Page 10 - Petrosphere - Loss Control Management (LCM) Training Manual V 1.0

9 Module 1: History and Philosophy of Loss Control Loss Control Management (LCM)

• If it cause the death of the son of the owner of the house – they shall put to death a son of that
builder.
• If it cause the death of a slave of the owner of the house – he shall give to the owner of the

house a slave of equal value.
• If it destroys property, he shall restore whatever it destroyed, and because he did not make the
house which he built firm and it collapsed, he shall rebuild the house which collapsed at his own
expense.
• If a builder build a house for a man and do not make its construction meet the requirements and
a wall fall in, that builder shall strengthen the wall at his own expense.

Historical Background of Loss Control Management

The history of Loss Control Management reflects the dynamic nature of the industry and shows
how it has risen in importance in the world since its inception. Loss Control is a risk management
technique that seeks to proactively prevent or reduce loss evolving from accident, injury, illnesses, and
property damage. The aim of the loss control is to reduce the likelihood and severity of losses.

Industrial Revolution

Industrial Revolution
was a period in which
fundamental changes
occurred in agriculture, textile,
and metal manufacture,

transportation, economic
policies, and the social
structure in England. Although
the Industrial Revolution
occurred approximately 200
years ago, it is a period in time
that left a profound impact on

how people lived and the way businesses are operated.

The extensive use of power machinery initially imported from England during Industrial Revolution
ushered in a period of work deaths and disability never seen before or since. The working conditions
during this era were extremely dangerous for many reasons, namely the underdeveloped technology that

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