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Risk management tools. Risk implies loss, and loss has cost, whether or not an actual loss occurs. (Photo: Shutterstock)

Editor’s Note: This 7-part series will provide guidance on how to handle day-to-day loss exposures efficiently.

Every profession has a multitude of risks to manage. Risk management itself is a profession, with various processes, procedures and tools to follow and use properly to avoid problems. However, the key to any form of risk management is carefully utilizing available risk dollars between risk control and risk financing to achieve the best result.

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