Differentiate between active risk retention, passive retention, and self-insurance.

Expert Solution

Active risk retention refers to the known decision to keep responsibility. Whereas, in the case of passive retention a person retains the exposure to the loss, but may be unaware. Such a situation may arise when a person doesn’t properly identifies the loss or underestimate the loss exposure. As far as self-insurance is concern, it’s a retention program for organizations with many loss exposures and potentially large exposures to losses.

keosha answered 2 years ago

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