Insurance risk management

{
  "id": "MLC-T-INS-001865",
  "term": "Insurance risk management",
  "field": "Insurance and risk management",
  "definition": "The systematic process of identifying, assessing, and controlling risks that could lead to financial losses for an individual or organization, often involving the transfer of these risks to an insurer. It encompasses strategies such as risk avoidance, reduction, retention, and transfer through insurance policies. Effective risk management aims to minimize the frequency and severity of losses.",
  "url": "https://mlchart.com/terminology/insurance/insurance-risk-management/"
}