All motor carriers share one thing in common: managing risk, a task that is key to profitability. Regardless of fleet size, every motor carrier strives to minimize the risks that can lead to financial losses. For those new to risk management, the concepts and techniques used may feel overwhelming, even confusing. That’s okay.
To help you ease into this world, review the graphic below; it demonstrates a five-step risk management process. Keep in mind, this example is not intended to be all-inclusive, and you may choose to expand your own process beyond five steps. This example is simply for educational purposes but spotlights a common risk all motor carriers face: rear-end crashes.
CALL TO ACTION
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Train managers and supervisors on the risk management process.
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Assign personnel to identify risks affecting their departments.
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Rank each risk and prioritize those needing immediate intervention.
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Evaluate alternative risk management techniques such as engineering controls.
Note: These lists are not intended to be all-inclusive
This material is intended to be a broad overview of the subject matter and is provided for informational purposes only. Joe Morten & Son, Inc. does not provide legal advice to its insureds or other parties, nor does it advise insureds or other parties on employment-related issues, therefore the subject matter is not intended to serve as legal or employment advice for any issue(s) that may arise in the operations of its insureds or other parties. Legal advice should always be sought from legal counsel. Joe Morten & Son, Inc. shall have neither liability nor responsibility to any person or entity with respect to any loss, action, or inaction alleged to be caused directly or indirectly as a result of the information contained herein. Reprinted with permission from Great West Casualty Company.