INTRODUCTION
top
Inspection
In property
and casualty insurance, the insurer retains the right to make
inspections and surveys relating to the insurability of the risk and
the premiums charged. For example, the insurer may look for inherent
structural defects and other hidden hazards. Inspections provide the
opportunity to develop a loss prevention program for the insured.
The
in-person evaluation of an individual risk to determine whether it
meets underwriting standards and to gather pertinent underwriting
information. An inspection may be performed by an agent or by a loss
control specialist employed by the insurer. It may result in
recommendations for loss prevention.
Loss
control / prevention
Prevention
and reduction of losses. An insured, often in consultation with an
underwriter or loss control specialist, takes measures to reduce the
frequency of losses and to minimize the financial impact or severity
of a loss.
Loss control specialist
A person charged with the responsibility
of controlling losses, often called a loss prevention engineer or
safety consultant. The title of loss prevention engineer is usually
associated with property loss prevention. A safety consultant usually
focuses on employee or public safety.
Loss prevention services
Survey, consultation or loss control management
services provided to policyholders by an insurer to reduce the
likelihood of accidents.
Also refer to:
RESOURCES &
SUPPLIERS
top
|
