Definition of Risk avoidance:
Technique of risk management that involves (1) taking steps to remove a hazard, (2) engage in alternative activity, or (3) otherwise end a specific exposure. Also called avoidance of risk.
How to use Risk avoidance in a sentence?
- Our company is adopting a new policy of risk avoidance so we have decided to stop working with suppliers in dangerous areas or third world countries.
- The owner of the new company decided against the purchase at this time because of the possible loss it would suffer if the new product did not sell, which he considered a risk avoidance and felt good about his decision.
- The mortgage company wanted to stress risk avoidance . They did not want to underwite loans that had any risk to them.
Meaning of Risk avoidance & Risk avoidance Definition