Transferring Risks With Insurances 3816762268780510832-blid-37819505459578856

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Transferring risk refers to shifting the risk in whole or in part from you to another party. The most common form of transfer is the insurance mechanism whereby, in exchange for a predetermined premium payment, an insurance company will assume losses that you would've otherwise had to absorb yourself. Here's an example: You transfer the risk of fire damage to your home to an insurer for $800 a year.