04 Jun FIS 250 Week 1 CheckPoint Risk Management Methods
CheckPoint: Risk Management Methods
Recall that there is more to handling risk than just purchasing insurance. The five major methods for handling risk include avoidance, loss control, retention, noninsurance transfers, and insurance. Knowing which risk management method to choose is key to avoiding and minimizing losses (Rejda, 2008).
Complete the Case Application activity on p. 14 of the text to identify the risk management techniques appropriate for selected risks and loss exposures. For each letter item, identify the risk management technique you chose and your reason for selecting that technique.
Rejda, G. E. (2008). Principles of risk management and insurance (10th ed.). Boston, MA: Pearson Addison Wesley.
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