Answer:
False. It is mitigation.
Step-by-step explanation:
Mitigation is direct effort of the organisation who is responsible for the damage to mitigate (reduce) its results. The organisation might not be responsible for the cause of the damage, such as a natural disaster, but it takes care of the resulting damage.
During transference, it would transfer responsibility for the damage reduction to some other organisation. This is what happens when an insurance company takes care of the damage.