Risk and insurance
The question is not simply what insurance should we buy. It is what risk do we face, what should we do about it, and what role should insurance play?
We are not anti-insurance — quite the opposite. Insurance remains one of the most important mechanisms available to businesses for managing the financial consequences of risk. But insurance should be part of the risk strategy, not the strategy itself.
That distinction is fundamental to the Alba approach. It changes what is asked, in what order, and who is accountable for the answer.
Three decisions about every risk
Retain
Some risk is best carried by the business itself, knowingly and deliberately, with the consequences understood in advance.
Mitigate
Some risk is better reduced or controlled through how the business operates, contracts, maintains and prepares.
Transfer
Some risk belongs with an insurer — structured and worded to respond in the circumstances the business is actually exposed to.
For the cover we arrange once a risk should be transferred, see commercial insurance in South Africa.
What partnership means to us
Partnership is not a word we use because it sounds good. It means being sufficiently invested in understanding a client's business that our advice has context. It means knowing what matters before a problem occurs, being present when the answer is difficult, challenging a client when we believe something has been overlooked, and remaining alongside the client when the risk becomes a reality.
A partner is there before the decision, during the decision and after the decision.
Every business carries risk it has never named. We can help you name it.
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