loss control

Definition

Actions performed by the insured to reduce the chance of a loss or the extent of a loss, for example, locking valuables in a safe or keeping fire extinguishers in a home or business.

Use loss control in a sentence

You need to always be trying your best to prevent the loss control so that you are not in a bad position.

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The loss control team just did a training session to teach all of the staffers how to follow the new procedures for using the time-lock safes to reduce the loss in the event of a robbery.

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Inspecting and servicing old equipment can be time consuming, but are essential for loss control and reducing expenses related to manufacturing delays or producing defective products.

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loss carryover Associate in Loss Control Management (ALCM)