Loss Control

Loss control is a risk management technique that seeks to reduce the possibility that a loss will occur and reduce the severity of those that do occur. A loss control program should help reduce claims, reduce losses through a safety and risk management program.

Cost control strategies, plan design and program development are the areas of concentration that have allowed us to positively impact the bottom line for thousands of our partners who strive to significantly reduce their insurance costs. Our solutions are innovative, aggressive and designed to provide maximum program impact.

Loss control in any organization is achieved through commitments of all personnel in the organization, top to bottom. It emphasizes safety procedures and practices, training and monitoring.

Loss control systems include the following:

Implementation of a loss control policy
Assignment of duties and responsibilities
Review of claims data
Audits and inspections
Accident reporting and investigation
Communications Development and review of emergency and contingency plans

Loss control provides the following benefits:

Minimizes losses of equipment and property while protecting assets
Minimize frequency and severity of accidents
Reduces expenditures of insurance claims
Minimizes interruptions of services
Provides a safe environment for employees
Provides a resistance against claims of negligence

Loss Prevention:

Loss prevention refers to the measures used to prevent loss of life, health, and property arising from an incident or accident. The aim of loss prevention is to prevent any accident and reduce the risks of hazards in the workplace. It helps by saving lives and physical properties, prevents workers from pain and suffering, and avoids unnecessary expenditure through safety departments. The goal of loss prevention in any organization is to reduce accidents to as close to zero as possible. It helps to develop safe work environments through employee habits, safety culture and improved employee attitudes. It facilitates a reliable and fast communication channel between employees and management. It also highlights on the use of safe machinery, observation of safety procedures and practices, safety training and monitoring.

Accident Prevention:

Accident prevention refers to the plans, preparations, and actions taken to avoid accidents or stop them from taking place.

Accident prevention includes all measures taken in an effort to save lives, escape from injury, lessen the degrees of injury, avoid damage to property, reduce treatment and compensation costs, and prevent the loss of productive time and morale.

The old proverb that "an ounce of prevention is better than a pound of cure" holds true for workplace accidents. It is much better to prevent an adverse event from happening than to try to fix the damage after it has already happened.
While it's impossible for employers to predict every single accident, it is their duty to anticipate that accidents will happen and put control measures in place to prevent them or lessen the damage they cause. They have a legal obligation to comply with the laws, standard practices, and safety observations to avoid emergencies and accidents.
Many accidents occur due to human factors, such as:

Unsafe behavior
Inattention
Negligence
Lack of knowledge
Inadequate training

Working conditions is another leading factor of accidents. Unsafe working conditions can include faulty machines, bad work design, substandard processes, and occupational hazards.

Accidents will continue to happen if preventative measures are not taken. Accident prevention can be achieved by commitment and cooperation between management, safety programs, safety culture, and accountability. Prevention requires the following actions:

Conducting a risk assessment to identify hazards
Using research and development to optimize work processes and eliminate hazards
Taking unsafe machinery and tools out of service immediately
Improving working conditions and the workplace environment
Ensuring all employees have the right training

Accident Investigation:

Accident investigation is a process of systematic collection and analysis of information relating to an accident that led to the loss of property, time or health of individuals, or even the loss of lives.

Accident investigation is the scientific and academic analysis of the facts that occurred during an accident. An investigation is conducted to identify the “root cause” of an accident in an effort to make recommendations or take corrective actions to prevent the future occurrence of the same or a similar event.

Accident investigations reveal the usefulness of safety programs in any organization. Coming to a conclusion in finding root causes of accidents assists in recommending ways to prevent the same accident from reoccurring.
Accidents are investigated by on-scene supervisors and professional safety professionals with experience in the related field. In some organizations, there are dedicated accident investigators and well-equipped teams to handle the aftermath of accidents. These employees have sufficient training and experience to investigate into an accident. Some organizations also use special templates for reporting accidents that contain root causes and also recommendations. A worthy investigation may disclose certain contributing factors and recommend several preventive measures.

Accident reports are generally composed of the following:

A general description of the environment: what, when, where, who, how the accident happened
What factors contributed to the accident. Including the state of individual, work related and management factors, etc.
How to prevent future occurrences of similar events
All who have been involved in the accident, investigation and reporting, etc.