Australian Reliance- About Us Australian Reliance was formed in 1998 and has grown to become one of Australia’s leading privately owned corporate insurance brokers. Our company is owned and managed by its staff– this ensures our clients’ needs always come first. Australian Reliance employs leading insurance professionals who are extensively experienced specialists in their fields. Our Principals have worked for the major global insurance brokers and bring an abundance of knowledge and experience to an environment that is focused on clients. At Australian Reliance, a Principal of the Company is the nominated point of contact and has access to a wealth of product and industry specialists across the globe. The depth of experience and breadth of knowledge of our people enables a precisely detailed solution that matches clients’ needs. At Australian Reliance, the team that negotiates and implements a client’s insurance program is responsible for managing its service needs. This increases our understanding of our client’s business and creates ownership and accountability throughout the entire process. In 2009, Lockton, the world’s largest privately owned broker acquired a strategic shareholding in our company, providing access to international markets and servicing capabilities in over 43 countries. Australian Reliance have been announced as ‘Broker of the Year' in its category at the 2011 Australian Insurance Industry Awards for the second year in a row.
Generally Accepted Organisational Risk Management Approach
Risk Management Process (Based on ISO 31000) Establish context COMMUNICATION AND CONSULTATION MONITORING AND REVIEW RISK ASSESSMENT Risk Identification Risk Analysis Risk Evaluation Risk Identification
A well-defined risk management strategy includes the following attributes:
The risk strategy is linked to and supports the business strategy.
A risk culture is created and encouraged throughout the organisation.
Risk management is continuous, systematic process integrated into corporate culture.
Risk is identified, quantified, aggregated and studied for interrelationships.
Risk management responsibility is clearly defined, and risk is a key consideration for financial decision making.
A strategic or enterprise approach to risk management must include the following:
An understanding of the enterprise’s capacity to bear and propensity to assume risk.
The establishment of a robust yet scalable process for risk identification and assessment.
The evaluation of risk on a portfolio basis, with a keen understanding of the natural hedges that might exist among risks.
The establishment of a framework within the business that balances risk control activities with risk financing mechanisms.