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APPENDIX E GENERAL CONDITIONS AND ASSURANCES Revised 9/12/18, and updated 5/6/19, to reflect current insurance requirements in compliance with State of Nevada Risk Management applicant for funds administered
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Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events.
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The purpose of risk management in the state is to ensure that businesses and organizations are aware of potential risks and take measures to mitigate them.
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Information such as types of risks identified, mitigation strategies in place, and any incidents related to risk management must be reported.
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