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What is the difference between risk retention and self insured?
Wiki User
∙ 13y ago
Risk retention refers to the ability to accept risk and or can be referred to as risk taking, however self insured refers to a situation when someone is very much hopeful
Wiki User
∙ 13y ago
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What is the difference between risk and uncertainty?
First of all that is improper grammar. Second, uncertainty is not knowing or being sure of something. Risk is either a cool board game or doing something dangerous. doing something dangerous is taking a risk.
Difference between pooling of risk in shortterm and longterm insurance?
terms period
Difference between types of risk and classification of risk?
Types of risk means definition of different types of risk by your own means to facilitate your understanding. Classification of risk means the definition of different types of risk using technical terms to standardize it for the people.
What is the difference between a high and a low tolerance for risk?
It's a client's willingness to trade higher rates of return on an investment for the risk of losing part or all of their capital investment.
Different between certainty risk and uncertainty risk?
Different between certainty risk and uncertainty ris
What is insurance retention?
An insurance retention is the portion of an insurance claim paid by the insured instead of the insurance company. A deductible is a common example of a retention although there are other types of retentions. Retentions allow the insured to reduce insurance premiums whileassuming a portion of the risk being insured.
What is difference between active passive risk retention?
Retaining risk passively - Understanding the risk without taking any actions to prevent possible outcomes. Active retention - preparing for risk to happen, having plan for in case it would happen. Some form of self insurance (direct insurance would be form of transferring risk.)
What is the difference between risk retention and risk transfer?
Risk retention is when a company decides to bear the financial impact of a potential loss itself, while risk transfer involves shifting the risk to another party through insurance or other financial arrangements. Risk retention allows a company to potentially save on insurance premiums but also exposes it to higher financial losses, while risk transfer helps mitigate potential losses by passing them onto another party.
What type of insurance has a sir deductible?
SIR stands for self insured retention. It is a deductible applied to some liability policies. The term deductible is used for insurance that covers property losses, such as the insurance that would replace your house if it burned down. Retention is a term that refers to liability insurance, insurance that pays on your behalf if your negligance caused someone else to suffer a loss. Certain liability policies,such as umbrella policies and professional liability policies require the insured to, under certain circumstances, pay for part of the loss. The self insured retention is paid by the insured before the insurance company pays for the remainder of the loss. On umbrella liability policies the self insured retention applies to losses that are not covered by underlying, primary liability policies. On professional liability policies, the self insured retention applies to all losses, and is a way for the insured to lower their premiums by retaining the risk of losses up to a certain amount.
What is Difference between wholesaler and retailer on the basis risk?
what is Difference between wholesaler and retailer on the basis risk?
Health insurance is a written contract between which two parties?
Between the insurer (the risk-bearing entity) and the insured.
What are the essential feature of insurable risk?
A risk cannot be insured until it meets certain conditions.It means that the risk should not be created by the insured himself. That is,If the goods insured have been set of fire by the insured,the insurance company will not be responsible
What is difference between constraint an risk?
A constraint is a limitation that is visible and present. The difference between a constraint and risk is that a risk is problem that is not yet seen, or a potential problem.
What are the difference between political risk and country risk?
they are the same
What is the difference between risk behavior and risk situation?
Risk behavior refers to actions or activities that increase the likelihood of potential harm or negative consequences. On the other hand, risk situation refers to circumstances or environments that expose individuals to potential danger or harm. Risk behavior involves individual choices and actions, while risk situation relates to external factors that may increase the likelihood of harm.
What is the difference between transaction risk and economic risk?
Transaction is bank risk
What does risk retention mean?
Risk retention is a form of self-insurance. An organization sets aside a reserve fund to be able to offset unexpected claims.
