Insurance

Insurance SavingsSafety and health management programs can improve a company's bottom line.  Although some benefits of these programs may be difficult to quantify, there are aspects that can be easily measured.

By implementing a fall protection solution, organizations have outright savings on workers compensation claims, civil liability damages, and litigation expenses.  Fall Protection Systems protect workers from falls and minimize secondary injuries that occur during falls.

Implementing these changes minimizes an employer's risk which in turn allows for a reduction in insurance premiums.

 When a fall occurs and insurance pays for the initial costs of employee injuries, eventually the costs will be passed back to the company in the form of higher premiums or the inability to obtain insurance.  Indirect costs of an injury may be 20 times the amount of the direct costs:

  • Training & Compensating Replacement Workers
  • Repairing Damaged Property
  • Accident Investigation & Corrective Action
  • Scheduling Delays & Loss of Productivity
  • Administrative Expense
  • Low Employee Morale & Increased Absenteeism
  • Poor Customer & Community Relations

(Source:elcosh)

Estimated Costs of Occupational Injuries and Illnesses and Estimated Impact on A Company's Profitability Worksheet.

Click here to estimate your costs.

OHSA Safety Pays Program