Loss prevention and control definition

Loss prevention and control means any managerial system or systems intended to identify potential or actual loss situations and the implementation of a strategy or strategies to prevent or manage losses. These systems work to achieve reduction in the frequency and costs associated with losses and the elimination of the causes which allow the losses to occur. Loss situations may be bodily injury, death, property damage, employment- related civil rights violations, or other types of potential or actual liability covered under insurance or self-insurance programs. Examples include, but are not limited to the following situations:
Loss prevention and control means any managerial system or systems intended to identify potential or actual loss situations and the implementation of a strategy or strategies to prevent or manage losses. These systems work to achieve reduction in the frequency and costs associated with losses and the elimination of the causes which allow the losses to occur. Loss situations may be bodily injury, death, property damage, employment-

Related to Loss prevention and control

  • Hostile environment means a situation in which bullying among students is sufficiently severe or pervasive to alter the conditions of the school climate;

  • Waste Framework Directive or “WFD” means Waste Framework Directive 2008/98/EC of the European Parliament and of the Council on waste

  • Traffic control signal means a device, whether manually, electrically, or mechanically operated, by which traffic is alternately directed to stop and permitted to proceed.