P.K.

DUGGAL
E mail-praveenduggal_47@rediffmail.com
Cost of Accident

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Tips of Iceberg

Accidents What Price

The Auditing of Accident Cost Safety

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Insured Cost

 A collective Liability chargeable to Cost of Production

INJURIES PROPERTY DAMAGE

Compensation for lost earnings Insurance premiums or charges

for

Medical & Hospital cost a. Fire

Awards for permanent disabilities b. Loss and damages

Rehabilitation cost c. Use of occupancy

Funeral charges d. Public Liability

Pensions for dependents

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Uninsured Cost
Individual Liability, Profit Loss Item - INJURIES

 First aid expense

 Transportation cost
 Cost of investigation
 Cost of processing Reports

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WAGE LOSSES

 Idle time of workers whose work is interrupted

 Man hours spent in cleaning the area of accident
 Time spent in repairing damaged equipment
 Time lost by workers receiving first aid

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PRODUCTION LOSSES

 Product spoiled by accident

 Loss of skill and experience
 Lowered production of worker replaced
 Idle machine time

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ASSOCIATED COSTS

 Difference between actual losses and amount

recovered.
 Rental of equipment to replace damaged equipment
 Surplus workers for replacement of injured workmen.
 Wages or other benefits paid to the disabled worker.
 Overhead cost while production is stopped
 Losses of bonus or payments for payments of
forfeiture for delays .

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OFF THE JOB ACCIDENTS

 Cost of medical services

 Time spent on injured worker’s welfare
 Loss of skill and experience
 Training replacement of worker
 Decreased of production of replacement
 Benefits paid to the injured worker or dependents

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INTENGIBLES

 Lowered employee morale

 Increased labor conflict
 Unfavorable public relations

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 Thanks for Patience Listening

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