Identify the loss prevention initiative

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When risk management includes a funding mechanism that stimulates investment in loss prevention and loss control measures to reduce the cost of risk. Funding may be obtained through a percentage of workers' compensation base accrual rates. Investing in loss prevention reduces claim frequency, which has a positive effect on severity and overall claim exposure. An appropriate tracking system documents losses or exposure prior to initiating the new program and, after a selected time, documents the effect of the program on losses or exposure?

-Can you Identify the loss prevention initiative's?

-Can you identify primary and secondary funding sources?

-Can you tell me what some funding constraints for each source?

-Can you describe a plan to structure these funding sources to meet the initiative's goals.

-Can you specify the potential internal ramifications that may arise when implementing the loss prevention initiative and your plan for managing the ramifications?

Reference no: EM132886657

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