Explain two types of risk financing techniques

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The Smith family, which consists of two parents and a one-year-old son, recently moved into a single home that includes a two-car garage, a garden shed, and a swimming pool. Their parents and their insurance agent counseled them that this is an important event in their lives and that, as new homeowners, they should make a conscious effort to use a structured risk management process to assess their loss exposures and develop and implement a risk management plan to manage them. They decide to undertake this project

question: Explain two types of risk financing techniques.

Reference no: EM131696852

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