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  • Identify The Costs That Organization May Incur As A Result

    Încărcat de

    Rohit Singh
    217 vizualizări3 pagini
    An organization can incur direct and indirect costs from workplace accidents. Direct costs are measurable, such as payments for medical care, repairs, or lost productivity. Indirect costs are less obvious but still generate expenses, like investigating the accident, paying employees who cannot work, or losing customers due to a damaged reputation. Proper insurance can offset some direct insured costs, but organizations still bear many indirect uninsured costs from employee injuries.

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    Accident Cost

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    An organization can incur direct and indirect costs from workplace accidents. Direct costs are measurable, such as payments for medical care, repairs, or lost productivity. Indirect costs are less obvious but still generate expenses, like investigating the accident, paying employees who cannot work, or losing customers due to a damaged reputation. Proper insurance can offset some direct insured costs, but organizations still bear many indirect uninsured costs from employee injuries.

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    © All Rights Reserved
    Descărcați ca PPTX, PDF, TXT sau citiți online pe Scribd
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    217 vizualizări3 pagini

    Identify The Costs That Organization May Incur As A Result

    Încărcat de

    Rohit Singh
    An organization can incur direct and indirect costs from workplace accidents. Direct costs are measurable, such as payments for medical care, repairs, or lost productivity. Indirect costs are less obvious but still generate expenses, like investigating the accident, paying employees who cannot work, or losing customers due to a damaged reputation. Proper insurance can offset some direct insured costs, but organizations still bear many indirect uninsured costs from employee injuries.

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    © All Rights Reserved
    Descărcați ca PPTX, PDF, TXT sau citiți online pe Scribd
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    din 3

    1. Identify the costs that organization may incur as a result.

    2. Identify possible costs to an organization following an accident


    in the workplace.
    3. Identify eight other possible costs to an organization when an
    employee has been seriously injured in such an accident.
    Economic Reasons:
    The theory of costs of an accident can be closely associated with that of a floating iceberg.

    • Direct costs : the measurable costs arising directly from an


    accident.
     Direct insured costs.
     Direct uninsured costs.

    • Indirect costs : those which arise indirectly as a consequence of the


    event.
     Indirect insured costs.
     Indirect uninsured costs.
    Accidents Costs:
    INSURED
    Employer’s Liability and
    public Liability claims, Business Interruption,
    damage to buildings, Product Liability.
    plant and vehicles.

    INDIRECT
    DIRECT

    Accident cost

    Sick pay, repairs,


    Investigation costs, loss
    product lost or
    of goodwill.
    damaged.
    UNINSURED

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