LONDON, 1 November 2005 – With employee accidents costing companies more than £5000 per claim¹, Aon Limited, a leading insurance broker and risk management consultant, has launched the Health & Safety Manager, a new advisory service and easy-to-use online system to help small to medium sized businesses (SMEs) cope with health & safety (H&S) risks and regulation.
Research from Aon shows that over half of employee accidents (52%) were caused by incidents with equipment during the last 12 months. This has led to the misconception that blue collar workers are more at risk whereas reality shows that office-based companies also face the risks of employees slipping in the workplace or developing Repetitive Strain Injury, the second and third most common causes of claims. Aon also found that the average cost per claim for the top three causes of accidents stands at £5,731, an increase from £2,040 for 2003/4.
Companies are required by law to recognise the risks facing their company, carry out employee training and report an accident to comply with RIDDOR². Aon’s expert service and online system is designed to guide MDs and their H&S officers through the H&S process whilst cutting paperwork. The team of Aon Risk Control Consultants, who usually provide advice to larger companies, are for the first time on hand for SMEs at each step of the process providing onsite visits and telephone consultations.
The Health & Safety Manager enables MDs to keep up to date with relevant legislation, manage ongoing H&S procedures and maintain an online claims record to prove their commitment to H&S and avoid the threat of prosecution for failing to comply with government requirements.
Nigel Feast, Commercial Focus Leader for Aon Limited, said: “MDs are skilled business people but not H&S experts. The thought of carrying out a meaningful risk assessment can seem a chore but MDs need to shake off the ‘it will never happen to me’ attitude and use a well planned route to compliance and implement an ongoing process to control the risk of accidents at work.”
The online tool helps to assess and control the SME’s risks, thus reducing both the number and magnitude of Employers’ Liability claims. The knock-on benefit is cutting absenteeism and enabling greater productivity amongst employees. In addition to complying with the Health & Safety Executive, insurers are recognising the benefits of risk management tools. Aon is working with underwriters to develop insurance programmes which offer more competitive premiums in return for a clear H&S policy and good claims record.
Angus Montgomery, Product Development Manager for Aon Limited, commented: “Companies often take the wrong route by purchasing systems that are ultimately encyclopaedias of risk management which sit on the shelf and do nothing. The Health & Safety Manager is all about people, not paper. In addition to regular onsite visits, our risk experts have online access to your system so we can monitor your progress and advise accordingly.”
¹ On average based on a 12 month period from September 2004-2005
² Reporting of Injuries and Dangerous Occurrences Regulations 1995
- Employee accidents rose to the 7th biggest risk facing companies in 2005 from the 10th biggest risk in 2001 (Aon’s Biennial Survey)
- 48% of respondents have seen a noticeable increase in the number of claims in the last five years (Aon Compensation Culture Survey Spring 2004)
About Aon
Aon Corporation (www.aon.com ) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. The company employs approximately 53,000 professionals in its 600 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results, depending on a variety of factors. Potential factors that could impact results include the general economic conditions in different countries around the world, fluctuations in global equity and fixed income markets, exchange rates, rating agency actions, pension funding, ultimate paid claims may be different from actuarial estimates and actuarial estimates may change over time, changes in commercial property and casualty markets and commercial premium rates, the competitive environment, the actual costs of resolution of contingent liabilities and other loss contingencies, the heightened level of potential errors and omissions liability arising from placements of complex policies and sophisticated reinsurance arrangements in an insurance market in which insurer reserves are under pressure, and the timing and resolution of related insurance and reinsurance issues relating to the events of September 11, 2001. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, are contained in the Company's filings with the Securities and Exchange Commission.
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