Work-related injuries surge more than 40% in five years
Work-related injuries have surged in the past five years, according to new research from Simply Business.
Data from the firm’s claims team shows a 41% rise in claims and suggests that businesses may not be taking all of the necessary precautions in the workplace.
The data reveals a number of surprising trends and highlights how an accident or injury at work could spell disaster for the UK’s small businesses.
Not only do they potentially face time away from work, but they could also see their reputation plummet and even the end of their business if they lack adequate insurance cover.
Public liability, employers’ liability and personal accident insurance can all prove invaluable should something go wrong and can prevent businesses from fronting the costs should an accident occur.
Most work carries an element of risk but some professions were deemed more dangerous than others – hairdressers and beauticians are seven times more likely than carpenters to have a workplace accident for example.
Fitness instructors are also three times more likely to have an accident in the workplace than bricklayers, while it is a similar situation for dog walker and kennel owners when compared to lorry drivers.
Accidents are also more likely to happen on Mondays than during the remainder of the week while people in Liverpool and Glasgow are most likely to have an accident. Those in Bristol, Sheffield and London meanwhile are least likely to have a slip up.
The good news for businesses is that 2016 saw a dip in injury claims, but firms still need to follow good practices or both their reputation and finances could take a hit.
Even sectors that would be consider low-risk detail a considerable level of claims and any business without cover would see an impact on the bottom line.
For small businesses, these financial hits could be enough to force a business into insolvency if it is unable to overcome the sudden expenditure or source alternative methods of finance.
It is therefore important for businesses to plan ahead to ensure they have sufficient insurance to cover their everyday tasks and to constantly review options to ensure best practice.
By Phil Smith