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A key goal of risk management is protecting against the unthinkable and catastrophic. What if a concert series is planned and the primary act's main singer dies in a car accident? What happens if a football team loses a key athlete while he is training?
Both examples illustrate a huge potential for financial loss. Such a loss might preclude a business from delivering on its promises and fulfilling its agreements.
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Did you know Bray, Gibb & Co, the pre-eminent aviation insurance broker before World War I, was Samuel Cody's broker, the first man to fly a powered aircraft in the UK?