Risk management is a form of resilience strategy, which involves a process to protect the company, the clients, and others associated in the business. Managing risks at Seatrek is thorough a process of Evaluation-Discussion-Analysis. Though the company management has drafted tight specifications, and boundaries and parameters have been set, we recognize no one-size-fits-all solution exists in such a dynamic industry.
Risks, depending upon their nature and severity, may be managed in different ways – including avoidance, retention, and transfer. Any combination of these must be evaluated. However, all of this is done within the pre-specified limits, with commercial and legal departments intrinsically involved in the process that protects all counterparts.