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Don’t slip up calculating the costs of accidents


If the number of reported injuries and incidences of work-related ill-health are in decline, then why have costs to business risen so significantly?

Calculating the true costs of accidents to both employers and employees is not as straightforward as you would hope as many expenses are not always obvious. Tighter Health & Safety regulations, new sentencing guidelines, subsequent higher fines and increased management time have added costs to business.

Bira Insurance’s 6 step risk reduction plan – cutting the cost of workplace accidents and ill-health

Workplace controls are good for business – it’s not just the big accidents that will cost you money. Consider your people, premises, plant, equipment and substances and then review your training and controls to see if they are addressing all the issues.

1. Find out what could cause harm  

The most common workplace hazards are physical; vibration, slips, trips and falls. Remember to consider ergonomic hazards that hard the musculoskeletal system, such as repetitive movements, manual handling and poor body positioning.

2. Identify who might be harmed

Including your employees, visitors or members of the public.

3. Itemise what you could do to prevent anything happening to those at risk

Incorporate a safety and wellness plan and educate employees and management staff, providing protection equipment where appropriate.

4. Act in a planned way and record what you have done

Don’t take shortcuts and talk regularly with your employees, providing training where necessary.

5. Check these actions are still working as part of an annual risk review 

Make health and safety procedures a key part of your business to maintain the well-being of your employees.

6. Encourage employees to report all incidents 

It is important that all hazards are identified and removed from the workplace. All injuries and accident, including near misses must be reported so that they can be investigated, and the causes determined. You can then take appropriate steps to eliminate them.

 

Bira members who arrange their insurance with Bira Insurance will automatically be enrolled into an online Health & Safety service. This provides guidance on a wide range of workplace issues at no cost to you.

Find out more about Bira Insurance

Looking after business, taking care of people.

If you have any questions, please call Towergate on 0330 123 5939 and talk to the Bira Insurance team.

Bira Insurance, Towergate and Towergate Insurance are trading names of Towergate Underwriting Group Limited. Registered Address: Towergate House, Eclipse Park, Sittingbourne Rd, Maidstone, Kent ME14 3EN. Registered in England with company number 4043759. Authorised and regulated by the Financial Conduct Authority. Bira Insurance is a trading name of Towergate Underwriting Group Limited. Registered Address: Towergate House, Eclipse Park, Sittingbourne Rd, Maidstone, Kent ME14 3EN. Registered in England with company number 4043759. Authorised and regulated by the Financial Conduct Authority.

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