4. Risk retention. Risk retention occurs where risk is not transferred to others and is accepted deliberately, either unconscionusly or owing to the inability to transfer it to others (Cloutier,1998). It usually covers those risk that are low in both severity and frequency (Wilks and Davis,2000). Risk retention did not seem to form a major part of the risk management strategies of operators. Hibbert notes that operators may take risks on unconscionusly. for example one operator commented that in loss of equipment was part and parcel of the operation. This would explain the lack of risk retention strategies.