The Business 'Triangle' - financing the uninsured loss of a workplace accident
August 2014
All accidents have financial costs associated with them, broken down into two main categories
- Insured
- Uninsured
Employer’s liability insurance covers the cost of the injuries and loss to the person affected.
The uninsured costs range from sources such as:
- the accident investigation and its remedial measures
- down time
- sick pay
- over time
- agency fees
- administration costs
- product re-working
- fees for late delivery / shorting
- business reputation damage and loss of potential future earnings
- policy excesses
- premium increases.....and the list goes on!
It’s these uninsured costs that I want to look at - where the money financing them comes from and what factors may influence those in the decision making process.
The Business Triangle
All workplace accidents result in costs - direct and indirect. It is the latter that ironically will directly affect the capacity of the business to meet shareholder expectations.
Related Blogs
-
Less Than 1% of Earth's Water Is Usable | Here's Why That Matters for Your Business
Explore the risks water insecurity poses to UK businesses and discover practical opportunities to build resilience, cut costs and strengthen your reputation.13.03.26 -
Astutis' Approach to Supporting Neurodivergent Learners and Accessibility
Discover how Astutis designs accessible online health and safety courses for neurodivergent learners, with flexible formats, clear design and inclusive learning tools.13.03.26 -
If You Manage Risk in Construction, You Need to Know About PAS 2000
Discover how BSI's new PAS 2000 code of practice strengthens construction product safety and what health and safety professionals need to act on now.10.03.26 -
How to Complete Health and Safety Training Without Disrupting Work
Learn how your business can deliver health and safety training without pulling teams offline and impacting productivity.06.03.26 -
How to Reduce Employee Accidents and Injuries
Discover practical strategies to reduce workplace accidents, from effective safety inductions to management training, backed by the latest HSE 2024/25 data.06.03.26 -
Is Your Building Safe? New Rules Aim to Ensure Every Construction Product Is Properly Vetted
Explore the Construction Products Reform White Paper's impact on building safety, the General Safety Requirement, and what it means for OSH professionals.04.03.26
Case Studies
Find out how learners look back on their training with Astutis. Our case studies give our learners, both individual and corporate, a platform to share their Astutis experience. Discover how training with Astutis has helped past learners and delegates make the world a safer place, one course at a time.
Real Life Stories
What People Say
We're always there for our customers. 98% of our learners rated their overall experience as good or outstanding.
We will always pride ourselves on our customer service. But don’t take our word for it, here is what our customers have to say