Insurance Glossary

Insurance Term - Loss Control

All methods that are taken to reduce the frequency and/or severity of losses including exposure avoidance, loss prevention, loss reduction, segregation of exposure units and non-insurance transfer of risks is termed as Loss Control. 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 risks, loss control, risk retention, self insuring, and other techniques that minimize the risks of a business, individual or an organization are included under Loss Control.

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