Risk is the sugar and salt of life. Risk brings sweetness to life and it brings bitterness. There is something exciting about the risk, an edge that it brings, a dimension we would not want to give up. The other side of risk is less attractive. The bitter side of risk is one with which we are only too familiar.

'Risk' is the unlooked for, unwanted event in the future. Events such as those at Flixborough, Seveso, Three Mile Island, Bhopal, Chernobyl, Zeebrugge, Piper Alpha or Kings Cross. These events and others like them have certainly grabbed the headlines but they are only the tips of the risk iceberg. They are the events, which make the headlines and the news bulletins, but they are far removed from the everyday forms of risk, which regularly confront us. The 'real' level of risk comprises the steady toll of fires, accidents, thefts, explosions, and other similar events. These are events, which rarely grab front-page space in our newspapers but nevertheless form the bulk of the work of risk management.

The dimensions and effects of such loss events have long since become major significance for whole economies and the questions of how to predict and prevent them are accordingly the subject of intensive discussion both in the political sphere and among the public at large.

It is an illusion to think that such events can always be prevented wherever they occur. An analysis of loss experience has shown, however, that it is often a combination of individual causes which, taken on their own, would not have any dramatic impact that leads to major or even catastrophic losses and that these, in turn, can give rise to some very complex effects. This realization makes it necessary to approach the problem of the limitation and control of threats from several angles at once or, in insurance terms, from the viewpoint of several different classes of business.

The complex realities of modern economic life and the growing awareness of the public at large place increasing demands on companies to pursue appropriate and far-sighted policies about risk. The same applies to insurers in determining their underwriting policies. The rapid development of new technologies and the changing nature of production processes necessitate a constant analysis of risk profiles. Both entrepreneurs and insurers therefore enormously increased need for analytical and advisory services. Risk Management Department at E.F.U is meeting part of this demand. This company offers our client advice in the field of Risk Management.

Aside from this, it is EFU's aim to offer its clients comprehensive support in questions of risk management affecting any sector.