Monthly Archives: September 2014

Loss Prevention Policy

A company should conduct its business in a manner which prevents incidents or accidents which cause loss of life, bodily injury or illness, or damage to property, assets or the environment.

A company should continuously maintain the highest standards of safety, security, health and environmental protection. It has to:

  • Advise all employees and contractors of their loss prevention responsibilities and regularly measure their performance;
  • Evaluate, identify and eliminate or manage safety risks prior to beginning any new operation or activity and continue to review such risks, complying with all applicable laws and regulations;
  • Communicate loss prevention objectives and procedures regularly to employees and all affected parties;
  • Train employees and provide resources to maintain job competencies, including loss prevention responsibility and accountability;
  • Design and construct company facilities utilizing recognized best technology and practices to safeguard property and people;
  • Operate and maintain company facilities to ensure safe operations;
  • Require that contractors, suppliers and others adhere to the company’s loss prevention policies, procedures and goals;
  • Prepare for emergencies and other contingencies and respond promptly and effectively to any incidents or accidents resulting from operations;
  • Report all incidents, review performance and communicate progress;
  • Promote off-the-job safety and community awareness, and
  • Review and improve the company’s loss prevention program and performance.

It is good to note that different companies have their own different Loss Prevention Policy.

Reference: Saudi Aramco Safety Handbook: Minimum Safety Rules