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The American Heritage Dictionary of Business Terms » risk retention
risk retention
risk retention definition - business
risk retention
The assumption of certain risks as opposed to paying another party to assume the risks. For example, a corporation may decide to pay the health expenses of its employees rather than purchase a health insurance plan. Similarly, an individual with an older vehicle may decide to retain the risk of damage to the vehicle and forgo collision and comprehensive insurance.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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