3rd Eye News

Indirect Accident Costs

When companies and local governments consider and calculate the costs associated with accidents and injuries, it’s important to include both direct and indirect costs. Indirect costs may include:

  • Higher insurance premiums
  • Time spent investigating the incident
  • Time spent communicating lessons learned
  • Cost of screening/hiring/training a new worker replacing the injured employee

    Several studies suggest indirect costs are 2-5 times higher than direct costs. Of course, the human suffering associated with severe accidents or fatalities can’t be quantified, and should not be ignored.

The bottom line: Accident and injury prevention needs to be a top priority for everyone!

*Article courtesy of NSWMA/WASTEC