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1.1.5 Economical/Financial Reasons: Indirect Costs

Indirect cost: 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

Iceberg Principle