No two industries face the same risks — and no successful risk management strategy should treat them as if they do. From natural disasters and cyberattacks to regulatory compliance and labor shortages, each sector faces unique operational, financial, and reputational threats that require tailored solutions.
“Companies require dynamic and flexible risk management to navigate an unpredictable future in which change comes quickly,” says McKinsey & Company. “Companies need a systematic way to decide which risks to take and which to avoid.”
At Dean & Draper, we help organizations across Texas and beyond develop custom risk management plans that align with their sector, scale, and strategic goals. Here’s how different industries face different risks — and why targeted mitigation matters.
Risk management is often misunderstood as a one-time checklist or compliance task. In reality, it’s an ongoing process that helps organizations:
A strong risk management program doesn’t just reduce exposure — it helps organizations build resilience, preserve profitability, and stay competitive.
“Smart businesses recognize that risk is not static. New threats emerge, regulations evolve, and operations shift. Your risk management strategy must evolve, too,” says Kyle Dean, President & CEO Dean and Draper.
Texas’s energy sector is both powerful and exposed. With increasing reliance on renewables, aging infrastructure, and extreme weather patterns, utilities must manage a complex web of physical and financial risk.
Example: A ransomware attack on a regional power provider could shut down operations for days. Without cyber coverage and a tested business continuity plan, recovery would be slow and expensive.
Texas construction is booming — but with growth comes exposure. From unpredictable storms to theft and labor shortages, builders face constant disruption.
Stat: Construction site theft results in over $1 billion in annual losses in the U.S., with Texas ranking among the top states for reported incidents.
A single failure in the production line or a delayed shipment from a key supplier can ripple through operations and customer relationships.
Stat: Business interruption is the top cause of insurance-related concerns in manufacturing, according to Manufacturing Tomorrow.
Healthcare providers operate in high-stakes environments where even minor disruptions can jeopardize patient care and organizational trust.
Stat: Between 2018 and 2023, ransomware attacks on U.S. healthcare organizations increased by 93%, according to HIPAA Journal.
For service providers, a single misstep can result in costly legal exposure or long-term brand damage.
Stat: The average cost of a data breach in professional services is $4.9 million, per IBM’s 2024 Cost of a Data Breach Report.
While risks differ by sector, the framework for managing them can be standardized. Enterprise Risk Management (ERM) offers a holistic way to address:
Key components of an effective ERM program include:
“An effective risk management framework is not a ‘set it and forget it’ tool — it’s a living process that must evolve with your industry, technology, and team,” noted Dean.
Dean says a strong risk culture is essential for long-term success of ERM with leadership commitment, continuous learning, and embedding risk management into the existing organizational processes and decision-making frameworks all part of the equation.
Dean & Draper brings decades of experience helping Texas businesses identify, assess, and insure against sector-specific threats. Our services include:
Whether you run a health care center in Houston, a construction firm in Dallas, or a manufacturing plant in San Antonio, Dean & Draper can help you manage what matters most.
“Remember, a multi-million-dollar chip manufacturer has very different challenges than a private school, but both deserve to be protected against any unexpected accidents or mistakes,” concludes Dean. “Our team can help you design an insurance program that addresses the needs of a broad scope of industries from food, agribusiness and beverage to marine to non-profit organizations.”
Contact us today for a risk assessment or policy consultation. Let’s build a plan that fits your industry, your business — and your future.
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