There is no way completely to compensate for the pain, suffering, dismemberment, or disfigurement that may result. Looking for ways to prevent injuries is the key. Retention, Assumption or Acceptance of Risk. These methods must be of particular interest to an operation as large as the University. Too many risks are accepted unintentionally through unawareness of the exposure.
Many risks have to be retained because there is no other choice.
Hazards due to the acts of nature. Today, with the many new concepts of insurance, it is possible to insure against almost any risk except war and taxes if one is willing and able to pay the premium. It is not, however, always economical to do so. Therefore, some risks are retained, assumed, or accepted. The importance and economic value of risk is periodically reviewed in relationship to the size of the operation.