UPS also included safety and its workforce in its new goals, including a 3 percent reduction to UPSs already low, industry-leading statistic of auto
accident frequency and a 1 percent improvement for lost-time injury frequency.
Nigel Valvona, SC Site Construction Health & Safety Programme Manager, emphasised that safety continues to be a top priority for the SC, with over 83mn man-hours worked across all projects so far and an
accident frequency rate of just 0.
Increased
accident frequency due to higher traffic congestion and medical-cost liability severity are the primary cost drivers.
In June, the company achieved a significant milestone, having operated without a single reportable accident for 12 months, leading to a reportable
accident frequency rate (RAFR) of zero - an achievement few in its industry have ever matched.
How can insurers make a dent in
accident frequency and severity, both of which are currently on the rise?
With currently over 52,000 people working to deliver the metro Phase One, the
accident frequency rate (AFR) is 0.
In strong correlation with the spike in mileage (see Figure 1),
accident frequency is at a 10-year high, having risen steeply in 2014 and 2015.
Sobti also said BHEL has won five ' national safety awards' for outstanding achievements in terms of the longest accident free period and lowest
accident frequency rate at their works.
Negative binomial models in particular are commonly used because they account for the overdispersion problem that generally occurs in traffic
accident frequency data [17-23].
According to the firm, a decline in
accident frequency due to safer vehicles and the adoption of autonomous vehicles would shrink the US personal auto insurance sector by 60 percent within 25 years.
Insurers, in general, think the changes will be gradual, having seen revenue grow despite a parade of advances in auto safety over prior decades that have cut
accident frequency but have been insufficient to overcome the growing severity of claims.
Workplace
accident frequency (WAF): This is the monthly number of work-related accidents, multiplied by one million man-hours exposed to risk, divided by the sum of the man-hours worked in the month in each store (regular and overtime).
