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A female truck driver smiling in the front seat - Managing risk
Great West9/19/221 min read

5 Steps of Managing Risk

All motor carriers share one thing in common: managing risk, a task that is key to profitability. Regardless of fleet size, every motor carrier strives to minimize the risks that can lead to financial losses. For those new to risk management, the concepts and techniques used may feel overwhelming, even confusing. That’s okay.

To help you ease into this world, review the graphic below; it demonstrates a five-step risk management process. Keep in mind, this example is not intended to be all-inclusive, and you may choose to expand your own process beyond five steps. This example is simply for educational purposes but spotlights a common risk all motor carriers face: rear-end crashes.

5-STEP-RM-PROCESS

Call to Action

  • Train managers and supervisors on the risk management process.

  • Assign personnel to identify risks affecting their departments.

  • Rank each risk and prioritize those needing immediate intervention.

  • Evaluate alternative risk management techniques such as engineering controls.

 

The information in this article is provided as a courtesy of Great West Casualty Company and is part of the Value-Driven® Company program. Value-Driven Company was created to help educate and inform insureds so they can make better decisions, build a culture that values safety, and manage risk more effectively. To see what additional resources Great West Casualty Company can provide for its insureds, please contact your safety representative, or click below to find an agent.

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Insurance Contracts are Underwritten, Administered, and Issued by: Great West Casualty Company, Old Republic Life Insurance Company, and Old Republic Union Insurance Company.

One or more Old Republic companies may provide the products and/or services described. Information presented is for illustrative purposes only and does not constitute a contract or advice, including employment advice or advice to motor carriers. Please refer to the relevant insurance policy for actual terms. Products and services may not be available in all states and may be subject to change without notice. © 2026 Old Republic International Corporation. Old Republic® and the Old Republic Circle of Stars monogram are registered trademarks. All Rights Reserved.

 

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