Risk avoidance is not performing any activity that may carry risk. Risk avoidance is a negative way to handle risk
Risk retention - to bear the risk and its effects by oneself. This is known as self-insurance.
Risk reduction and control - taking steps to lower the chance of occurrence of a loss and/or to reduce severity of its impact if such loss should occur.
The measures to reduce chance of occurrence are known as Loss Prevention. The measures to reduce degree of loss are called Loss Reduction
Risk reduction involves Education and training, Making Environmental changes, spreading out various items of property into varied locations etc
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