Question: Define (a) risk avoidance, (b) loss prevention, (c) loss control, (d) risk assumption, and (e) an insurance policy. Explain their interrelationships.

Define (a) risk avoidance, (b) loss prevention, (c) loss control, (d) risk assumption, and (e) an insurance policy. Explain their interrelationships.

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Lets address each term and explore their interrelationships a Risk Avoidance Definition Risk avoidance involves completely eliminating exposure to a r... View full answer

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