What Is Risk Retention?

Posted on November 24, 2020October 7, 2021Categories Risk RetentionTags , , , ,

In business, there will always be a certain amount of risk. Some businesses transfer this risk to a self insurance group to reduce costs and make the financial cost of these risks more predictable. The process of transferring these risks is known as risk retention. What It Does This process of transferring risk to a self insurance company or group protects assets from potential liabilities. For example, if an IT company gets hacked and they have the majority of that … Continue reading “What Is Risk Retention?”