Good health and safety practice makes sound business sense. You can:
Good health and safety practice means your business doesn't become a statistic
Whilst we can't promise that following the advice on this website will have an immediate impact on the price you pay for your insurance, what we can say is businesses that take risk management seriously tend to have fewer accidents. Over time these businesses generally pay significantly less for their insurance.
Whatever your business, accidents happen. Sometimes the cost of the accident may be covered by insurance, or you may be able to make a claim against somebody else.
No amount of money however, can truly compensate for serious long term injury or death to your employees, members of the public, or customers arising out of business activities.
Even if the loss or accident doesn't involve injury and compensation is available, the hidden costs can be substantial and often must be borne by the business.
Typically the hidden cost of accidents and health and safety breaches are between 8 and 36 times the cost covered by insurance (Source HSE). Hidden costs include:
Businesses suffering a significant loss are often so badly crippled, that they never recover. With the right business continuity planning and health and safety processes in place you can help avoid incidents occurring and minimise their impact when they do.
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