Insurance Law - 33. page

RISK PLANNING AND CONTROL : Once risk and identified and analyzed, it is important to plan and adopt a suitable strategy for controlling the risk. Risk planning and controlling is the […]

Risk Avoidance : Risk avoidance is one method of handling risk. For example, you can avoid the risk of being pick pocketed in Metropolitan cities by staying out of them; you […]

Risk Retention : Risk retention is a second method of handling risk. An individual or a business firm may retain all or part of a given risk. Risk retention can be […]

Active Risk Retention : Active risk retention means that an individual is consciously aware of the risk and deliberately plans to retain all or part of it. For example, a motorist […]

What is risk management? : Risk management ensures that an organization identifies and understands the risks to which it is exposed. Risk management also guarantees that the organization creates and implements […]

Benefits to managing risk : Risk management provides a clear and structured approach to identifying risks. Having a clear understanding of all risks allows an organization to measure and prioritize them […]

Role of insurance in Risk Management : Insurance is a valuable risk-financing tool. Few organizations have the reserves or funds necessary to take on the risk themselves and pay the total […]

RISK ANALYSIS : Risk Analysis is the process of identifying, analyzing and communicating the major risks. Risk analysis involves Once risks have been identified, they must then be assessed as […]

RISK MANAGEMENT : ‘Risk, in insurance terms, is the possibility of a loss or other adverse event that has the potential to interfere with an organization’s ability to fulfill its mandate, […]

Objective Risk : Objective risk is defined as the relative variation of actual loss from expected loss. For example, assume that a fire insurer has 5000 houses insured over a long […]