ASSIGNMENT 3 1. What is the meaning of risk management? 2. Explain how deductibles can be used to prevent adverse selection in an insurance policy. 3. Describe the steps you will take in implementing a risk management program at UPSA. 4. a. Identify the sources of information that a risk manager can use to identify loss exposures. 5. What is the difference between the maximum possible loss and probable maximum loss, using UPSA as an example? 6. What is the difference between captive insurance and non-insurance transfers