risk transfer

  

Definitions (2)

1.Risk management strategy in which an insurable risk is shifted to another party (the insurer) by means of an insurance policy.
2.Risk shifting through non-insurance means, such as a warranty. See also transfer of risk rule.

Use risk transfer in a sentence

  • The risk transfer was finally allowed and the company was ecstatic that they were no longer burdened with the responsibility.

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  • We decided to go with a risk transfer because we could not handle it in our own party and thought the other one could work with it better.

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  • You should always understand how a risk transfer might effect you and do your best to be prepared for it.

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