Firms can practice risk transfer through loss prevention or loss reduction techniques.

Name: Firms can practice risk transfer through loss prevention or loss reduction techniques.
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

Loss prevention and loss reduction are risk management techniques aimed at minimizing the frequency or severity of losses, not transferring the risk to another party. Risk transfer typically involves shifting the risk to another party, such as through insurance.

Firms Can Practice Risk Transfer Through Loss Prevention or Loss