Form of risk treatment (3.8.1) involving the agreed distribution of risk (1.1) with other parties.
NOTE 1 Legal or regulatory requirements can limit, prohibit or mandate risk sharing.
NOTE 2 Risk sharing can be carried out through insurance or other forms of contract.
NOTE 3 The extent to which risk is distributed can depend on the reliability and clarity of the sharing arrangements.
NOTE 4 Risk transfer is a form of risk sharing.
Source: ISO Guide 73:2009(E/F), Risk Management – Vocabulary, First Edition, 2009. Global Standards