Why Risk Transfer?
We rely on third-party organizations to deliver services and resources every day. This interaction creates a business relationship that can sometimes establish liability for the actions of a third party for the initial party. Often the legal complaint is an allegation of negligence by the initial party.
A property owner decides to lease out the gymnasium on their property on the weekends. The tenant decides to host semi-professional basketball tournaments in the gymnasium and invites the public onto the property without notifying the owner. Unfortunately, an attendee of one of the tournaments fell from the bleachers and suffered severe injuries that left the individual disabled and requiring care for the rest of their life.
Step 1: Assess Your Current Risk on Your Contracts
*Make sure you are logged in to proceed to the self-assessment
Step 2: Take a Course on Risk Transfer
As a supervisor responsible for your organizations risk management, it is important that you understand Risk Transfer and Loss Control practices.