1 THE CRISIS READY PRACTICE: Developing a Risk Management Strategy WHITEPAPER2 3 According to an Aon survey, “nearly one in 10 companies taking the survey [had] no formalized process in place at all” for risk assessment. 1 A specialty practice’s ability to weather sudden and unexpected situations is often directly related to how well it was positioned to handle risk in advance. Preparing for potential risk is far more effective than simply reacting as things occur. However, achieving such readiness requires both planning and forethought. Without a proper and current risk assessment, in addition to a well thought out plan for responding to crises, specialty practices will find themselves hastily reacting to unexpected or sudden events, which will ultimately lead to negative impac

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