Week 4 – Non-insurance Methods for Risk Management

In a brief written essay respond to the following:

1. Identify one risk in your life that can be primarily managed by each of the following Risk Management Techniques. (Four risks in total).

  • Risk Avoidance
  • Loss Control
  • Risk Retention
  • Risk Transfer

2. Use the 5 steps of Heinrich’s Domino Theory to explain an accident that has occurred in your life. Is there a step at which this accident could have been prevented?

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