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Risk Managers

History

Entrepreneurs have always taken steps to prevent losses or damage to their businesses. During the Industrial Revolution, business owners recognized that as production levels increased, risks increased at the same rate. The risks were often managed at the expense of worker health and safety.

Only since the mid-1950s, however, has risk management developed into a specialized field. With the rapid growth of technology came greater and more varied risks. Risk management changed from simply buying insurance against risks to planning a wide variety of programs to prevent, minimize, and finance losses. Today's risk managers analyze data through various software and Internet programs, and help individuals, companies, and government agencies reduce the risk of loss due to accidents, incidents, and catastrophes.

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