Pub. 3 2013-2014 Issue 1

16 L oss prevention measures can sometimes be costly in addition to cost saving. For example, getting better fire protection or security measures can be expensive to purchase. These improvements can also provide cost savings if they can reduce risk and loss. It is clearly worth the cost to implement needed loss prevention measures that protect people or property. With that being said, we understand that money is a limited resource. Once in a while it might be nice to re- duce the cost of risk without spending any money. Well, today is your day. As your partner in school risk management, we compiled a list of “free” loss prevention activities. Implementing them requires a small amount of time and effort. In return, these measures could be very effective in preventing an undesired and costly event. 1. Ice And Snow Removal Log – Your custodial workers spend time and effort helping to keep people safe from falls by clearing snow and ice from sidewalks, parking and walking areas. After the shoveling and salting is done, take another minute to document what they did and when they did it. This can greatly improve your defense position in the event of a slip and fall injury. 2. Certificates Of Insurance – Make sure all contractors performing work at your facilities have workers’ compensation and general liability insurance. Require them to provide current Certificates of Insurance with adequate limits of insurance. Ask them to name you as an additional insurer and to show it on the Certificate of Insurance. This is a simple risk transfer mechanism that provides great protection in the event you are implicated due to a contractor’s negligence. 3. Hot Work Programs – Anyone performing ‘hot work’ (e.g., a welder or plumber) should operate under a hot work permit system that includes a fire watch after the work is completed. An ounce of prevention is unquestionably worth a pound of cure in this area. 4. Participant Waivers – Obtain signed waivers from parents or guardians of participants in ALL activi- ties that present risks beyond those of a simple classroom environment (e.g., athletics; vocational trades classes; other extra-curricular functions). Some naysayers will refute the legal strength of waivers. However, securing waivers is a sign of prudent management. Waivers also present a hurdle that legal assailants must overcome. Top 10 Free Loss Prevention Activities They Cost You Nothing And Can Save You Much BY JEFFREY M. HIRST, CIC ACCOUNT EXECUTIVE AMERICAN INSURANCE & INVESTMENT CORP.