Commercial
Noise in the Workplace
Loss prevention
Endorsements
Noise in the Workplace
According to the most recent report by the National Institute for Occupational Safety and Health (NIOSH, 1998), about 30 million workers in the U.S. each year are exposed to hazardous noise on the job. Noise-induced hearing loss is irreversible and is the second most self-reported occupational illness.
Certain industries are prone to higher noise levels and, therefore, pose greater risk of hearing loss to workers. According to NIOSH, industry-specific studies reveal that 90% of workers in some industries, such as mining, are likely to experience hearing impairment by age 52, compared to less than 10% of the general population. Nearly 50% of plumbers and 45% of carpenters reported a perceived hearing loss. A national reporting system for hearing loss in the workplace would create more data for study of this problem, but that may be far in the future.
An Ounce of Prevention
While hearing loss is permanent, it may be easily prevented. Business owners can take several steps to help employees preserve their hearing. The best way is to reduce the hazardous noise level, such as by installing a muffler or an acoustic barrier. Secondly, employers can provide workers with protective devices, such as earmuffs or earplugs, and educate workers about their use.
Noise has a gradual effect on hearing and may go unnoticed. To determine the extent of noise pollution, a business can employ a noise evaluation service to measure sound levels in the workplace. In this way, employers may become aware of which employees are most at risk for hearing damage. With regular hearing tests, signs of hearing loss can be detected early and addressed before severe damage is done. This can go a long way toward avoiding workers compensation claims, higher business insurance costs, and possible Occupational Safety and Health Administration (OSHA) fines.
For more information on occupational hearing loss, or other work-related injuries or illnesses, give us a call. One of our qualified insurance professionals would be glad to answer your questions.
Loss Prevention
The purpose of having a business insurance and risk management program in place is to provide sufficient protection for your business in the event of a loss.
The cost of implementing a loss prevention program may, at first, appear to be an unnecessary expense. However, a successful program can work toward alleviating the damaging effects of loss and will help save indirect costs, as well as keep insurance premiums at their lowest. Maintaining documentary evidence prior to a loss is important to sustain claimed values if your business should suffer a loss.
When determining the best program for your business, consider the following: What are the potential losses that your business could suffer? What effect could those losses have on your business? How can you reduce your exposure to risk and what is the best blend of risk management, business insurance, and self-insurance for you and your business? Our insurance professionals are trained to assist you in this analysis. Please contact us to discuss further.
Endorsements and Your Business
Companies may be hard-pressed to find affordable insurance policies that meet all of their business needs and objectives. Businesses concerned with stretching coverage over a wide array of possible risks could potentially broaden those policies by obtaining endorsements. Endorsements address exclusions and limitations under a basic insurance program. There may be many choices available for filling gaps in coverage.
Let's review a few options that may help provide some additional protection
Contingent Business Income Insurance
A company's revenue flow could be greatly stemmed in the event an earthquake, storm, or other natural disaster halts any link in the chain of production, i.e., manufacturers, suppliers, and distributors. Contingent business income insurance covers a business for losses that occur under such circumstances.
Accounts Receivable Endorsement
Suppose a business's accounts receivable records are destroyed by fire or other calamity. An accounts receivable endorsement covers a business for any amounts that are uncollectable as a result of the loss, as well as for the costs of collecting the accounts and recreating the records.
Peak Season Limit of Insurance
During a company's most productive season(s), higher levels of inventory may need to be maintained to cover increased sales. However, if a catastrophe were to occur, the losses sustained could exceed the amount of insurance carried. A peak season limit of insurance endorsement covers a business for a higher limit of coverage during its particular period(s) of high demand.
Spoilage Coverage
Businesses that handle perishables must often maintain controlled conditions to prevent spoilage. A spoilage coverage endorsement protects a business against losses caused by power and equipment failure or general contamination resulting from incidents that are beyond the company's control.
Ordinance or Law Coverage
If a covered peril, such as a fire or tornado, damages a business's property to the extent that the law requires its demolition or complete renovation, ordinance or law coverage provides coverage for the loss. Individuals who own large stakes in real estate may be particularly interested in this endorsement because of the potential for strict building codes and other safety requirements.
Hired and Non-Owned Auto Liability
Employers that allow their employees to use personal vehicles for business purposes could be held legally responsible for an employee who is involved in an accident while running work-related errands. A hired and non-owned auto liability endorsement helps protect businesses against this risk.
Coverage for Injury to Leased Workers
Contract or leased workers are a major segment of today's workforce for many businesses. A coverage for injury to leased workers endorsement on a workers compensation policy protects these workers for injuries sustained while on the job.
Tying Loose Ends Together
Gaps in a company's business insurance coverage can potentially create significant risks to its operations and employees. Obtaining a few additional endorsements will provide an added measure of protection in the event of an unforeseen catastrophe.