About Lesson
1.1.5 Economical/Financial Reasons: Indirect Costs
Indirect cost:Â The costs which may not be directly attributed to the accident but have an effect on economic conditions of an organization.
Indirect Insured Cost |
Indirect Uninsured Cost |
Damage to plant, building and equipment |
Production delays or down time |
Cumulative business loss |
Loss of goodwill and organization image |
Compensation paid to worker |
Extra overtime payments |

Iceberg Principle