Loss Control and Your Company
Small and midsized business throughout the country may or may not know what loss control is and how it can help their business's bottom dollar. Risk management by definition is 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. Other names for Loss control include risk control or risk safety. A perfect example of a loss control device is a smoke alarm. It is a device that aides in preventing or reducing the risk of further property damage or personal injury. As you can imagine there are several loss control devices and programs that can be instituted across all kinds of different business industries and sectors. The carriers that The Insurance Loft chooses to partner with often provide onsite loss control review and offer many programs and educational instruction to better prepare your company against potential loss. In the insurance industry we know losses and accidents are going to occur. That is why the industry stays in business and many contracts, loans, and requirements ask for certification of insurance. So the real key is how can companies reduce the potential of large and severe loss? That is where our carriers can help you devise a plan and allow your company to continue to operate as normal if a loss does occur. One of our carriers The Hartford has a short video for your review to make sure you starting thinking about your businesses loss control methods and programs. This short video depcits technology & Life Sciences Loss Control. We wanted to focus on this industry in particular as technology and life sciences firms are our specialty.