MLchartDataset catalogue

Risk retention

Term · Insurance and risk management · MLC-T-INS-002985

The acceptance of financial responsibility for a potential loss rather than transferring it to an insurer or another party. This can be a conscious decision, such as through a deductible or self-insurance, or an unconscious one, by failing to insure against a known risk. It is a common risk treatment strategy for small, predictable losses.

Table 1. Record
IdentifierMLC-T-INS-002985
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002985",
  "term": "Risk retention",
  "field": "Insurance and risk management",
  "definition": "The acceptance of financial responsibility for a potential loss rather than transferring it to an insurer or another party. This can be a conscious decision, such as through a deductible or self-insurance, or an unconscious one, by failing to insure against a known risk. It is a common risk treatment strategy for small, predictable losses.",
  "url": "https://mlchart.com/terminology/insurance/risk-retention/"
}

Record 3,028 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.