Loss control refers to the strategies and practices implemented to minimize the risk of loss in various contexts, such as businesses or insurance. It involves identifying potential hazards, assessing risks, and taking proactive measures to prevent accidents or financial losses. Effective loss control can lead to safer environments and reduced costs. In the insurance industry, loss control is crucial for underwriting and claims management. Insurers often work with policyholders to develop tailored loss control programs that address specific risks. By focusing on prevention, both parties can benefit from lower premiums and fewer claims, ultimately promoting a more sustainable approach to risk management.