Unnecessary losses automatically inflate costs. In order to keep an organization’s expenses competitive, it is critical to measure and mitigate risks in order to trim down the frequency of accidents. Therefore, a long-lasting and efficiently communicated loss prevention program is crucial for risk mitigation. Loss prevention indicates the identification, analysis and implementation of various techniques required for handling loss and other emergency situations. Such steps help you diminish the chances of unanticipated losses such as thefts, injuries and damages caused by natural disasters like earthquakes or storms.