According to its traditional definition, risk is a deviation from the expected. However, theft, fraud, sudden market downturns, and natural disasters have become the usual circumstances from which organizations seek protection. Many would attest that "the expected" is becoming less and less definable and, consequently, more difficult to insure against. Yet financial investors and other stakeholders are demanding that organizations do just that.

As Risk Manager, there is a way to succeed in this increasingly challenging atmosphere. The expertise of Nitty-Gritty Solutions and its sister company, NGS Insurance Agency, Inc., will provide you with the programs, policies, and services that empower you to address the uncertain environment in an accountable, cost-effective manner.

Unpredictable Factors Become Everyday Challenges

Managing risk requires courage and an unconventional view. As the Risk Manager, you must approach your job in four stages. First, identify potentially predictable circumstances. Second, place a realistic value on the potential losses and liability that can result from such occurrences. Third, determine how an organization can financially afford appropriate protection from such risk. Fourth, identify the potentially uninsurable circumstances and implement safeguards within the organization to minimize financial and other liabilities. This last stage requires the commitment of all other employees.

The hard assets of the business, once considered the primary focus of risk management, now comprise only the most basic element of an organization's protection program. Even the company's revenue stream, based on a combination of historical perspective and projected analysis, is a standard component of risk management programs.

Enter "pure risk," the extraordinary yet essential element of an organization's catastrophic protection program. Pure risk is that extreme loss that can occur when bad things occur even when you've anticipated and accounted for all probable negative factors. In other words, pure risk is the loss you incur when the unthinkable happens.

Changing economic conditions make valuating hard assets and revenue streams increasingly difficult and time-consuming. Defining the "pure risk" of an organization can be even more challenging.

Beating the Unpredictable with Productive Solutions

With more than 25 years' of leadership experience in the development of risk management programs, Nitty-Gritty Solutions draws on unconventional wisdom to provide clients with appropriate asset protections at startling savings. That's right. We have a proven record of increasing our clients' protection while reducing costs and boosting workplace productivity.

Over the years, the Nitty-Gritty team has helped a variety of businesses and industries identify and obtain appropriate insurance coverage. More importantly, we've shown organizations how to implement process, procedural and operational controls to minimize their liability exposure under uninsurable circumstances.

Our approach to managing risk, though basic, is uncommon. Nitty-Gritty Solutions seeks to develop a long-term relationship with your organization by becoming your strategic partner. Instead of offering you a specific program to fill a particular need, we use our total experience to help you achieve and maintain market leader status.

To achieve a partnership, we know that we have to be innovative, effective, and accountable. We bring to the table an understanding of your competition, customer needs, workforce issues, compliance standards, and the relationship among these factors. We seek to develop a vested interest in the success of your company based on a clear understanding of your corporate culture, products and services, and short- and long-term financial goals. Together, we define the unthinkable, and determine how your organization can minimize its liabilities in the face of such events.

Nitty-Gritty Solutions will train your current workforce talent to implement needed programs and services. If you choose, we will execute the entire effort on a turnkey basis. Whatever our working relationship, you can expect us to report to you and other appropriate members of your management team regarding actual results compared to pre-determined outcomes for your risk management program.

Creativity and risk management is not an oxymoron. Let Nitty-Gritty Solutions prove it to you! To contact us, click here.