A Study On Loss Control Essay

1259 Words Apr 7th, 2016 null Page
C. Loss Control

Loss control is a multidisciplinary approach in which human, engineering, and risk management practices are employed to reduce the frequency or severity of losses. In this section, we recommend some loss control methods that we believe PYB should implement in their operation that will reduce the severity and frequency of losses. We divided your strategies in into four categories: property, crime, fleet, and personal. We did not categorize these risks into categories of severity or frequency because we feel that all of these loss controls methods should be considered. They should all be considered pressing issues to your company.

– Property

➢ The Columbus Location is only has a 70% sprinkler system and is eight miles away from the fire station. We recommend implementing full sprinkler systems, fire exit signs, more fire extinguishers, and proper protocol for a company safety plan in case of fire.
➢ The Denver, Colorado office is a little outdated and needs to be checked to up to code according to city ordinances. PYB needs to implement a strategy or hire a specialist to maintain company buildings to get them back up to code.
➢ Inventory, equipment, data and money & securities are put at risk for theft at each property. PYB needs to strength their security on staff and implement safeguards such as a security or monitoring system.
➢ PYB can be put out of business due to a loss to their property. PYB needs to uphold their responsibility to keep up their…

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