The Impact of Insurance on the Reduction or Increasing of Occupational Accidents: A Review
-
Soheil Abbasi
,
Payam Khourdustan
,
Seyed Shamseddin Alizadeh
,
Mahnaz Mirza Ebrahim Tehrani
,
Saeid Jalilpour
Abstract
Despite the safety management and safety measures, occupational accidents in the workplace are inevitable, and occupational deaths and injuries occur every year around the world. One of the management approaches to control of risk is transfer risk. In this approach, the total or part of losses caused by accident compensated by the third party (insurance markets). This approach is used when the probability of occurrence of the accident is low but its impact and consequences are severe. In this article, we reviewed the studies related to insurance and occupational accidents. The aim was to find a link between insurance and occupational accidents and to answer the question that whether insurance has an effect on the reduction or increase of accidents or not. According to a study conducted on various papers from various databases, it has been shown that insurance, in addition to compensation, can improves safety and reduce accidents. Also, despite the fact that insurance may have other negative economic effects in organizations, it can reduce both the risk of occupational accidents and financial risks for insurers through an incentive and economic approach.
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21. Anastasiadis S, Chukova S. Multivariate insurance models: an overview. Insurance: Mathematics and Economics. 2012; 51(1):222-227.
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27. Abrahamsen EB, Asche F. On how access to an insurance market affects investments in safety measures, based on the expected utility theory. Reliability Engineering & System Safety. 2011; 96(3):361-364.
28. Abrahamsen EBA, Frank. The insurance market’s influence on investments in safety measures. Safety science. 2010;48(10):1279-1285.
29. Yin H, Kunreuther H, White MW. Risk-Based Pricing and Risk-Reducing Effort: Does the Private Insurance Market Reduce Environmental Accidents? The Journal of Law and Economics. 2011; 54(2):325-363.
30. Shin IO, Jun-Byoung Yi, Kwan Hyung. Workers’ compensation insurance and occupational injuries. Safety and health at work. 2011; 2(2):148-157.
2. Jabbari M, Ghorbani, Roghayeh. Developing techniques for cause-responsibility analysis of occupational accidents. Accident Analysis & Prevention. 2016; 96:101-107.
3. Laberge Marie CB, Fredette Marc, Tabet Nassim, Tondoux Aurélie, Bayard Dolores, Breslin Curtis. Unexpected events: Learning opportunities or injury risks for apprentices in low-skilled jobs? A pilot study. Safety science. 2016; 86:1-9.
4. Wang BW, Chao Kang, Liangguo Reniers, Genserik Huang, Lang. Work safety in China’s Thirteenth Five-Year plan period (2016–2020): Current status, new challenges and future tasks. Safety science. 2018; 104:164-178.
5. Takala JH, Päivi Saarela, Kaija Leena Yun, Loke Yoke Manickam, Kathiresan Jin, Tan Wee Heng, Peggy Tjong, Caleb Kheng, Lim Guan Lim, Samuel. Global estimates of the burden of injury and illness at work in 2012. Journal of occupational and environmental hygiene. 2014;11(5):326-337.
6. Sarkar SV, Sammangi Raj, Rahul Maiti, Jhareswar Mitra, Pabitra. Application of optimized machine learning techniques for prediction of occupational accidents. Computers & Operations Research. 2019; 106:210-224.
7. Castillo-Rosa JS-C, Manuel Rubio-Romero, Juan Carlos Aguado, Jose Antonio. Personal factors and consequences of electrical occupational accidents in the primary, secondary and tertiary sectors. Safety science. 2017; 91:286-297.
8. Jeong KC, ByungSeon Moon, JeiKwon Hyun, DongJun Lee, JongHwan Kim, IkJune Kim, GeunHo Kang, ShinYoung. Risk assessment on abnormal accidents from human errors during decommissioning of nuclear facilities. Annals of Nuclear Energy. 2016; 87:1-6.
9. Skalle PA, Agnar Laumann, Karin. Integrating human related errors with technical errors to determine causes behind offshore accidents. Safety science. 2014; 63:179-190.
10. Pan Y. Workers’ Compensation and Workplace Safety: An Analysis of Fatal and Nonfatal Injury Cases in the United States: Master thesis, Georgetown University, USA; 2016.
11. Pietilä JR, Tuula Reiman, Arto Ratilainen, Henriikka Helander, Elina. Characteristics and determinants of recurrent occupational accidents. Safety science. 2018; 108:269-277.
12. Hopkin P. Fundamentals of risk management: understanding, evaluating and implementing effective risk management. 5th ed.: Kogan Page; London, United Kingdom; 2018.
13. Möller NH, Sven Ove Holmberg, Jan-Erik Rollenhagen, Carl. Handbook of Safety Principles. 1st ed. Vol. 9. John Wiley & Sons Ltd, Chichester, United Kingdom; 2018.
14. Renn O. Risk governance: coping with uncertainty in a complex world. 1st ed.: Routledge, Taylor & Francis group, United Kingdom; 2017.
15. Aven T. Risk analysis. 2nd ed.: John Wiley & Sons Ltd, Chichester, United Kingdom; 2015.
16. Dionne G. Handbook of Insurance. 2nd ed.: Springer-Verlag New York; 2013.
17. Nie P-yW, Chan Chen, Zi-yue Chen, You-hua. A theoretic analysis of key person insurance. Economic Modelling. 2018; 71:272-278.
18. Kjellen UA, Eirik. Prevention of accidents and unwanted occurrences: Theory, methods, and tools in safety management. 2nd ed.: CRC Press, Cleveland, Ohio, USA; 2017.
19. Guiness LW, V. Introduction to Health Economics (Understanding Public Health). Maidenhead. Open University Press. McGraw-Hill International, New York, USA; 2011.
20. Kasule OHK. Health insurance and the ethical issue of equity. Journal of Taibah University Medical Sciences. 2012;7(2):61-68.
21. Anastasiadis S, Chukova S. Multivariate insurance models: an overview. Insurance: Mathematics and Economics. 2012; 51(1):222-227.
22. Michaud AW, David. Occupational hazards and social disability insurance. Journal of Monetary Economics. 2018; 96:77-92.
23. Imriyas K. An expert system for strategic control of accidents and insurers’ risks in building construction projects. Expert Systems with Applications. 2009; 36(2):4021-4034.
24. Imriyas KL, SP Teo, AL Chan, SL. Premium-rating model for workers’ compensation insurance in construction. Journal of construction engineering and management. 2008;134(8):601-617.
25. Bunni NG. Risk and insurance in construction. 1st ed.: Routledge, Taylor & Francis group, United Kingdom; 2003.
26. Wang KCH, R. J. Tzeng, L. Y. Empirical evidence for advantageous selection in the commercial fire insurance market [Article]. GENEVA Risk and Insurance Review. 2009; 34(1):1-19.
27. Abrahamsen EB, Asche F. On how access to an insurance market affects investments in safety measures, based on the expected utility theory. Reliability Engineering & System Safety. 2011; 96(3):361-364.
28. Abrahamsen EBA, Frank. The insurance market’s influence on investments in safety measures. Safety science. 2010;48(10):1279-1285.
29. Yin H, Kunreuther H, White MW. Risk-Based Pricing and Risk-Reducing Effort: Does the Private Insurance Market Reduce Environmental Accidents? The Journal of Law and Economics. 2011; 54(2):325-363.
30. Shin IO, Jun-Byoung Yi, Kwan Hyung. Workers’ compensation insurance and occupational injuries. Safety and health at work. 2011; 2(2):148-157.
| Files | ||
| Issue | Vol 12 No 1 (2020) | |
| Section | Review Article(s) | |
| Published | 2020-03-30 | |
| Keywords | ||
| Insurance Occupational Accidents Risk Transfer Workers' Compensation Insurance. | ||
| Rights and permissions | |
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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. |
How to Cite
1.
Abbasi S, Khourdustan P, Alizadeh SS, Mirza Ebrahim Tehrani M, Jalilpour S. The Impact of Insurance on the Reduction or Increasing of Occupational Accidents: A Review. Int J Occup Hyg. 2020;12(1):86-94.
