Engineering Approach
Definition of "Engineering approach"
Approach in loss prevention placing emphasis on physical features of the workplace as a potential cause of injuries. For example, if a product is inherently dangerous in design or during manufacture, an insurance company may assign an engineer to analyze the situation and recommend changes that could improve safety and lower insurance premiums.
Popular Insurance Terms
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Model act written and published by the national association of insurance commissioners (naic) whose purpose it is to regulate brokers who control insurance companies. The act permits the ...
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