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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 is the difference between risk retention and self insured?
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
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.
What are the advantage and disadvantage of risk transfer?
advantages of risk transfer
What are acceptable risks in a Risk Retention Group?
A Risk Retention Group is a type of insurance formed by members who associate specifically to form an insurance pool. Acceptable risk is the level of loss that such an association can handle and remain solvent.
How do you calculate risk retention?
no of policies renewed/no of potential renewal policies
Is fluid retention caused by high or low potassium in the body?
It is excessive salt intake (sodium) which can place an individual at risk of fluid retention.
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.)
Disadvantages of pilot study?
disadvantage is only risk of life.
What is disadvantage of police officer and car racer?
The disadvantage of the police officer and car racer is that the risk associated with their jobs is high.
What are the advantages and disadvantage of sale risk?
Nuna Yo Dayum Biznezz
What is the disadvantage of having 7 players on a netball team?
The disadvantage is that you don't have a sub and when somebody get hurt you have a greater risk of losing the game than your opponents.
