Risk retention is a form of self-insurance. An organization sets aside a reserve fund to be able to offset unexpected claims.
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
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.
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.
The primary disadvantage of risk retention is that it can lead to significant financial exposure if the retained risks materialize, resulting in unexpected costs or losses. Organizations may underestimate potential risks or lack adequate reserves to cover them, which can strain financial resources. Additionally, relying on risk retention may limit opportunities for diversification and risk transfer, potentially compromising overall risk management strategies.
no of policies renewed/no of potential renewal policies
It is excessive salt intake (sodium) which can place an individual at risk of fluid retention.
cultural retention is where practices of the past follows into the present
When choosing between risk retention and risk transfer, key considerations include the organization's risk tolerance, financial capacity, and the potential impact of the risk on operations. Risk retention may be preferred if the likelihood of loss is low or if the costs of transferring the risk (such as insurance premiums) outweigh potential losses. Conversely, risk transfer is often favored for high-impact risks that could significantly disrupt business operations or financial stability. Additionally, regulatory requirements and the availability of viable transfer options can influence this decision.
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.)
You have to redo the job
The retention time represents the time it takes to an analyte to pass from the column inlet to the detector.
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.