What is the goal of implementing measures in risk control?

Study for the CII Certificate in Insurance - Introduction to Risk Management (I11). Review key concepts, understand risk principles, and test your knowledge with multiple choice questions.

The primary goal of implementing measures in risk control is to mitigate or eliminate risks. This is achieved through various strategies and actions designed to reduce the likelihood of a risk occurring or minimizing its impact should it happen. Effective risk control measures involve identifying potential risks and taking proactive steps to address them, thus protecting the organization’s assets, reputation, and overall stability.

Mitigation can include a range of activities such as implementing safety protocols, conducting regular training, improving internal controls, or even transferring risk through insurance. The focus is on creating a safer environment and lessening the potential negative effects of uncertain events.

Other options, while relevant to risk management, do not directly capture the central purpose of risk control measures. Documenting risks is important for understanding and tracking potential issues but doesn't directly address how to manage them. Enhancing communication about risks can improve awareness within an organization but is also a supportive function rather than a primary goal. Finally, increasing the likelihood of risk occurrence contradicts the objectives of risk control entirely, as these measures are developed to reduce risk, not exacerbate it.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy