In _____, the organization purchases insurance as a means to compensate for any loss.

a. Risk acceptance

b. Risk analysis

c. Risk mitigation

d. Risk management

e. Risk transference

Risk transference is a risk management method in which the liability of a potential loss is transferred from one party to another with a contract in between where the coverage terms and limits are specified. A typical is a company buying an insurance policy. There the policyholder is transferring his liabilities to the insurance company.

In _____, the organization purchases insurance as a means to compensate for any loss. a. Risk acceptance b. Risk analysis c. Risk mitigation d. Risk management e. Risk transference

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In _____, the organization purchases insurance as a means to compensate for any loss.

a. Risk acceptance

b. Risk analysis

c. Risk mitigation

d. Risk management

e. Risk transference