GI and Risk response: Difference between pages
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imported>Doug Williamson (Created page with "1. ''Risk management - transferring & pooling risk - insurance.'' General Insurance. 2. ''Bank supervision - capital adequacy - operational risk''. Gross Income, as part...") |
imported>Doug Williamson (Create the page. Source: ACT Glossary of Terms. Linked to The Treasurers Handbook - Guide to risk management) |
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A choice in relation to an identified risk which can be categorised broadly as the decision whether to: | |||
# Avoid the risk, or | |||
# Accept it. | |||
The broad choice to 'accept' a risk can be further classified according to whether the firm then retains, reduces or transfers the risk. | |||
Using this model, the classes of potential risk responses are therefore four, namely: | |||
# Avoid | |||
# Accept and retain | |||
# Accept and reduce, or | |||
# Accept and transfer. | |||
==See also== | ==See also== | ||
*[[ | * [[Risk assessment]] | ||
*[[ | * [[Risk evaluation]] | ||
*[[ | * [[Risk identification]] | ||
*[[ | * [[Risk management]] | ||
* [[Risk reporting]] | |||
* [[Risk | * [[Guide to risk management]] | ||
*[[ | |||
[[Category: | [[Category:Financial_risk_management]] | ||
[[Category:Manage_risks]] | [[Category:Manage_risks]] | ||
Revision as of 10:10, 19 November 2014
A choice in relation to an identified risk which can be categorised broadly as the decision whether to:
- Avoid the risk, or
- Accept it.
The broad choice to 'accept' a risk can be further classified according to whether the firm then retains, reduces or transfers the risk.
Using this model, the classes of potential risk responses are therefore four, namely:
- Avoid
- Accept and retain
- Accept and reduce, or
- Accept and transfer.
