Page 53 - RISK Management IC86 Ebook
P. 53
The Insurance Times
everyone employed by or associated with the work of an
organisation.
Risk reduction
n Money spent on implementing risk reduction measures will
be the most cost effective because the likelihood or the severity
of loss will be reduced by such measures.
Risk Avoidance
n Such measures are only effective when there is no exposure
to hazard. This means that in most cases the decision to avoid
a risk must be taken in the planning stages of a project.
Risk Spreading
n Spreading the exposure by breaking the exposure into a number
of smaller separate entities and distributing these over a wide
area on the same site or by placing each entity on a separate
site will spread the risk.
Risk Control
n Risk control has often been regarded as synonymous with
risk management, but it is in fact one of the techniques used
as part of the overall process.
Website: www.bimabazaar.com Call: 033-22184184 / 40078428 54
Copyright@ The Insurance Times. 09883398055 / 09883380339
