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Risk transfer is a process by which you are transferring potential risk of a loss or financial liability for some kind of accident or other type of injury and you’re transferring that over to another party who will protect your interest either via a contractual mechanism or via some type of insurance mechanism. But it’s critical for clients to be able to identify potential risk in running their business and determine the best mechanisms by which to protect their overall financial growth and moving forward as a company.
Phoenix, AZ commercial litigation attorney Suzette Doody explains “risk transfer” and how she uses it to help her clients.