Loss Causation Model

Prospective losses are proven as diminished business after the restoration of conforming goods (as everything up to this would be primary or secondary consequential damages)

A root cause analysis (RCA) looks at an event and considers what happened, why it happened what will be done to prevent it from happening again and how will we know that the changes made will improve the safety of the system. It takes into consideration causative factors, errors and hazards that led to a sentinel event. In this case it was a patient’s death. RCA should not look to place blame on people, but rather processes that need to be improved.

P1 – Explain potential hazards and the harm that may arise from each in a health and social care setting.

event of a catastrophic disruption (fire) or disaster (hurricane) and a major IT or data center outage occurs

In this assignment I will be assessing the hazards identified in the health and social care setting.

According to ASC 450-20-25-1, “When a loss contingency exists, the likelihood that the future event or events will confirm the loss or impairment of an asset or the incurrence of a liability can range from probable to remote. As indicated in the definition of contingency, the term loss is used for convenience to include many charges against income that are commonly referred to as expenses and others that are commonly

The trigger that made him crash was the fact that he was driving too fast

A loss contingency as per ASC 450-10-20 is “An existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an entity that will ultimately be resolved when one or more future events occur or fail to occur. The term loss is used for conveniences to include many charges against income that are commonly referred to as expenses and others that are commonly referred to as losses.” Contingent liabilities depend on the occurrence of one or more future events to confirm the: amount payable, the payee, the date payable, or its existence.

A root cause analysis (RCA) is an essential tool that can be used to examine and understand the ways in which systems fail as well as discuss those specific failures that led to a specific adverse event and potentially implement steps or behaviors to prevent that event from happening in the future (Ogrinc & Huber, 2013). In the case study presented, a number of system failures may have contributed to the patient outcome. As such, an RCA of the case study would help determine those specific

(GPEI) at INSEAD. It is intended to be used as a basis for class discussion rather than to illustrate either effective or

The main idea of the law of negligence is to ensure that people exercise reasonable care when they act by measuring the potential harm that may foreseeably cause harm to other people. Negligence is the principal trigger for liability to ascend in matters that deal with the loss of property of personal injury. Therefore, a person cannot be liable for something unless they have been found negligent or have contributed to the loss of property or injury to the plaintiff (Stuhmcke, 2005). There is more to

‘A general view of accident causation in complex systems’, in Human Error, Cambridge University Press, Cambridge.

A loss exposure is any situation or is any situation or circumstance in which a loss is possible, regardless of whether a loss occurs.

While costs and benefits are the ultimate management decisions, a coherent strategy from management allows IT professionals to more accurately estimate these value decisions. This is the critical area where CP made its mistakes. Due to the financial situations caused from 9/11, the new airport and China taking back Hong Kong; CP shifted to survival mode and cut costs by outsourcing indiscriminately. This damaged the company a few years later, because many of those decisions were reversed with the EVOLVE IT strategy.

The aim of this essay is to determine the inevitability of organisational accidents. An organisational accident is defined as an undesired or potentially disastrous event that is caused by the decisions and actions of the company. This essay will argue that organisational accidents cannot be avoided. As a first step, this essay will detail Perrow’s Normal Accident Theory in which he asserts that the implementation of complex systems by organisations / companies has resulted in unpreventable organisational accidents. The 2011 Fukasmi nuclear accident will be explained to support this assertion. As a second step, human error by those in the organisation as a factor which causes accidents will be analysed through Reason’s