Loss Prevention under Insurance

Mataracy

VIP Contributor
Under this policy; Fire surveyors are trained to identify sources of potential risk in the production process, storage of materials and use of electricity, etc.
They make recommendations which will limit the incidence of loss from these sources to a minimum.
Theft surveyors make recommendations for the protection of property against thieves. The protective devices installed on their recommendation will deter many casual thieves, again reducing the number of losses.

In a similar manner,the liability surveyor will endeavor to advise the businessman of employer in a ways to prevent claims from the public, due to their operations or products,or from employees, dye to unsafe conditions of work.
Ideally, these expert should be consulted at the planning stage of a project, but as jet too fee architects and planners realize the valuable help which is available to them and clients.
The recommendations will require to be incorporated into the building or plant at a later fate in any event, and it is much less costly to have the loss prevention measures incorporated at the building stage.

Pressure and lifting plants and ships are required by statute to be inspected by competent engineers and these people are often employed by insurance companies. These types of plant are usually inspected during construct and again at a frequent intervals during their lifetime. The major way by which insurers present losses is through research and liaison.

Research and Liaison: insurers activity contribute to research into the prevention of loss and liaise with various public and private bodies in this connection.
 

Jamoflondon

Verified member
You are very right with your explanation up there in your post, especially the part you talked about plants. I totally I agree with you on what you said about inspecting plants even though I don’t know much about plants and its inspection but I really appreciate your post because it’s informative.
 

Mandy96

Valued Contributor
Is this loss prevention part of the insurance policy generally or it’s just something that you think should be the way you think it is. I really do not know much about insurance policy but this is surely do not look like insurance policy but if it an insurance policy then this is great and you have done great by educating us on this.
 

btaliat

VIP Contributor
If the insurance will still send some people that will try to prevent loss from happening, then what's the need for insurance? I can as well so what they want to do to prevent loss instead of paying premium for them for making sure that all what I insure against never come to pass.
 

Wisdom01

Valued Contributor
I don't think the insurance companies would actually have someone who would be in charge of that ,the loss prevention scheme depends on what the person is insuring against , because there are some risk that might not likely occur or night likely occur they are of two ways I think so the loss I dependent on that
 

Alexandoy

VIP Contributor
I don't think we have the loss prevention system here for the insured. That would be great for the insurance company because fire insurance here usually have claims caused by suspected arson or neglect. The fire chief said that when the fire was caused by neglect then the insurance company will have no liability.
 

Lens1000

VIP Contributor
Putting a preventive measures in place by the insurer on the insured is a great idea. This will help the insurance company in miximixing profits. The profit incurred will be very high if an effective preventive plans are put in place to prevent damages to the insured. This means, the chance of the insured claiming benefits is very slim
 

Good luck

Verified member
If necessary care is not ascertain,there will always be loss prevention under insurance.A lot of people have loss out in their insurance policy or plan due to errors made somehow.Prevention of loss should be taking seriously so as not to have problems in dealing with any insurance company.Some may even have problem in getting their insurance policy information due to loss of prevention.
 
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