a. Briefly explain each of the following risk-control techniques for managing risk: 1. Avoidance 2. Loss prevention
Question:
1. Avoidance
2. Loss prevention
3. Loss reduction
b. Briefly explain each of the following risk-financing techniques for managing risk:
1. Retention
2. Noninsurance transfers
3. Insurance
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a Risk control techniques refer to techniques that reduce the frequency or severity of losses They i...View the full answer
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Related Book For 
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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