Loss Control

Loss control is a collective term for all methods and steps that are taken to reduce the frequency and/or severity of losses including exposure avoidance, loss prevention, loss reduction, segregation of exposure units and noninsurance transfer of risk. A combination of risk control techniques with risk financing techniques forms the nucleus of a risk management program. The use of appropriate insurance, avoidance of risk, loss control, risk retention, self insuring, and other techniques that minimize the risks of a business, individual, or organization.

Nearby pages
Loss on Security Provisions, Loss Ratio, Loss Reserve, Losses and Loss-Adjustment Expenses, Losses Incurred