In claims, the greatest peril is litigation. Whether allegations are true or false, lawsuits are expensive. (Shutterstock)
Last month we explored exposures that adjusters must risk manage. Once exposures are determined, identify potential perils along with any hazards that could trigger a peril. Many threats are physical in nature: fires, thefts, cyberattacks, injuries or deaths, and injuries to third parties, but they can also be moral or morale hazards, which are more difficult to define. Consider every hazard and avoid them if possible. Some must be accepted, however, most can be modified.
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