WASHINGTON (AP) — While businesses bemoan the cost of regulations, a new study suggests that government enforcement of workplace health and safety rules can save lives without sapping a company's bottom line.
The findings come from a decade-long look at hundreds of California work sites subject to random safety inspections. Researchers found that 9.4 percent of those companies reduced their injury claims with no discernible impact on profits.
Better yet, the same companies saved an average of 26 percent on workers' compensation costs in the four years following an inspection when compared with similar firms that were not randomly inspected.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
