Clear Path's Risk Control Techniques

 The specific strategy we will deploy will vary on a case-by-case basis. However, most fall into one or more of the following general categories:
Reduces the probability or frequency of a particular loss, but does not completely eliminate the possibility of a loss.


Examples: 
  • Health and Safety programs
  • Retention strategies for key personnel
  • Stringent screening & hiring protocols
  • Effective policy development
Decision not to create a particular loss exposure or eliminate completely any existing exposure. This is the most extreme technique. Remember, avoidance may cause new loss exposures.

Examples:
  • Effective hiring practices
  • Anti-Nepotism policies
  • Removing your staff entirely from a dangerous location or industry
Reduces the severity of losses that do occur.



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Examples:
  • Active WSIB claims management to reduce costs
  • Performance improvement programs
  • Effectively executed terminations
Contract that transfers to another legal entity the legal responsibility for performing a particular activity and for bearing specified types of loss that might result from that activity.
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Examples:
  • Outsource a particular function to another company
  • Hire contract or "temp" workers
Diversification (spreading risk across numerous areas or individuals), Duplication (complete reproduction of a standby asset as reserve), or Separation (division of a single asset into two or more assets).
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Examples:
  • Cross-training of essential functions
  • Succession planning
  • Job rotation
  • Mentorship
  • Documentation of key processes​