Actions performed by the insured to reduce the chance of a loss or the extent of a loss, for example, locking valuables in a safe or keeping fire extinguishers in a home or business.
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Actions to reduce the frequency or severity of losses. Installing locks, burglar or fire alarms, and sprinkler systems are loss control techniques.
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All methods of reducing the frequency and/or severity of losses including exposure avoidance, loss prevention, loss reduction, segregation of exposure units and non-Insurance transfer of risk, A combination of loss control or risk control techniques with risk financing techniques forms the nucleus of a risk management program. Loss Control, the Domino Theory, Heinrich’s : This theory holds that all accidents are the result of a chain of events or row of dominoes which includes: The ancestry of environment of the accident (such as general community conditions or the basic character or the basic character of a person involved in the accident);The fault of a person (such as recklessness), an unsafe act and/or safe physical condition (such as negligence, intentional wrong doing the absence of a necessary machine guard, or insufficient lighting);An accident (such as a person falling or a machine falling under stress); andResulting losses (such as bodily injury, damage to property or environmental pollution).Each element in this sequence can be viewed as a domino which, if it falls, will knock over the following dominoes and result in a loss. By this theory, the key to accident prevention is to remove one of the dominoes so that, should a preceding domino fall, the following ones will remain standing and no losses will occur.