Answer to Question #118558 in Management for Naresh Kumar

Question #118558
Risk___is the term used to describe when an organisation bears its own risk and is willing to withstand the fin losses from any claims that arise?
1
Expert's answer
2020-05-28T07:12:58-0400

The answer is Yes. A company is said to be self insured against a risk when it uses a highly formalized method of retention of a risk. It means that the company bears the risk of all loses that maybe incurred and can pay the losses accrued.


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