Final answer:
Risk control involves taking measures to prevent, reduce, or transfer losses. It aims to minimize the frequency and severity of losses. Examples include insurance and efforts to prevent errors and mistakes.
Step-by-step explanation:
Risk control involves taking measures to prevent, reduce, or transfer losses. It aims to minimize the frequency and severity of losses. For example, insurance is a form of risk control where individuals transfer the financial risk of certain events to an insurance company.
Risk control also includes efforts to prevent errors and mistakes. By implementing proper procedures and protocols, organizations can minimize the occurrence of errors that could lead to losses.
Overall, risk control plays a crucial role in ensuring the financial stability and security of individuals and organizations.