Background

Sigma Risk Management Inc. is a leading Canadian risk management consulting firm, with a solid track record for high quality risk analysis and management advice. Our reputation is on time, on budget with quality.

Sigma Risk has intentionally remained a boutique firm of comparatively modest size. That said, we are still one of the larger and well-established Canadian firms specializing in independent corporate risk and insurance management, i.e. independent of insurers or brokers.

Importantly, we also provide risk engineering and assessment services to support our objective insurance advice.

Sigma Risk also offers an advanced enterprise risk management (ERM) development approach, more quantitative than other ERM service providers, both in risk assessment and in the benefit cost of risk mitigation.

Ethics & Professionalism

Sigma Risk is one of only three Canadian members of the relatively elite Society of Risk Management Consultants (www.srmcsociety.org).

SRMC’s Code of Ethics precludes its members from working for insurers or insurance brokers, or on any sort of contingency fee. That independence allows us to be objective and to avoid any conflict of interest on our work.

Although we do not offer engineering design services per se, we maintain a consulting engineering license (Permit to Practice) to strengthen our advice and quantification on the process, personnel, and property damage risks inherent in a client’s operation, including Maximum Foreseeable (Probable) Loss studies.

We are members of the following professional organizations:

  • Association of Professional Engineers and Geoscientists of Alberta

  • Canadian Association of Management Consultants

  • Casualty Actuarial Society

  • Disaster Recovery Institute

  • Institute of Internal Auditors

  • Insurance Institute of Canada

  • Project Management Institute

  • Risk and Insurance Management Society

  • Risk Management Consultants of Ontario

  • Society for Benefit-Cost Analysis

  • Society for Risk Analysis

Our quality management system is ISO 9000 certified and APEGA-compliant. 

Mathematics

One of Sigma Risk’s core strengths is in the use of mathematics of risk management, for instance:

  • Calibrating the corporate risk appetite.

  • Quantifying event likelihoods and financial impacts for the risk register.

  • Applying actuarial techniques and loss probability distributions to model risk.

  • Estimating maximum foreseeable loss using risk modelling and scenario analysis.

  • Performing benefit-cost analyses on risk mitigation alternatives.

  • Appraising property and business interruption values.

  • Evaluating Value-for-Money of insurance limits, deductibles, rates, commissions and premiums.

By examining and measuring risk mathematically, better risk management decisions result.

Meet The Team