What is the process of limiting a company's exposure to liability?

Risk management involves identifying, assessing, and mitigating risks that could result in liability. This process includes:

Implementing safety procedures and compliance measures.

Training employees on risk mitigation strategies.

Developing emergency response and contingency plans.

Why the other options are incorrect:

(B) Risk avoidance seeks to eliminate risk altogether but is not always feasible.

(C) Liability management is a subset of risk management but does not encompass the entire process.

(D) Limited liability analysis is a financial strategy, not a risk mitigation process​.