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Health and safety compliance can reduce insurance premiums

CLA (Risk Solutions) Ltd

HSE (Health and Safety Executive) has had to bear its fair share of cuts since 2009/10 and has seen a 46% reduction in central Government funding.

Though there have been serious cuts to HSE by the Government over the last few years resulting in a drop in enforcement activity, individual fines are increasing.

The average fine per conviction now stands at £149,661.

The manufacturing sector was again the most heavily fined contributing nearly 40% to the total fines imposed.

Whilst that figure was a 15% reduction on the previous year, the fine per conviction went up by 8% to £210,058.

The construction sector followed with total fines of £15.7m (down 12%) but with an increased fine per conviction of £107,794 (up 14%).

Utility supply was the sector with the highest average fine per conviction (standing at £605,000).

Transportation and storage followed at £243,731, the latter industry having a 100% conviction rate.

Industries with statistically significantly higher injury rates include:

• agriculture, forestry and fishing

• construction

• public administration/defence

• wholesale/retail; repair of motor vehicles

• accommodation/food service activities

• manufacturing.

Managing health and safety

Your employers’ liability insurance will protect you if one of your employees is injured or becomes ill as a result of a workplace incident and makes a claim for compensation from you.

However, if you are subsequently found to have breached health and safety legislation, any fines and other expenses cannot be claimed under your employers’ liability insurance policy.

The implications of an investigation can have serious consequences on the financial viability of a business and its officers.

Fines and investigation expenses can lead to insolvency for the company and in the worst cases imprisonment for its Directors.

Directors and Officers insurance

You may be able to make a claim on your insurance policy if you have Directors and Officers insurance.

This covers a variety of claims; for more information visit our webpage https://www.clarisksolutions.co.uk/insurance/liability/directors-and-officers or call 0121 321 4600 to discuss in more detail.

However, prevention is always better than trying to close the barn door after the horse has bolted and implementing an effective health and safety plan and management process will help to reduce accidents and minimise the risk of an investigation in the first place.

Health and Safety Assist

At CLA we like to offer a holistic solution to our clients’ insurance needs. As an insurance broker we can advise you on the best insurance policy to provide cover for your individual business.

We have also teamed up with partners who can provide additional services to manage and mitigate your risks.

One of our partners specialises in providing support by way of an online safety management hub to help you to simplify and manage your health and safety responsibilities all in one place.

To find out what the service includes and how the portal works, visit our webpage https://www.clarisksolutions.co.uk/health-and-safety-assist

Or call one of our team to find out what you can do to reduce your exposure to health and safety risks and help to reduce your insurance premiums at the same time.