The Silver Drive company is a taxi operator in Singapore, which owns a fleet of 5,000 cars. The risk manager is considering a partial retention program for physical losses to company cars.

a. Identify the factors that the company should consider before it adopts a partial retention program for physical damage losses to company cars.

b. If a partial retention program is adopted, what are the various methods the company can use to pay for physical damage losses to company cars?

c. Identify two risk-control measures that could be used in the company’s partial retention program for physical damage losses