Risk retention can be complete or partial. Using a deductible as a way to reduce your property insurance premium is a partial retention. A decision not to buy insurance for damage caused by earthquake leaves you bearing the whole risk. Risk control limits the impact or chance of a loss occurring. Risk prevention may include proper equipment maintenance, fire safety programs, and employee safety plans.
Risk reduction limits the severity of a loss.
Loss reduction programs include wearing seat belts, fire alarms, and backup generators. In an aquaculture operation, risk control techniques are vital. A loss today affects profits as much as 36 months from now. Smolt today will generate profit down the road. In many operations the impact of a loss could be felt for several years.