Question

What are the alternatives to mitigate risk other than insurance?

Answer 1

$<font color="red"><b>$

hello...!

anSwer ↪

» the alternatives to mitigate risk other than insurance are ↪

⭐to use resources in a better way conveniently.

⭐sustainable development techniques and scemes should be followed.✔

...#thankà❤

Answer 2

This is a very broad question .. Ideally its a top down driven approach .

We must identify and define our risk strategy and outline clearly what is our risk appetite and the need for risk management at the corporate level.,

Once this is defined we can assign people , systems and process to monitor risk ..

Next we define we

(1) how we measure risk ,

(2) categorize and log them ,

(3) prioritize and set thresholds limits for them .

(4) Finally the risk mitigation strategies . ( this is where insurance pitches in ) (5) Enforce continuous monitoring and feedback loops by reports , dashboards , warnings , alerts etc.