ABSTRACT
Risk management is the continuous and ongoing process to identify, analyze, evaluate, and treat loss exposure and monitor risk and financial resources to mitigate the adverse effects of loss. There are several types of losses, including financial, strategic, and operational. Aquatic lawsuits alleging negligence often start with a review of risk management policies. These are often found in a Standard Operating Procedures Manual. In the worst and most egregious cases, risk management has been ignored by management. Every aquatic environment has a variety of life-threatening hazards, and consequently there is an implicit duty to respond to them. This response is a comprehensive risk management assessment. Sometimes colored flags are used on ocean beaches to convey information about beach conditions and warnings. When a blue flag is flown, the intention is to warn the public that man-o-war and stinging jellyfish may be present. Because flags represent a symbolic language, the "receiver" must know what the symbol is intended to represent.
