Risk Profile Improvement
There are five steps to risk management:
The most important step is “Identify” because you can’t Analyze, Control, Finance or Measure what you don’t know. Insurance is “NOT” risk management. Insurance is “FINANCING” risk. Managing risk 365 days a year vs. buying insurance 1 day a year is the key to lowering the total cost of risk (TCOR) for business.
Unbuckled occupants “become a back-seat bullet” in a crash, says Pam Fischer, state highway traffic safety director. In collisions, experts say, unbelted passengers in the back seat continue to move at the same rate of speed as the vehicle they’re in until they hit something — seat back, dashboard, windshield or people in the front seat. Yet many view the back seat as somehow safer.
via States expand seat belt laws to cover rear-seat riders – USATODAY.com.
Accidents are more expensive than most people realize because of the hidden costs. Some costs are obvious — for example, Workers’ Compensation claims which cover medical costs and indemnity payments for an injured or ill worker. These are the direct costs of accidents.
But what about the costs to train and compensate a replacement worker, repair damaged property, investigate the accident and implement corrective action, and to maintain insurance coverage? Even less apparent are the costs related to schedule delays, added administrative time, lower morale, increased absenteeism, and poorer customer relations. These are the indirect costs — costs that aren’t so obvious until we take a closer look.
For those that run a business the “cost of risk” formula needs to be understood and managed because it directly effects the bottom line.
The formula looks like this:
Cost of Risk = Insurance (transfer risk to an insurance company by paying a premium) + Retention and Deductibles (The business portion of any loss of uninsured loss) + Inside Admin Costs (internal staff the handle safety training, claims handling, etc) + Outside Services ( Loss Control, Outside Experts, Health Coaches, Employee Assistance Plans) + Indirect Costs (Loss of productivity, Loss of Key Salesman resulting in Lost Customers, Absenteeism)
This formula is like gravity… it’s there whether you like it or not. Manage it and you thrive but mismanage it will cause you to fall hard.
While we work hard to turn cars into the cure and eliminate drunk driving forever, families must continue to be vigilant on our roadways. You can help protect your family from drunk drivers by looking for these signs of intoxication among other motorists:
Although safety belt usage continues to increase, many groups of people, especially teens, still are not buckling up. In 2009, 67 percent of the passenger vehicle occupants ages 13 to 15 killed in motor vehicle crashes were not using restraints – the highest percentage out of all age groups. Keep your family safe by always buckling up and setting an example that will have a lasting impact on your children.
via Motor Vehicle Safety – Distracted Driving, Teen Driving, Aggressive Driving.
One of the best ways to avoid further accidents is to understand how an accident occurred and how to avoid that type of accident in the future. The accident investigation is a tool. The goal is not to lay blame. The goal in an accident investigation is to:
ACCIDENT — an undesired event or sequence of events causing injury, ill-health or property damage.
NEAR MISS — near misses describe incidents where, given a slight shift in time or distance, injury, ill-health or damage easily could have occurred, but didn’t.
INCIDENT — an incident is an unplanned, undesired event that hinders completion of a task and may cause injury or other damage.
Preventing “Backover” or “frontover” tragedies
Danger can come from any direction, and parents must be aware of the risk of “backover” or “frontover” incidents. Many of these preventable injuries and deaths occur in driveways or parking lots when drivers are unaware children are near vehicles. Tragically, these drivers are often family members or friends of the injured child.
Parents, caregivers, drivers, and kids can all do their part to make sure that children do not share the same space as vehicles.
via Spot the Tot.
Preventing serious injuries and deaths from motorcycle crashes is a major and growing public health concern.
Consider that:
Bike riding is a lot of fun, but accidents happen. Every year, about 300,000 kids go to the emergency department because of bike injuries, and at least 10,000 kids have injuries that require a few days in the hospital. Some of these injuries are so serious that children die, usually from head injuries. A head injury can mean brain injury. Thats why its so important to wear your bike helmet. Wearing one doesn’t mean you can be reckless, but a helmet will provide some protection for your face, head, and brain in case you fall down.
via Bike Safety.