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Workplace Safety Saves.


Ten leading causes of injuries and illnesses accounted for 86 percent of the $38.7 billion in wage and medical payments employers paid in 1998, the last year for which data is available. Obviously, if the causes can be mitigated mit·i·gate  
v. mit·i·gat·ed, mit·i·gat·ing, mit·i·gates

v.tr.
To moderate (a quality or condition) in force or intensity; alleviate. See Synonyms at relieve.

v.intr.
To become milder.
, enormous savings would result.

In an effort to offer guidelines guidelines,
n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks.
 to reduce human and economic costs, Liberty Mutual Group has developed its first annual "Liberty Mutual Work place Safety Index." The insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual.

An insurer is frequently an insurance company and is also known as an underwriter.
, a provider of workers compensation insurance products and services, identified the leading causes of job site accidents and illness and associated direct cost using its own claims data and findings from the Bureau of Labor Statistics Bureau of Labor Statistics (BLS)

A research agency of the U.S. Department of Labor; it compiles statistics on hours of work, average hourly earnings, employment and unemployment, consumer prices and many other variables.
 and the National Academy of Social Insurance.

"There is a clear link between workplace safety and a company's performance," says Gary Gary, city (1990 pop. 116,646), Lake co., NW Ind., a port of entry on Lake Michigan; inc. 1909. Gary was founded by the U.S. Steel Corporation, which purchased the land in 1905 and landscaped it for a city.  Gregg Gregg can refer to:
  • The forename, as in "Gregg Van Leuven": see (Greg)
  • The surname, as in "Judd Gregg": see Gregg (surname)
  • John Robert Gregg, the inventor of Gregg shorthand: see John Robert Gregg
, executive vice president of Liberty Mutual's Commercial Markets, which provides commercial insurance coverage to large and medium-sized Me´di`um-sized`

a. 1. Having a medium size; as, a medium-sized man s>.

Adj. 1. medium-sized - intermediate in size
medium-size, moderate-size, moderate-sized
 companies. He noted three benefits from improved workplace safety: It reduces employee pain and suffering; helps avoid the direct cost of workplace injuries -- such as wage replacement payments and medical care expenses; and prevents the indirect cost of the accidents, such as lower morale, lost productivity and the cost of hiring or training overtime or temporary replacement workers.
Liberty Mutual Workplace
Safety Index -- Accident Drivers
Accident Causes                Est. Workers
                                 Comp. Cost [*]
 1. Overexertion               $9.8 billion
 2. Falls on same level        $4.4 billion
 3. Bodily reaction            $3.6 billion
 4. Falls to lower level       $3.6 billion
 5. Being struck by an object  $3.4 billion
 6. Repetitive motion          $2.3 billion
 7. Highway accidents          $2.1 billion
 8. Struck against an object   $1.9 billion
 9. Becoming caught in or
    compressed by equipment    $1.6 billion
10. Contact with
    temperature extremes       $.3 billion
(*.)Estimated workers compensation direct cost nationwide
COPYRIGHT 2001 Financial Executives International
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Financial Executive
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 1, 2001
Words:298
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