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.
- Opta Information Intelligence – iClarify providing info for residential and commerial risks, Sitelines for property inspection reports, CTS for Commercial claims info, Fire Underwriters Survey (FUS) and HITS for personal property claims info
- Quest Loss Control Services
- Risk Logic Inc.
- Risk Management Services (RMS)
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