Controlling

{
  "id": "MLC-T-INS-000967",
  "term": "Controlling",
  "field": "Insurance and risk management",
  "definition": "A category of risk management techniques focused on reducing the frequency or severity of losses. These techniques, also known as risk control, include methods like loss prevention, which aims to stop losses from occurring, and loss reduction, which minimizes the impact of losses that do happen. Installing a fire sprinkler system is a form of loss reduction, while safety training for employees is a form of loss prevention.",
  "url": "https://mlchart.com/terminology/insurance/controlling/"
}