Racers Mart manufactures and sells racing equipment used by professional and amateur race car drivers. The products, such as safety harnesses, roll cages and Other car modifications are sold directly to independent retailers in the United States. The company's risk manager knows that the company could be sued il a safety device is detective, and someone is injured. Because the cost of products ability insurance has increased, the risk manager is considering other techniques to treat the company's loss exposures For each of the following risk management techniques describe a specific action using that technique that might be helpful in dealing with the company's producte lability exposure 1. Avoidance 2. Loss prevention 3. Lons reduction 4. Noninsurance transfers Racers Mart manufactures and sells racing equipment used by professional and amateur race car drivers. The products, such as safety harnesses, roll cages and Other car modifications are sold directly to independent retailers in the United States. The company's risk manager knows that the company could be sued il a safety device is detective, and someone is injured. Because the cost of products ability insurance has increased, the risk manager is considering other techniques to treat the company's loss exposures For each of the following risk management techniques describe a specific action using that technique that might be helpful in dealing with the company's producte lability exposure 1. Avoidance 2. Loss prevention 3. Lons reduction 4. Noninsurance transfers