Risk Transference

1. Risk Transference refers to the shifting of the burden of loss for a risk to another party through legislation, contract, insurance or other means. BL-B-5 Click to know more Related Terms: Risk Treatment, Residual Risk BCM Institute's Professional Training and Certification BCMBoK Competency Level BCMBoK 2: Risk Analysis & Review CL 2B: Intermediate (BC) BCMBoK Competency Level BCMBoK 2: Risk Analysis & Review CL 2C: Intermediate (CM) BCMBoK Competency Level BCMBoK 2: Risk Analysis & Review CL 2D: Intermediate (DR) Click to know more about expert level training (Source: Business Continuity Management Institute - BCM Institute)

A Manager’s Guide to ISO 22301 Standard for Business Continuity Management System

2. Refers to the shifting of the burden of loss to another party through legislation, contract, insurance or other means. It can also refer to the shifting of a physical risk or part thereof elsewhere.

(Source: Singapore Standard 540 - SS 540:2008)

3. A series of techniques describing the various means of addressing risk through insurance and similar products. This includes recent developments such as the securitisation of risk and creation of, for example, catastrophe bonds.

(Source: Business Continuity Institute - BCI)