Global Reach, Inc., insures its real and personal property, as well as the lives of its key employees, to protect its financial interest should some event undermine its security. This is

Question

Quizplus · Accepted Answer

Global Reach, Inc. is engaging in risk management by insuring its property and key employee lives to safeguard against potential loss or damage. Universal life and coinsurance are specific insurance products that may be utilized in risk management strategies, but they are not comprehensive risk management themselves. Underwriting is the process of evaluating and pricing insurance policies, which is a component of risk management but not the overall strategy.