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Environmental risk and liability management and its influence on profitability
Author(s) -
Fletcher Charles D.,
Paleologos Evan K.
Publication year - 1999
Publication title -
environmental quality management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.249
H-Index - 27
eISSN - 1520-6483
pISSN - 1088-1913
DOI - 10.1002/tqem.3310080405
Subject(s) - business , risk management , liability , profitability index , safeguard , control (management) , actuarial science , finance , risk analysis (engineering) , audit risk , business risks , accounting , economics , audit , management , international trade
Abstract Managing environmental risk and liability for corporations and consultants requires a prudent combination of insurance techniques, company risk control plans, pollution prevention, and the proper allocation of retention funds. This article presents a review of current risk management techniques used to shield profits from limited and catastrophic loss scenarios. We recommend that corporations and consulting firms integrate insurance and risk management planning to mitigate environmental liabilities, navigate business risks, and safeguard corporate performance..© 1999 John Wiley & Sons, Inc.