Risk Avoidance
/ˈrɪsk əˌvɔɪdəns/
Definitions
- (n.) A risk management strategy involving actions to eliminate hazards or avoid risk exposure entirely.
The company adopted risk avoidance to prevent any potential liability from hazardous operations.
Forms
- risk avoidance
Related terms
See also
Commentary
Risk avoidance is distinct from risk mitigation and risk transfer as it seeks to completely eliminate exposure rather than reduce or shift it.
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