Jerry is the Risk Manager of Awesome Automation Inc. As part…

Jerry is the Risk Manager of Awesome Automation Inc. As part of his duties, he is completing the Risk Management Process for the firm. Jerry spent weeks using identification methods to identify the most pressing risks facing the firm, and placed them all on a Risk Register. After that, he measured and analyzed all of the risks on the Risk Register to quantify each risk in terms of frequency, severity, and volatility.  Following the steps of the risk management process, what will Jerry do next? 

Suppose a firm faces a risk that is both very high frequency…

Suppose a firm faces a risk that is both very high frequency and very high severity. Unfortunately, this risk is associated with an activity that is essential to its business operations, meaning the activity must be continued or the business simply will not be able to operate at all.  Which of the following risk management strategies should this firm utilize to manage this difficult loss exposure?