Loss Control is Cost Control

In the past 20 years risk management consulting has become an enterprise. Talented risk professionals will consult with companies on a variety of safety topics in an attempt to improve processes, policies and to ultimately minimize risk. There is definite value in having an experienced risk professional assessing processes and advising based on his or her education and skill; however, for smaller organizations the “do-it-yourself” method may be more cost effective at the onset of a risk evaluation. There may be free programs and materials available through local agencies that assist with loss control processes to help protect a company’s bottom line, which is to capture and keep revenue.

California requires employers to provide workers’ compensation insurance benefits to eligible employees. Most workers’ compensation insurance companies have a team of Loss Control Specialists that are available to review hazard plans, injury and illness programs, audit forms, and more. Loss Control Specialists may also provide annual site evaluations, regulatory compliance updates and other templates and training materials. Although the underlying workers’ compensation insurance is not free, the assistance from a Loss Control Specialist is typically part of the insurance plan, at no added expense to a company.