Risk Control strategies with its focus on management of the organisation’s loss producing events; necessitate organisations to concentrate on protection of their human and non- human resources from these dangers. Any type of loss may be to the detriment of each organisation’s financial health. It has become a norm for most organisations to cover these events through insurance products aimed at providing a buffer in case these unforeseen events strike. However Insurance companies have also made it difficult for organisations to translate their risks into a premium which may have high costs implications for them.