INDUSTRIAL SAFETY AND RISK MANAGEMENT

[seminar surveyer]

Compiled by
B Nedumaran

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Modern Concept of Accident
Prevention
W A Balakumaran1
Director(Retd)
Regional Labour Institute
Chennai

Introduction

Survival and prosperity decide the success of any business activity. Risk is
inherent in all the tasks we undertake. So also, with the business activity, no
one likes to meet adverse effects while taking some risks, particularly the nonspeculative
or pure risks. Such risks, which involve only loss, include:
• Physical harm to employees
• Property damage to the organization
• Physical harm or property damage to public
• Capital income loss
• Security loss etc
In order to reduce the risk, the potential hazards that are likely to result in
loss are to be eliminated or controlled to the possible extent. To decide on the
loss control approaches, the hazards are to be identified.