How health and safety is linked to your insurance bill

Businesses in Britain are believed to receive millions of pounds per year in insurance pay-outs – and when you consider everything from covering yourself against accidentally injuring a member of the public to making sure that you can pay legal fees if you get sued, there are clearly lots of eventualities in which insurance might be useful. However, this doesn’t make the high premiums any easier to cope with – and this means that any way to reduce bills is welcome. In the arena of health and safety, for example, there are several steps that you can take to bring down the cost of paying for insurance.

Run drug tests

When you take out insurance, one of the eventualities that you’re protecting yourself against is the risk of one of your workers doing something seriously wrong and causing loss or injury. If any of your employees are taking drugs, though, then the likelihood of this happening is higher – and this means that the likelihood of a claim is also higher. Running drug tests is one way to demonstrate that you have a healthy and focused workforce, and this may reduce your premiums somewhat. Matrix Diagnostics Drug Testing offers on-site screening kits, which shows just how easy it can be to carry out these tests.[Continue Reading…]

Examining the Effect of the New Health and Safety Guidelines on UK Businesses

In 2016, the Sentencing Council’s guideline for sentencing related to health and safety offences dramatically changed. It has now been in effect for more than two years, so we can definitely see the results and reactions to that law. Let’s take a closer look at the after-effects of the new health and safety guidelines on UK businesses.

The Cost-Benefit Analysis More Strongly Favours Prevention

The sentencing guidelines set hefty fines for businesses of all sizes, though fines are based on the turnover of the company. Large companies with a turnover of more than £50 million regularly pay fines of more than £1 million for straightforward health and safety violations. Small to medium companies are periodically hit with six-figure fines. This makes many companies see the clear benefit of investing in greater levels of training, preventative devices, and safety procedures.

The new guidelines focus on the potential risk of harm rather than what harm was actually caused when serious breaches occur. Risk mitigation then becomes a priority. This forces businesses to invest in safety measures that reduce the overall risk of accidents and their outcome, far beyond general mitigation methods that were the norm. Paying for independent consultants to review one’s health and safety policies becomes a priority. And up to date health and safety courses such as the ones listed on can become an investment in the company’s bottom line.[Continue Reading…]

How contractors can get a handle on their finances

Over three million Brits are believed to work as sole traders, and there are plenty of benefits to doing so. Not only can contractors largely set their own priorities and schedules, but they also have the benefit of experiencing different types of … [Continue reading]

3 Practical Ways to Stay Out of Debt

Debt is a trap that many people often fall into. It sometimes happens as a result of not having the knowledge to properly manage finances, overspending, or sometimes as a result of a series of unforeseen events. However, getting out of debt can be an … [Continue reading]

How to gain knowledge in the world of trading

Many people make the mistake of thinking that investing in the stock market or forex market is simple. Buoyed by claims that they have heard or seen online, they dive right in and start to spend their expected profits. This is the exact opposite of … [Continue reading]

Record Rental Rises Hit the UK

A recent report by the Royal Institution of Chartered Surveyors has suggested that UK rents are expected to increase by a huge 15% over the next five years. There have been a number of factors that have led to increasing rent bills, with the rises … [Continue reading]

Moving business cash safely and efficiently

There are all kinds of reasons why a business leader may choose to move cash around within the firm. Perhaps you’re planning to set up a new branch or service, and the team responsible for it needs funds in order to lease spaces or buy equipment. … [Continue reading]

Why all Businesses need to understand their Demographics’ Spending Habits

Businesses cannot exist without their clients or consumers, and as such, understanding their demographic is a key part to any business’ success. One aspect of their behaviour that far too many businesses overlook, however, is their demographics’ … [Continue reading]

Best Forex Brokers for Beginners On The Market – 5 Main Rules Of Choosing

Forex trading is one of the most accepted ways of making money. One of the primary requirements for successful trading is to choose a good brokerage company. Choosing the best broker requires a lot of research and patience. To help beginner traders … [Continue reading]