Final answer:
Risk management for Allied Lines involves identifying, assessing, and mitigating potential risks for property damage liability. Strategies include fleet maintenance, driver training, and comprehensive insurance coverage.
Step-by-step explanation:
Risk management for Allied Lines, a moving company, involves the identification, assessment, and mitigation of potential risks related to property damage liability. As the risk manager, you would be responsible for implementing strategies to self-insure the company's fleet of moving vehicles against these risks.
One approach to risk management in this context is to develop a fleet maintenance program that includes regular inspections and repairs to minimize the likelihood of accidents or damages. Another strategy is to establish safety protocols and provide training to drivers to ensure they follow best practices while operating the vehicles.
In addition, it is important to have comprehensive insurance coverage that protects against unexpected events or large-scale damages. This can help mitigate the financial impact on the company in the event of an accident or property damage.