Analysis and related significance of loss control practices in industry between companies with high versus low workmen's compensation experience modification

Abstract

The objective of this investigation was to identify loss control practices which could provide an explanation for variations in loss experience from firm to firm in the same industry. The control of exposures which could result in losses can have a dramatic effect on increasing the overall productivity in industry. This loss control effort is identified as a program designed to minimize or eliminate loss events which downgrade the system. Included in such a program would be efforts directed toward: 1. Occupational Injury Prevention a. Traumatic injury b. Occupational illness c. Occupational disease 2. Company-Owned Property Damage Control a. Facilities b. Equipment c. Materials 3. Business Interruptions4. Exposures to Members of the Public a. Operations b. Products c. Property Investigations to date in the loss control area have provided many valuable contributions. However, most of the emphasis has been directed toward general and/or organizational behavioral aspects of loss control. In this investigation, certain loss control practices based on design principles and operating procedures are identified. Workmen's compensation loss experience is used as a measure of the effectiveness of loss control practices in select industrial classifications.