what is risk retention
In the insurance world, risk retention has an even broader meaning. Simply put, every time your policy calls for a deductible, you've retained some of the risk. In fact, risk retention is a common strategy for businesses and individuals alike. Here again is another form of risk retention. The very act of not insuring something of value is another form of risk retention. General liability and products/completed operations policies have either deductible or self insurance retentions (SIR), both of which are forms of risk retention.