Primary services include:

• Identifying risks and exposures to loss.
• Analyzing current coverage, service, and pricing.
• Developing customized programs examining all risk financing options including: self-insurance, cash-flow plans, insurance, and other risk transfer techniques.
• Administering the program; negotiating coverage and costs, while maintaining high loss-control standards and reducing risks assumed under contracts.
• Monitoring and evaluating risk management programs to ensure they are meeting objectives.

Basic guidelines in the risk management decision-making process:

1. Don't risk more than you can afford to lose.
   The most important determining factor in deciding what to do about a given risk is the maximum potential loss that might result.
2. Don't risk a lot for a little.
   Purchase insurance only when necessary. Also, don't risk a possible loss just to save premium dollars.
3. Consider the odds.
   The risk manager must weigh the probability that a loss may occur against the financial consequence of the loss. For example, if a loss could cause financial catastrophe, the fact that the probability is small is of little significance.

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