The process of assigning risk to another enterprise, usually through the purchase of an insurance policy or by outsourcing the service. Scope Notes: Also known as risk sharing

A common technique used by Risk Managers to address or mitigate potential exposures of the organization. A series of techniques describing the various means of addressing risk through insurance and similar products.

A contractual arrangement between two parties for delivery and acceptance of a product where the liability for the costs of a risk is be transferred from one party to the other. [D01749]

Definition Shifting risk from one party to another; examples include purchasing insurance coverage or issuing debt.

The process of transferring responsibility for losses from one party to another, such as from an insured to an insurer.

The process of formally or informally shifting the financial consequences of particular risks from one party to another whereby a household, community, enterprise or state authority will obtain resources from the other party after a disaster occurs, in exchange for ongoing or compensatory social or financial benefits provided to that other party. C [..]

Risk transfer is the assumption of specific risk for a fee, or premium.

The process of moving the responsibility for the financial consequences of a risk from the public to the private sector.

Shifting the responsibility or burden for loss to another party through legislation, contract, insurance or other means.

The decision by a risk manager to transfer the burden of a loss to an insurance company by purchasing insurance or to some other person or group of persons.

The shifting of risk through insurance or securitization of debt because of risk aversion.