Discuss any three ways as how risks can be reduced in India.
Answers
Answer:
The basic methods for risk management— avoidance, retention, sharing, transferring, and loss prevention and reduction—can apply to all facets of an ..
Explanation:
Avoidance means not participating in activities that could harm you; in the case of health, smoking is a good example.
Retention acknowledges the inevitability of certain risks, and in terms of health care, it could mean picking a less expensive health insurance plan that has a higher deductible rate.
Sharing risk can be applied to how employer-based benefits are often more affordable than if an individual gets their own health insurance.
Transferring risk relates to healthcare in that the cost of the care is transferred to the insurer from the individual, beyond the cost of premiums and a deductible.
Loss prevention and reduction are used to minimize risk, not eliminate it—the same concept is used in healthcare with preventative care.