Avoidance

Term · Insurance and risk management · MLC-T-INS-000511

A risk management technique that involves eliminating the possibility of loss by choosing not to engage in an activity or own an asset that carries a specific risk. This strategy completely removes the exposure to a particular hazard. For example, a company might avoid manufacturing a product if the liability risks are deemed too high.

Table 1. Record
Identifier	MLC-T-INS-000511
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-000511",
  "term": "Avoidance",
  "field": "Insurance and risk management",
  "definition": "A risk management technique that involves eliminating the possibility of loss by choosing not to engage in an activity or own an asset that carries a specific risk. This strategy completely removes the exposure to a particular hazard. For example, a company might avoid manufacturing a product if the liability risks are deemed too high.",
  "url": "https://mlchart.com/terminology/insurance/avoidance/"
}

Record 262 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.