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The moral and financial reasons for promoting good standards of health and…
The moral and financial reasons for promoting good standards of health and safety
Moral
Duty of employers to take reasonable care of employees and others
Reduces injuries, pain and suffering
Legal
Legal requirement to safeguard the health and safety of employees and others
Avoids fines, imprisonment and civil claims
Financial
Avoids costs of repairing and replacing damaged plant and equipment
Avoids costs of accident investigation
Avoids costa associated with absences and re-training
Avoids costs of increased insurance premiums
Direct costs
Damage to equipment, tools, property or plant
Insurance
Court costs
Fines
Indirect costs
Production losses
Accident investigation
Selecting and training a replacement employee
Lost time attending court
Insured Costs
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Employer's liability
Purpose
To compensate the injured employee
To enable the employer to cover the cost of the claim
Requirements
An employer must be insured for at least £5million per individual claim.
Employer must display certificate (hard copy or electronically)
Employer not legally required to retain certificates, but good practice to retain in case of a claim.
Fine of up to £2,500 each day for not having insurance
Public/third party liability
Plant and building damage
Tools and equipment
Uninsured costs
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Product and materials damage
Production delays/lost production
Overtime/temporary labor/sick pay
Investigation time
Fines/legal costs
Insurance excess/raised premiums