What is the primary goal of loss control?

The primary goal of loss control is to reduce the frequency and severity of losses. This objective focuses on implementing strategies and measures that help organizations anticipate potential risks and mitigate their impact, rather than attempting to eliminate all financial loss, which is often unrealistic.

Loss control encompasses a variety of practices, such as safety training, regular maintenance of equipment, and risk assessments, aimed at preventing accidents or incidents that could lead to losses. By addressing the underlying causes of risk, an organization can better protect its assets and maintain operational efficiency.

While increasing the security of physical assets can be a component of loss control, it is not the overarching goal. Similarly, maximizing insurance benefits is more about managing financial aspects after a loss has occurred rather than preventing those losses in the first place. Therefore, the focus on reducing the frequency and severity of losses captures the essence of what loss control aims to achieve.