What does Risk Avoidance mean? Read on to discover the definition & meaning of the term Risk Avoidance - to help you better understand the language used in insurance policies.
Risk avoidance is an area of risk management where the goal is to eliminate a risk and not just reduce it. Rather than mitigating existing risk, it aims to eliminate the source of the risk altogether, sometimes replacing it with a smaller, more easily manageable risk.
We hope the you have a better understanding of the meaning of Risk Avoidance.