What is the risk assessment activity that involves monitoring existing risks?

The activity involved in monitoring existing risks is known as post-selection. This phase of risk assessment is crucial because it focuses on continuously reviewing the risks associated with particular policies or practices after they have already been implemented. Post-selection allows for the identification of any new risks that may arise or the changes in the scope or impact of existing risks.

By consistently monitoring and reviewing risks, brokers can ensure that risk management strategies remain effective and relevant. This ongoing assessment is essential for adapting to new information or changing conditions, which helps in making informed decisions about insurance coverage and client needs moving forward.

In contrast, the other options—pre-selection, selection, and review—focus on different stages of the risk assessment process. Pre-selection typically involves the initial identification and assessment of potential risks before choosing a course of action. Selection refers to the process of making decisions based on the risk evaluation, and while review does relate to assessment, it is typically part of the broader post-selection stage, rather than directly addressing the monitoring of risks.