the management system. (after an incident)

________________________________________________

Readers, as well as insurance companies, associations, and entities are encouraged to let us know their Web page. We will be pleased to check it out and tell our readers about it.