Question

How can a business save on premium paid to insurance companies while also mitigating risk effectively?

A)by covering all the risks that a business could face

B)by having a higher deductible

C)by choosing an unlicensed insurance agent

D)by making sure no employees take risks in the business

Answer 1

the answer is b

Step-by-step explanation:

Answer 2

The correct answer is

A)by covering all the risks that a business could face

Step-by-step explanation:

Avoidance of risks is a risk mitigation stategy which includes establishing policies and procedures that assists the organization to foresee and avoid high-risk situations. These foreseen events might be avoided by exiting the market, screening products or processes for possibility of failure.