2. The Swift Corporation has 5,000 sales representatives and employees in the United States who drive company cars. The company's risk manager has recommended to the firm's management that the company should implement a partial retention program for physical damage losses to company cars. a. Explain the advantages and disadvantages of a partial retention program to the Swift Corporation. b. Identify the factors that the Swift Corporation should consider before it adopts a partial retention program for physical damage losses to company cars. c. If a partial retention program is adopted, what are the various methods the Swift Corporation can use to pay for physical damage losses to company cars? d. Identify two risk-control measures that could be used in the company's partial retention program for physical damage losses. 3. Avoidance is a risk-control technique that can be used effectively in a risk management program. a. What is the major advantage of using the technique of avoidance in a risk management program? b. Is it possible or practical for a firm to avoid all potential losses? Explain your answer. 4. A risk management program must be implemented and periodically monitored to be effective. This step requires the preparation of a risk management policy statement. The cooperation of other departments is also necessary a. What benefits can the firm expect to receive from a well-prepared risk management policy statement? b. Identify several departments within a firm that are especially important in a risk management program. 2. The Swift Corporation has 5,000 sales representatives and employees in the United States who drive company cars. The company's risk manager has recommended to the firm's management that the company should implement a partial retention program for physical damage losses to company cars. a. Explain the advantages and disadvantages of a partial retention program to the Swift Corporation. b. Identify the factors that the Swift Corporation should consider before it adopts a partial retention program for physical damage losses to company cars. c. If a partial retention program is adopted, what are the various methods the Swift Corporation can use to pay for physical damage losses to company cars? d. Identify two risk-control measures that could be used in the company's partial retention program for physical damage losses. 3. Avoidance is a risk-control technique that can be used effectively in a risk management program. a. What is the major advantage of using the technique of avoidance in a risk management program? b. Is it possible or practical for a firm to avoid all potential losses? Explain your answer. 4. A risk management program must be implemented and periodically monitored to be effective. This step requires the preparation of a risk management policy statement. The cooperation of other departments is also necessary a. What benefits can the firm expect to receive from a well-prepared risk management policy statement? b. Identify several departments within a firm that are especially important in a risk management program