Proving the value of safety
Integrating a safety solution to manage risk is a process that is best employed via up-front teamwork between operations and risk management, such as risk managers, safety professionals and claim analysts. In addition, it is important to understand risk and the different types of risk that exist on a plant floor. Risk awareness often leads to better decisions that can reduce soft costs. By providing an easy-to-be-safe environment for operators with safety solutions that are designed into the machine and focus on complete machine life-cycle requirements, companies are able to reduce indirect costs. In this white paper, we will highlight key elements of effective risk management and safety programs, review workers' compensation premium plans and the risks that affect them, discuss the implications on workers compensation insurance premiums, and provide ideas to easure potential savings that can be found in proactive safety investments.