Insurance is 'motivation' to follow health and safety rules
Commercial insurance
20th May 2009
Almost a fifth of small businesses view health and safety as an insurance issue, according to the results of a new study.
Research conducted by the Forum of Private Business (FPB) discovered that 19 per cent of company owners see compliance with health and safety regulations as important because it reassures them that they are not risking invalidating their insurance.
The survey, published just weeks before the Health and Safety Executive's new strategy is launched, also found that 37 per cent of bosses viewed complying with legislation as key to improving working practices.
A quarter of those quizzed admitted they attempted to stick rigidly to health and safety laws to ensure they could not be prosecuted, while 56 per cent said that improving worker safety was their main motivation for following the regulations.
FPB chief executive Phil Orford said that following health and safety regulations could be "a costly, time-consuming exercise".
He urged companies to put in place proper guidelines and controls to ensure no laws are breached and that the financial strain of health and safety is not too great.
London-based Avery Dennison Materials UK Ltd was recently fined £75,000 and ordered to pay £50,000 in costs after admitting breaching the Health and Safety at Work etc Act 1974 following an incident in which a worker was killed.
For more information on how Giles can help you with your business insurance, Click here.
