Page 21 - Insurance Glossary 100 Terms - Sashi Publications
P. 21
Risk Policy: A formal statement defining the
approach to managing risks within an
organization.
Risk Register: A tool used to document
risks, their severity, and actions to manage
them.
Risk Retention: Accepting the risk when the
cost of mitigation is higher than the impact of
the risk.
Risk Tolerance: The degree of variability in
outcomes that an organization can withstand.
