Answer to Question #118558 in Management for Naresh Kumar

Question

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?

Answer 1

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.