MONDAY, NOVEMBER 7, 2016
An adequate loss control program should help:
* policyholders reduce claims, and
*insurance companies reduce losses through safety and risk management information
In the insurance realm, establishing a loss control program is most commonly achieved by working with a loss control representative that will evaluate loss exposures and assist in identifying and developing safety programs and cost-effective methods for risk and asset management.
Many carriers have their own loss control departments, however there are also third-party companies that offer these services.