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Scaffold Equipment manufactures and sells scaffolds and ladders that are used by construction firms. The products are sold directly to independent retailers in the United
Scaffold Equipment manufactures and sells scaffolds and ladders that are used by construction firms. The products are sold directly to independent retailers in the United States. The company's risk manager knows that the company couild be sued if a scaffold or ladder is defective and someone is injured. Because the cost of product liability insurance has increased, the risk manager is considering other techniques to treat the company's loss exposures.
Identify and explain two noninsurance risk management techniques that could be helpful in dealing with the company's product liability exposure. Please be specific about the risk management techniques category as introduced in this course eg instead of using "loss control", you will need to be specific about whether it is separation, avoidance, or loss prevention, etc. and describe specific actions the firm should perform using the techniques you recommended.
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