What is one primary function of loss control in insurance?

One primary function of loss control in insurance is conducting underwriting surveys and assessments. This process is essential because it involves evaluating risks associated with insuring particular entities or properties. By assessing these risks, insurance companies can determine appropriate coverage options, premiums, and conditions of the insurance policies they offer.

Loss control activities aim to identify potential hazards and implement measures to mitigate these risks, which can ultimately reduce the frequency and severity of claims. This proactive approach not only benefits the insurer by lowering potential payouts but also supports policyholders by promoting safer practices and environments. The other functions, such as collecting outstanding premiums, handling customer inquiries, and marketing insurance products, are important in their own right but do not specifically focus on the risk assessment and mitigation essential to loss control, distinguishing it as a unique and critical function within the insurance industry.