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You are the risk manager for a company that has liability risks related to operations and/or facilities. For example, customers may be injured at the
You are the risk manager for a company that has liability risks related to operations and/or facilities. For example, customers may be injured at the premises; but these kinds of incidents seldom happen. However, when they do occur, the resulting financial loss from a liability lawsuit could be significant. What strategy would you recommend, using the risk management decision-making matrix, to deal with this risk?
- A. The company should avoid this loss.
- B. The company should retain the financial responsibility to fund such losses internally.
- C. The company should implement loss reduction and purchase insurance to cover this loss.
- D. The company should implement a loss prevention plan.
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