However, it is the indirect or hidden costs from a loss that often impact companies most. Injuries trigger the direct costs which include medical payments, repair costs, indemnity payments, etc. The constant exposure to incidents makes preventing, or at the very least controlling, losses when accidents occur all the more important. The potential for financial losses exists in construction because it is such a hazardous industry with a high frequency of accidents. Although these programs are implemented with the primary goal of avoiding accidents and injuries, an often overlooked benefit of strong Risk and Safety programs is the financial impact on the company. Safety is the top priority in construction, and companies often pledge to take the necessary steps to send each employee home safe at the end of the day. Effective Risk Management and Safety programs are integral in avoiding incidents and keeping workers safe on jobsites. The construction industry is full of risks and exposures that workers face on a daily basis. Gallagher & Co., and ABC Keystone Young Professionals Committee Member
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