Loss-control activities

(redirected from Loss Control Activity)

Loss-control activities

Actions that an insured person or company takes at the instigation of an insurance company in order to prevent accidents or losses.

Loss-Control Activities

In insurance, actions taken by a policyholder at the behest of the insurance company to ensure that reasonable steps are taken to avoid a situation on which a claim might be made. For example, if a loss-of-income insurance policy covers a situation in which an employee's long-term injury results in a loss of production, the insurance company may require the policyholder to put in place appropriate safety measures to minimize claims. One does not conduct loss-control activities for policies that cover loss of income due to acts of God, such as tornados or hurricanes, but rather for policies covering primarily or exclusively foreseeable incidents.
References in periodicals archive ?
One enhancement planned for 2014 is an alert capability for agents around loss control activity. "We wanted to provide agents information about loss control visits to their accounts so that they can know when an inspection has taken place, gain insight into the inspection, access updated reports, and so on," O'Rourke says.
These actions include, but are not limited to, rate strengthening, underwriting tightening, expense reduction and loss control activity. Management also has non-renewed a sizable portion of the poorest performing accounts.
In a change from 1994 findings, safety and loss control activity emphasis has shifted from employee safety and property protection to public safety and environmental loss control.