Workplace safety a significant risk, says AIG

Workplace safety a significant risk, says AIG | Insurance Business Asia

Workplace safety a significant risk, says AIG
AIG Singapore has released a forecast that workplace safety will be a significant risk over the next 12 months, as Singaporean companies are forced to cut down on costs amid a global economic slowdown.

According to data on insurance claims collected by the insurer, the highest risks to employees are slips and trips (21%); followed by contact with stationary machinery or objects (12%); traffic accidents (7%); and falls from elevated positions (5%).

These accidents cause various injuries to employees, mostly finger and hand injuries, including fractures, and back injuries. Data also shows that back strains and fractures are the most costly, while the marine and construction industries share the top spot for being accident-prone, followed by the hospitality sector.

Debra Burford, head of liabilities at AIG Singapore said in a press release: “Whilst finger and hand injuries may not sound serious, they lead to downtime for both employees and employers which can be prevented with the incorporation of a strong safety and wellness culture within the organisation.”

The study by AIG also highlighted the importance of post-incident assistance and rehabilitation.

“Research has shown that the probability of returning to work after an injury decreases with the amount of time spent away from work, with only 50% of workers returning to work after six months away. This figure decreases to 25% after one year,” said Buford.

As a response, AIG is providing rehabilitation services alongside its in-house medical management team for workplace accidents, she added.

AIG predicts that the number of companies employees manage their injuries will grow five-fold, from 2% currently to around 10% in the next five years.


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