Insured Risk Management PlanningFinancial planning must include an efficient program to establish and manage risk. The program must be able to identify, measure, and remedy exposure to potential losses. Risk management deals with losses due to damage or destruction of property, illness or death. Although, risk management was viewed as an issue pertaining exclusively to business, today we recognize that families and individuals must organize their estates and finances using the features adopted by business – identification, planning, and risk management. An individual who is able to manage exposure to losses may be able to obtain better results, optimize his/her cost structure, and reduce the volatility of his/her personal, family and/or corporate estate.