Marika Tolz Guide to Risk Management: Basic Methods To Consider

Marika Tolz
3 min readJan 3, 2022


To any size of business, risk management is very important. Like for Marika Tolz who has been in the operations executive position for about 30 years, she knows the importance of risk management to any field and company she is working with.

Managing risk is not an easy task to do but with effective methods, businesses can somehow minimize or even avoid negative impacts from occurring.

To help you in managing risks for business, here are some of the basic methods you can consider:


Avoidance is where companies avoid any activities that may incur sicknesses, injuries or even death to their employees. Smoking is one of the most popular, as this can risk not only health but also financial and overall operational status of the business.

For life insurance companies, what they do is to increase premium for smokers as they know that these people are more susceptible to different diseases.

As much as you want to completely avoid risks, there are some risks that cannot be avoided hence best to create a way to minimize the impact the risk may result to.


For companies, they share the risk with their employees by dividing the premium of insurance between them and their employees. The more individuals and entities sharing the risk, the lower the premium they need to pay. The amount to be shared somehow divides the risk to more entities, hence cutting the risk to a smaller amount.

Some companies are considering this option as they know that this can help them cut risks on their business, but there are still some businesses who shoulder all the insurance premiums to themselves as a part of the benefits they provide to their employees.


Transferring the risk to someone else is another way to minimize the risk. What companies do is getting an insurance for their properties and employees in exchange of paying a premium. Through the insurance, the risk of paying huge because of property damages, or employee injuries will be avoided.

This is one of the most effective methods businesses can do to minimize major financial risks to impact their business.

Loss reduction

As previously discussed, there are risks and losses that are very hard to avoid, hence preparing for the storm is what they need to do. As always, prevention is better than cure, with this, businesses are encouraged to find ways to minimize huge negative impact on upcoming risks.

One of the usual things companies do to minimize risks on health is annual physical examinations and check up. Through this, health problems are being resolved right before things go out of proportion.

Finding ways to minimize the risk in business is very important especially that these risks may cause losses to a business in many forms. Hiring a risk manager is also a good idea to make sure that your business is safe from major risk impacts. There are many risk managers out there, and hiring the best one is what you need to do if you want to get the most out from their service.



Marika Tolz

Marika Tolz. Hollywood, FL Businesswoman. Legal Administrator. Retired Federal Trustee. Retired Commercial Real Estate.