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Wednesday, 12 March 2008 |
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By ABB Safety Net
 Small Business and the Health and Safety Plan
Small businesses that have a voluntary health and safety program in place have fifty percent less accidents and reported insurance claims than that of their counterparts according to OHSA stats. Most small businesses fall below the legal requirements for having a formal health and safety program in place due to number of employees on staff. Sixty eight percent of reported accidents are in the service industry which shows even businesses such as retail establishments are not free of accidents.
Setting a health and safety program in place will reduce costs. Having a program will reduce accidents and will lead to lower company workers comp premiums; further business insurance companies prefer their customers to have health and safety programs. These insurance companies might even discount the premium if a program can be proved to exist. The average cost of an accident is $68,000. Direct costs in accidents such as workers comp and fines levied can close a business. Indirect costs such as low morale of employees, legal fees, and retraining can be as |
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Last Updated ( Wednesday, 12 March 2008 )
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