Risks associated with projects can be eased or allayed by the existence of controls. Controls can have an effect on risks ranging from little or no effect to one of significant reliability. Controls may prevent risks from developing within a project; they may detect the existence of risks; they may correct or alleviate risks.
That is why ITC has developed a control procedure to eliminate risks: The
ITC Circle of Insurance. The main meanings of insurance are used as effective
tools of risk management. This procedure insures, or assures, our customers
against loss or damage.