Understanding Total Crash Costs
The Impact On Your Organisation
‘The Iceberg Effect’
“For Every $1 In Known, Quantifiable, Insurance Costs, There Is Between $8 To $53 In Hidden, Unknown, Non-Insurance Costs.”
Source:
Research by the International Loss Control Institute
What Are These Hidden Or Uninsured Costs?
Late deliveries or failure to deliver service expectations
Lost productivity or efficiency of service provision
Brand or reputation damage
Investigations & administration costs
Training & costs for improvement
Penalties and fines
Low morale
Absenteeism
High staff turnover
Hiring costs
Source of Above List: NRSPP/Zurich 2015 Webinar: The Total Cost Of Road Risk