Question 1 of 30
A technology company is assessing its risk management strategies in light of a recent data breach that exposed sensitive customer information. The management team is considering various approaches to mitigate future risks. They have identified four potential strategies: transferring the risk through insurance, avoiding the risk by discontinuing certain services, mitigating the risk by enhancing security protocols, and accepting the risk with a contingency plan. Which strategy is most effective in ensuring that the company can continue operations while minimizing potential losses from similar incidents in the future?
Transferring the risk through insurance
Avoiding the risk by discontinuing certain services
Mitigating the risk by enhancing security protocols
Accepting the risk with a contingency plan

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