What does Loss Reduction mean? Read on to discover the definition & meaning of the term Loss Reduction - to help you better understand the language used in insurance policies.
Loss reduction is the practice of using techniques to reduce risk for various assets. Many companies use loss reduction strategies to try to prevent themselves from experiencing major losses. For example, a company many install sprinklers in its buildings to reduce the risk of a fire completely destroying the building by spreading from room to room unchecked.
We hope the you have a better understanding of the meaning of Loss Reduction.