What does Loss Control mean? Read on to discover the definition & meaning of the term Loss Control - to help you better understand the language used in insurance policies.
A risk management technique that seeks to reduce the possibility that a loss will occur and/or reduce the severity of those that do occur. Also known as risk control or safety. Driver training programs are loss control programs that seek to reduce the likelihood of accidents occurring. Sprinkler systems are loss control devices that reduce the severity of loss by fire.
We hope the you have a better understanding of the meaning of Loss Control.