Human Approach
Definition of "Human approach"
Technique of loss control and reduction of losses in insurance. Supporters of this method believe that the safety attitudes of individuals determine the safety precautions they take. The human approach seeks to convince people to want to be safe in order to reduce loss frequency and severity. For example, campaigns encouraging the use of seat belts help promote a safety-conscious society.
Popular Insurance Terms
Pension plan format. After deciding how much to contribute, the employer can suspend, reduce, or discontinue contributions during the first 10 years only for reasons of business necessity; ...
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Process of discovering sources of loss concerning the property risk faced by individuals and business firms. The first step is to analyze possible perils that can damage or destroy both ...
Coverage that will indemnify the insured for the expenses, up to the limits of the policy, if a building is damaged by a peril such as fire, and zoning requirements and/or building codes ...
Right of survivors to the interest in property of a deceased joint tenant as the result of property held in joint tenancy. ...
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Day on which the New York Stock Exchange is open for transactions; used in calculating accumulation unit values for variable dollar insurance products. ...
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