Question: Just need some help understanding these concepts for studying, thank you 5. Explain the basic distinction between transfer and retention as a means of risk

Just need some help understanding these concepts

Just need some help understanding these concepts for studying, thank you

5. Explain the basic distinction between transfer and retention as a means of risk financing and list at least three ways each can be achieved. 6. Identify characteristics of situations involving risk that help an organization determine which "risks to retain and which to transfer. 7. Describe how segregation works to manage risk for a corporation. 8. Describe the effect of pooling on each of the following: a. Expected losses per person b. Standard deviation of losses per person. 9. Explain how each of the following supports the principle of indemnity as it applies to the insurer and the insured: a. Insurable interest b. Utmost good faith C. Subrogation

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