Establishing and committing to the implementation of a formal loss control program can definitely have significant benefits. Basically, loss control is taking proactive measures to prevent or reduce the severity of a loss resulting from accidents, injuries, illnesses or property damage. For self-storage operations, a loss control program must be supported by the entire team, including senior management, for the program to be successful.
Elements of a Property and Casualty Loss Control Plan
The primary benefits of a loss control plan are to minimize the frequency and severity of accidents to people, equipment and property; reduce insurance claims; provide a safe environment for employees; protect assets; and mitigate claims of negligence. Fundamental elements of a loss control plan include the following:
Staff training is critical to the success of the loss control plan. Facility managers should be trained in equipment safety as well as identifying potential hazards and responding to emergency situations.
Display safety posters in the rental office and rotate them on a regular basis (monthly or quarterly). This type of information is beneficial for both managers and tenants.
Conduct multiple daily inspections of the property to identify hazards and safety issues as quickly as possible.
Stay current with scheduled facility maintenance to prevent potential safety issues. When hazards are identified, make repairs as quickly as possible.
Inspect lighting daily and replace bulbs or make repairs as quickly as possible.
Tools and Equipment
Inspect and maintain items such as ladders and lock-cutting equipment to ensure that tools and equipment are in optimal condition for safe operation.
Use signs throughout the property to provide warnings (“Blind Corner”) and to educate (“No Smoking”). When necessary, use cones, barricades or safety tape to warn of hazards and restrict access to specific areas of the property.
Employee Criminal Background Checks
Conduct criminal background checks on every prospective employee.
When partnering with a contractor, identify a company that is licensed and insured. Ask your attorney to review all contracts prior to signing, and review contracts with your independent insurance agent to identify any exposures that require additional coverage.
MiniCo Insurance Agency is committed to providing loss control and safety tools to be utilized in training self-storage professionals. Our MiniCo Safety Shorts video series – featuring our newest video on ladder safety – is available at minico.com/SafetyVideos. Your independent insurance agent is also an excellent resource for assistance in creating a loss control plan for your facility.
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