ABSTRACT
Workers’ Compensation normally covers the direct costs of the accident. The premiums can be increased as a result of injury costs and these increases could remain for three-year cycles or periods. Most of the accidental costs are hidden costs or indirect costs. The safety pioneers established that there is a definite ratio between the insured and uninsured costs of accidents and conservatively put the ratio at 1:5. A further category can be added to the costs of an accident. The alternate countermeasures that produced the greatest benefits for the least cost are normally selected. In referring to the quotations it is obvious that costs both of nonconformance and of total conformance are the deciding factor. One of the hidden costs of an accident is the cost a company suffers when its reputation is tarnished as a result of a serious accident or series of accidents.
