The Triplejump risk management philosophy

At Triplejump, we have a particular way of thinking about the risks to your business and your family. We think there are three kinds of risk:

Catastrophic risks

These are events that rarely occur but - if they did - could have devastating impact.

Major risks

These are things that—thinking about the population as a whole—happen much more frequently. The impact may not be so severe, but could still involve significant disruption and loss.

Minor risks

These are things that happen - to somebody - every day. They are a nuisance, and a set-back, but not the end of the world

We think there are three ways to manage risk…

Avoid Risk

Don’t do things that you know would expose you to significant risk.

Reduce Risk

Change the way you do things so that there is less chance of something going wrong.

Transfer Risk

Take out insurance. Pay the insurance company to cover the risk for you.

At Triplejump, we will help you:

Identify

the risks that might impact you

Quantify

the financial impact they could have

Select

the right risk management strategy for you, taking into account the probability of risk and the potential financial impact.

Our risk management philosophy is that it makes sense to insure against catastrophic risk and some major risks, but that you are generally better to self-insure for minor risks and for those major risks you could cope with.

Minimise your insurance costs

by identifying those risks you can self-insure

Ensure you have adequate insurance protection

for catastrophic and major risks you would be unable to absorb.