Newsroom

  Report Outlines Components of Well-Designed Property Loss Control Plans

NEW YORK (August 14, 2013) — According to RIMS’ newly released Executive Report “Introduction to Property Loss Control,” it is critical for risk professionals to have a clear understanding of this fundamental risk management principle to sustain an organization’s finances, profitability, employee well-being, customer service and reputation.

Based on the notes of acclaimed property loss control (PLC) engineer Thomas J. Repking and co-authored by risk management expert Donna Galer and members of RIMS Member & Chapter Services Committee, the report explores the effects of hazards, best practices for working with service providers, PLC success stories, as well as additional considerations for plan development.

“To be successful, a property loss control effort should consistently improve the scope or quality of engineered solutions, highlight hazards that have previously gone unrecognized, reduce the severity and frequency of losses, while encouraging others throughout the organization to think about risk when fulfilling their daily responsibilities,” said Todd Marumoto, Chair of RIMS Member and Chapter Services Committee. “Through a truly collaborative team effort, our co-authors have produced an extensive guide for professionals entering the industry, giving them access to some of the best practices for developing a sound property loss control program.”

RIMS Member and Chapter Services Committee contributes to the Society’s strategy on membership growth and retention. The committee responds to chapter and member needs and is involved with member satisfaction surveys, career services, membership promotion and periodically reviews and updates of risk management and insurance publications.

The full report is free and can be downloaded in RIMS revamped Risk Knowledge library:  www.rims.org/RiskKnowledge.