View the step-by-step solution to:



A business finds that employees are involved in many road accidents that result in damages

to its fleet of motor vehicles, despite having driving training and instruction. Rather than fully insuring its equipment, the business elects to insure its vehicles subject to a deductible of $1,500 per vehicle. Which approach to risk management does this plan reflect?

Question 6 options:


Risk retention


Risk reduction


Risk avoidance

Top Answer

Risk reduction... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question