1 / 10

INTRODUCTION TO LOSS MANAGEMENT

DEFINITIONS (Bird and Germain, 1996). Accident: An undesired event that results in harm to people, damage to property, or loss to process ( loss to environment; HSE).An accident results from contact with a substance or source of energy (chemical, mechanical, etc.) above the threshold limit of the

zita
Download Presentation

INTRODUCTION TO LOSS MANAGEMENT

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    1. INTRODUCTION TO LOSS MANAGEMENT “Set the scene” Definitions A few questions

    2. DEFINITIONS (Bird and Germain, 1996) Accident: An undesired event that results in harm to people, damage to property, or loss to process (+ loss to environment; HSE). An accident results from contact with a substance or source of energy (chemical, mechanical, etc.) above the threshold limit of the body or structure.

    3. DEFINITIONS (Bird and Germain, 1996) Incident: An undesired event which, under slightly different circumstances, could have resulted in a loss (people, property, process, environment)…or… An undesired event which could or does result in a loss (people, property, process, environment).

    4. DEFINITIONS (Jones et al., JLPPI, 12 (1999) 59-67) Incident: A sudden work related accident or near miss. Accident: An unintended incident which results in injury to persons and/or damage to property, the environment or a third party. Near miss: An unintended incident which, under different circumstances, could have become an accident.

    5. DEFINITIONS Hazard: A chemical or physical condition that has the potential for causing harm/damage to people, property, process or environment. Risk: A measure of economic loss or human injury in terms of both the incident frequency and the severity (consequences) of the loss or injury. RISK = FREQUENCY x SEVERITY

More Related