Both individuals and enterprises are exposed to a variety of risks that threaten their well being and existence. It hence becomes inevitable that measures need to be taken to control the risks to which these groups are exposed. This is achieved through the risk management process of identification, evaluation, control and transfer of risks. Loss Prevention is the control part of the risk management process that deals with the elimination and mitigation of pure risks like fires, natural disasters, and man and machine made accidents where the occurrence of an event will always trigger a loss with no possibility of a beneficial gain. Safety, health and environment, property damage, machinery breakdown, business interruption, and liability are the issues on which loss prevention efforts are focused. Hence loss prevention would deal with issues related to accident and injury prevention including issues related to health and occupational safety as well as issues relating to management and control of perils like fire, flood, lightning, natural disasters, manmade accidents and equipment upkeep and failure.