First notice of loss plays a crucial role in loss prevention for large-scale corporations. This manifests in multiple ways. Accidental misreporting or under-reporting can occur, resulting in lost time for the company. Intentional misrepresentation of time, injuries, and other issues can also occur. Without a system in place to track and verify these incidents, problems like these will arise. Studies have shown that the incidence of theft increases dramatically when the opportunity is evident. Employing a thorough FNOL program shows that a company cares about its employees in multiple ways, including increases to the bottom line.
