Financial risk strategies: avoid, retain, share, transfer, prevent and reduce
CSP written lesson, 8 min read. CSP Domain 3: Risk Management
Written with AI help from the rules it covers, then fact-checked against them. Study aid, not site-specific safety advice. The official rule controls.
What you'll learn
- Define avoidance, retention, sharing, transfer, and loss prevention and reduction
- Classify a business decision under the right strategy
- Tell loss prevention (frequency) from loss reduction (severity)
- "Match a described decision to avoidance, retention, sharing, transfer, loss prevention or loss reduction"
- "Explain why outsourcing transfers cost but not a controlling employer's safety duties"
- "Describe indemnification and insurance requirements as contractual transfer, and check a certificate against contract minimums"
What this lesson covers
This lesson covers the financial risk strategies the CSP blueprint names and how to tell them apart. It matters because exam questions describe a decision and ask which strategy it is.
This lesson is included with a pass
Written lessons come with every CSP pass, along with the video lessons, the question bank, mocks and the tutor. $80 per exam for 6 months, or $143 for all three for 12 months.
Try the free risk financing, insurance and experience rating practice questions